Lexin Pharmaceutical Corp., Sparta deal

The companies signed a letter of intent under which SPTA will acquire Lexin for an undisclosed amount of SPTA common shares (SPTA currently trades as SPTAC, see Other Financial News).

SPTA said Lexin, which is developing inhibitors of serine proteases, would add biotech compounds to its small molecule portfolio. Lexin’s lead compound, LEX032, is in preclinical development for inflammatory and cardiovascular diseases. ...