<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Event Reported): JUNE 5, 1997
LXR BIOTECHNOLOGY INC.
- --------------------------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
DELAWARE
- --------------------------------------------------------------------------------
(State or other jurisdiction of incorporation)
1-12968 68-0282856
- --------------------------------- -----------------------------------
(Commission file number) (IRS employer identification no.)
1401 MARINA WAY SOUTH, RICHMOND, CALIFORNIA 94804
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
(510) 412-9100
- --------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
<PAGE> 2
INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS.
On June 5, 1997, LXR Biotechnology Inc. ("LXR" or the "Company")
announced that it will not proceed with further U.S. clinical trials of
Lexirin(tm) in AIDS patients at this time. Lexirin is a proprietary oral
compound designed to inhibit excessive apoptotic cell death in the
gastrointestinal tract usually associated with severe diarrhea encountered in
cancer chemotherapy, radiotherapy for prostate cancer, and AIDS. Preliminary
results of the recent Phase I safety trial indicated that Lexirin is well
tolerated in AIDS patients and that no adverse reactions were encountered.
However, in light of the growing use of triple drug therapy for HIV infection in
the last six to nine months and concomitant decrease in side effects suffered by
patients infected with HIV, LXR has decided to reallocate its resources to the
development of its candidate systems to preserve and protect organ function,
including HK-Cardiosol(tm), CP-Cardiosol(tm) and Elirex(tm), for which the
Company believes there are larger markets and more pressing needs.
LXR intends to continue to analyze the market for AIDS related
diarrhea therapy outside the U.S. and to evaluate Lexirin for potential
applications in other markets, including cancer chemotherapy and radiotherapy.
2
<PAGE> 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
LXR BIOTECHNOLOGY INC.
Date: June 13, 1997 By: /s/ L. David Tomei
------------------
L. David Tomei
Chief Executive Officer
3
