New York-based investment firm Invus is purchasing up to $550 million in Lexicon Pharmaceuticals common stock to help finance Lexicon's 10 to 10 program. The 10 to 10 program is an ongoing company initiative with the goal of advancing 10 drug candidates into human clinical trials by 2010. Lexicon expects the new drugs to result from its genetics-based drug discovery platform and to include both small molecules and antibodies.
- see this release on the investment