Simpson Thacher represented an affiliate of Invus, L.P. (“Invus”), Lexicon Pharmaceuticals, Inc.’s (“Lexicon”) largest stockholder, in connection with a private placement of convertible preferred stock of Lexicon. Invus purchased approximately 50% of the offering that raised an aggregate of approximately $250 million in gross proceeds.
Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients’ lives. Lexicon has advanced multiple medicines to market and has a pipeline of additional drug candidates in discovery and clinical and preclinical development in heart failure, neuropathic pain, diabetes and metabolism and other indications.
The Simpson Thacher team included Ken Wallach, Lia Toback, Melissa Lewis and Hannah Levinson (Capital Markets); Jennifer Nadborny and Bettina Elstroth (Public Company Advisory Practice); Russell Light and Shareef Salfity (Tax); and Kelly Karapetyan (Antitrust).