Lexicon entered into a collaboration and license agreement with Sanofi in November 2015 under which Lexicon granted Sanofi an exclusive, worldwide (excluding Japan), royalty-bearing right and license to develop, manufacture and commercialize sotagliflozin. Lexicon is responsible for all clinical development activities relating to type 1 diabetes and has exercised an exclusive option to co-promote and have a significant role, in collaboration with Sanofi, in the commercialization of sotagliflozin for the treatment of type 1 diabetes in the U.S. Sanofi is responsible for all clinical development and commercialization of sotagliflozin for the treatment of type 2 diabetes worldwide (excluding Japan) and is solely responsible for the commercialization of sotagliflozin for the treatment of type 1 diabetes outside the U.S. (excluding Japan).About Lexicon Pharmaceuticals Lexicon is a fully integrated biopharmaceutical company that is applying a unique approach to gene science based on Nobel Prize-winning technology to discover and develop precise medicines for patients with serious, chronic conditions. Through its Genome5000™ program, Lexicon scientists have studied the role and function of nearly 5,000 genes over the last 20 years and have identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to safely and effectively treat disease. In addition to its first commercial product, XERMELO ® (telotristat ethyl), Lexicon has a pipeline of promising drug candidates in clinical and pre-clinical development in diabetes and metabolism and neuropathic pain. For additional information please visit www.lexpharma.com. Safe Harbor Statement This press release contains "forward-looking statements," including statements relating to Lexicon's and its licensee's clinical development of and regulatory filings for sotagliflozin and the potential therapeutic and commercial potential of sotagliflozin. In addition, this press release also contains forward-looking statements relating to Lexicon's growth and future operating results, discovery, development and commercialization of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including the risk that the FDA and other regulatory authorities may not grant regulatory approval of sotagliflozin in accordance with Lexicon's currently anticipated timelines or at all, and the risk that such regulatory approvals, if granted, may have significant limitations on the approved use of sotagliflozin. As a result, sotagliflozin may never be successfully commercialized. Other risks include Lexicon's ability to meet its capital requirements, successfully commercialize XERMELO (telotristat ethyl), successfully conduct preclinical and clinical development and obtain necessary regulatory approvals of LX2761, LX9211 and its other potential drug candidates on its anticipated timelines, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its drug candidates. Any of these risks, uncertainties and other factors may cause Lexicon's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under "Risk Factors" in Lexicon's annual report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. For Investor Inquiries: Kimberly Lee, D.O.Head of Investor Relations and Corporate StrategyLexicon Pharmaceuticals(281) 863-3383 email@example.com For Media Inquiries: Chas SchultzExecutive Director, Corporate Communications and Patient AdvocacyLexicon Pharmaceuticals(281) 863-3421 firstname.lastname@example.org
THE WOODLANDS, Texas, March 29, 2018 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq:LXRX), today announced that the European Medicines Agency (EMA) has accepted the Marketing Authorization Application (MAA) filed by Lexicon's collaborator, Sanofi, for sotagliflozin, an investigational dual SGLT1 and SGLT2 inhibitor, for use in combination with insulin therapy to improve glycemic control in adults with type 1 diabetes mellitus. "By accepting the MAA filing, the EMA acknowledges the need for a new treatment option for people suffering from type 1 diabetes to address the debilitating effects of this disease," said Pablo Lapuerta, M.D., executive vice president and chief medical officer. "We and our collaborator, Sanofi, plan to work closely with the EMA and Committee for Medicinal Products for Human Use (CHMP) toward the goal of bringing sotagliflozin to people living with type 1 diabetes in Europe as quickly as possible." "Type 1 diabetes is an escalating epidemic that affects many adults in Europe, and despite advancements in treatment, most people with type 1 diabetes still struggle to achieve their blood glucose goals," said Thomas Danne, M.D., Head of the Diabetes Center at the Children's Hospital on the Bult in Hannover, Germany and primary investigator for the inTandem2 clinical trial. "Sotagliflozin has a unique mode of action that, if approved, would offer adults suffering from type 1 diabetes and healthcare professionals improved glycemic management on top of insulin alone." Lexicon announced the submission of a New Drug Application (NDA) by Sanofi with the U.S. Food and Drug Administration (FDA) on March 26, 2018. About Sotagliflozin Discovered using Lexicon's unique approach to gene science, sotagliflozin is an investigational oral dual inhibitor of two proteins responsible for glucose regulation known as sodium-glucose co-transporter types 1 and 2 (SGLT1 and SGLT2). SGLT1 is responsible for glucose absorption in the gastrointestinal tract, and SGLT2 is responsible for glucose reabsorption by the kidney.