Simpson Thacher represented an affiliate of Invus, L.P. in connection with a private placement of 27,775,050 shares of common stock of Lexicon Pharmaceuticals, Inc. (“Lexicon”), raising $72.2 million in gross proceeds. Concurrently, Lexicon consummated a registered public offering of 27,513,410 shares of its common stock, raising $71.5 million in additional gross proceeds.
Lexicon is a biopharmaceutical company with a mission of pioneering medicines that safely and effectively treat disease. Lexicon advanced two of these medicines to market and has 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 Kenneth Wallach, Evan Zuckerman and Anna Jarman (Capital Markets); Jennifer Nadborny and Bettina Elstroth (Public Company Advisory Practice); and Kelly Karapetyan (Antitrust).