-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QN55p1DJHWdYRam3NZUpn4VyEoQE2Tj9oQiL4fh6PubjyGdmQq9oLvZvShyFAjth
 OKk5QJcQlD+FbAlNWzahOQ==

<SEC-DOCUMENT>0001181431-07-054077.txt : 20070824
<SEC-HEADER>0001181431-07-054077.hdr.sgml : 20070824
<ACCEPTANCE-DATETIME>20070824152629
ACCESSION NUMBER:		0001181431-07-054077
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070823
FILED AS OF DATE:		20070824
DATE AS OF CHANGE:		20070824

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DEBBANE RAYMOND
		CENTRAL INDEX KEY:			0001053890

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30111
		FILM NUMBER:		071078316

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		2123711717

	MAIL ADDRESS:	
		STREET 1:		C/O THE INVUS GROUP, LLC
		STREET 2:		750 LEXINGTON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEXICON PHARMACEUTICALS, INC./DE
		CENTRAL INDEX KEY:			0001062822
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				760474169
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8800 TECHNOLOGY FOREST PLACE
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77381
		BUSINESS PHONE:		2818633000

	MAIL ADDRESS:	
		STREET 1:		8800 TECHNOLOGY FOREST PLACE
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77381

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXICON GENETICS INC/TX
		DATE OF NAME CHANGE:	20000126

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Ulys, LLC
		CENTRAL INDEX KEY:			0001340098
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30111
		FILM NUMBER:		071078319

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE INVUS GROUP, LLC
		STREET 2:		750 LEXINGTON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-3177520

	MAIL ADDRESS:	
		STREET 1:		C/O THE INVUS GROUP, LLC
		STREET 2:		750 LEXINGTON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Invus Advisors, L.L.C.
		CENTRAL INDEX KEY:			0001404553

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30111
		FILM NUMBER:		071078317

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE INVUS GROUP, L.L.C.
		STREET 2:		750 LEXINGTON AVENUE, 30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212 371 1717

	MAIL ADDRESS:	
		STREET 1:		C/O THE INVUS GROUP, L.L.C.
		STREET 2:		750 LEXINGTON AVENUE, 30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Invus, L.P.
		CENTRAL INDEX KEY:			0001404570

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30111
		FILM NUMBER:		071078318

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE INVUS GROUP, L.L.C.
		STREET 2:		750 LEXINGTON AVENUE, 30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212 371 1717

	MAIL ADDRESS:	
		STREET 1:		C/O THE INVUS GROUP, L.L.C.
		STREET 2:		750 LEXINGTON AVENUE, 30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd170538.xml
<DESCRIPTION>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-08-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001062822</issuerCik>
        <issuerName>LEXICON PHARMACEUTICALS, INC./DE</issuerName>
        <issuerTradingSymbol>LXRX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001340098</rptOwnerCik>
            <rptOwnerName>Ulys, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>750 LEXINGTON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>30TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001404570</rptOwnerCik>
            <rptOwnerName>Invus, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>750 LEXINGTON AVENUE, 30TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001404553</rptOwnerCik>
            <rptOwnerName>Invus Advisors, L.L.C.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>750 LEXINGTON AVENUE, 30TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001053890</rptOwnerCik>
            <rptOwnerName>DEBBANE RAYMOND</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ULYS, L.L.C.</rptOwnerStreet1>
            <rptOwnerStreet2>750 LEXINGTON AVENUE, 30TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-08-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>16499347</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.0915</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>16499347</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-08-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>34325639</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50824986</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3891108</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On August 23, 2007, at a special meeting of stockholders of Lexicon Pharmaceuticals, Inc. (the &quot;Issuer&quot;), the Issuer's stockholders voted to approve the transactions contemplated by a securities purchase agreement (the &quot;Securities Purchase Agreement&quot;) and certain other agreements, each dated June 17, 2007, between Invus, L.P. and the Issuer, including the purchase by Invus, L.P. (the &quot;Initial Investment&quot;) of a number of shares of Issuer common stock that will result, upon the closing of the Initial Investment, in Invus, L.P. owning 40% of the Issuer common stock outstanding on the date of such closing. The closing of the Initial Investment is expected to occur on August 28, 2007, subject to satisfaction of the closing conditions contained in the Securities Purchase Agreement. As a result of the stockholder vote, Invus, L.P. may be deemed to have acquired the shares of Issuer common stock to be issued in the Initial Investment.</footnote>
        <footnote id="F2">Based on the number of shares of Issuer common stock outstanding as of August 23, 2007, the date of the special meeting of stockholders of the Issuer, the aggregate number of shares of Issuer common stock to be purchased by Invus, L.P. in the Initial Investment is estimated to be 50,824,986. The number of shares actually issued at the closing may deviate from this estimate based on changes in the number of outstanding shares of Issuer common stock between August 23, 2007, and the date of the closing of the Initial Investment.</footnote>
        <footnote id="F3">The reported shares may be deemed to have been acquired by Invus, L.P. as described in footnote (1). Invus Advisors, L.L.C. is the general partner of Invus, L.P. Ulys, L.L.C. is the managing member of Invus Advisors, L.L.C. Raymond Debbane is the sole member of Ulys, L.L.C. Accordingly, each of Invus Advisors, L.L.C., Ulys, L.L.C. and Raymond Debbane may be deemed to be indirect beneficial owners of the reported securities. Each of Invus Advisors, L.L.C., Ulys, L.L.C. and Raymond Debbane disclaims beneficial ownership of such securities, except to the extent of its or his pecuniary interest therein.</footnote>
        <footnote id="F4">The reported shares are owned directly by Invus Public Equities, L.P. Invus Public Equities Advisors, LLC is the general partner of Invus Public Equities, L.P. Ulys, L.L.C. is the managing member of Invus Public Equities Advisors, LLC. Raymond Debbane is the sole member of Ulys, L.L.C. Accordingly, each of Invus Public Equities Advisors, LLC, Ulys, L.L.C. and Raymond Debbane may be deemend to be indirect beneficial owners of the reported shares. Each of Invus Public Equities Advisors, LLC, Ulys, L.L.C. and Raymond Debbance disclaims beneficial ownership of such shares, except to the extent of its or his pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Raymond Debbane; ULYS, L.L.C.</signatureName>
        <signatureDate>2007-08-24</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Raymond Debbane; INVUS, L.P., By: Invus Advisiors, L.L.C., its general partner</signatureName>
        <signatureDate>2007-08-24</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Raymond Debbane; INVUS ADVISORS, L.L.C.</signatureName>
        <signatureDate>2007-08-24</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Raymond Debbane</signatureName>
        <signatureDate>2007-08-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----