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Simpson Thacher recently represented affiliates of The Invus Group in their $130 million investment in Lexicon Pharmaceuticals, Inc. The investment was made pursuant to the exercise of subscription rights issued to Lexicon stockholders in a pro rata rights offering initiated by Invus pursuant to its contractual rights to require Lexicon to conduct the offering. The aggregate gross proceeds to Lexicon from the rights offering were approximately $161 million. As a result of its investment, Invus’ ownership of Lexicon’s outstanding common stock increased to approximately 58%.

Lexicon is a biopharmaceutical company focused on discovering breakthrough treatments for human disease.

The Simpson Thacher team included Peter Malloy and Michael Reeves (Corporate); Michael Naughton and Ken Ehrhard (Antitrust); Aimee Adler (Executive Compensation and Employee Benefits); Jonathan Cantor and Noah Beck (Tax); and Kerry Konrad and Keren Siman-Tov (Intellectual Property).