Lexicon grabs co-promo option on diabetes drug; Shkreli jury enters second day of deliberations
→ Lexicon Pharmaceuticals $LXRX is taking a co-promotion option on its SGLT 1 / 2 drug sotagliflozin for type 1 diabetes. Lexicon plans to market alongside Sanofi in the US, deciding to go ahead with the option after looking over positive late-stage data for the drug, which is being lined up for a marketing application.
→ Invitae Corp. $NVTA is buying two diagnostics companies. It acquired CombiMatrix for $27 million and Good Start Genetics for a mix of cash and stock. And to pay for it the biotech raised $73.5 million through the sale of shares.
→ The seven women and five men on Martin Shkreli’s jury are in their second day of deliberations on the eight counts he faces on fraud and conspiracy to commit fraud. Federal prosecutors alleged that Shkreli looted Retrophin in part to help pay back the people who lost their money in his various hedge fund investments.