Simpson Thacher represented affiliates of Invus, L.P. in connection with a private placement of 17,156,400 shares of common stock of Lexicon Pharmaceuticals, Inc. (“Lexicon”), raising $42.9 million in gross proceeds. Concurrently, Lexicon consummated a registered public offering of 16,843,600 shares of its common stock, raising $42.1 million in additional gross proceeds.
Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients’ lives. Through its Genome5000™ program, Lexicon scientists studied the role and function of nearly 5,000 genes and 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.
The Simpson Thacher team included Ken Wallach, Hui Lin, Evan Zuckerman and Alexander Suh (Capital Markets); Jennifer Nadborny and Bettina Elstroth (Public Company Advisory Practice); and Kelly Karapetyan (Antitrust).