Lexicon Appoints Judith Swain, M.D. to Board of Directors
September 25 2007 - 4:00PM
PR Newswire (US)
New Composition of Board Reflects Emphasis on Drug Development and
Recent Private Equity Investment THE WOODLANDS, Texas, Sept. 25
/PRNewswire-FirstCall/ -- Lexicon Pharmaceuticals, Inc.
(NASDAQ:LXRX) announced several changes to the composition of its
board of directors reflecting its continuing advancement into drug
development and the completion of a major strategic financing with
Invus, LP. With extensive experience in clinical medicine and
biological science, Judith L. Swain, M.D. has been appointed to the
Lexicon board of directors, and will play a key role in advising
the company on the progression of its drug candidate pipeline
through preclinical and clinical development. Coinciding with Dr.
Swain's appointment, Dr. Clayton Rose and Dr. Barry Mills, who
helped lead the board's efforts in overseeing the successful
negotiation and completion of the Invus transaction, have resigned
their positions on Lexicon's board of directors effective September
30, 2007. As a result of that financing, Lexicon appointed Raymond
Debbane, Philippe J. Amouyal and Christopher J. Sobecki to the
board. Taken together, the recent appointments and resignations
bring Lexicon's board of directors to a current total of ten
members. "We are indeed privileged to have one of medicine's
leading physician scientists join Lexicon's board of directors. A
recognized expert in cardiovascular disease, Dr. Swain also brings
a broad understanding of clinical medicine with in-depth knowledge
of the challenges of clinical research. As part of her extensive
medical leadership experience, Dr. Swain possesses an international
perspective on emerging medical opportunities in Asia, and a unique
understanding of the hurdles encountered in translating new
discoveries from the laboratory bench to the bedside," said Dr.
Arthur T. Sands, president and chief executive officer of Lexicon.
"Drs. Rose and Mills have played a key role during a very important
time in Lexicon's development. We are appreciative of their service
as directors and their contributions to the company's success." Dr.
Swain is currently the executive director of the Singapore
Institute for Clinical Sciences within the Singapore Agency for
Science, Technology, and Research (A*STAR), and the Lien Ying Chow
Professor of Medicine at the National University of Singapore.
Before going to Singapore, she was the dean for translational
medicine at the University of California, San Diego, where she
continues to maintain an appointment as an adjunct professor of
medicine. Dr. Swain previously served as chair of the Department of
Medicine at Stanford University, and on the medical faculties of
the University of Pennsylvania and Duke University. Dr. Swain is
widely known in the field of molecular cardiology, and pioneered
the use of transgenic animals to understand the genetic basis of
cardiovascular development and disease. "The nature of Lexicon's
drug discovery engine offers unprecedented opportunities to bring
breakthrough drugs to patients in need," said Dr. Swain. "The
pipeline under development already contains drug candidates with
the potential to have a significant impact in medicine. It is
indeed an exciting time to join the company's board as it
translates its discoveries into drug development. I have great
expectations for the future of Lexicon." Dr. Swain serves as a
director of the Burroughs Wellcome Fund, on the scientific advisory
board of the Doris Duke Charitable Foundation, and as a director or
member of the scientific advisory boards for a number of
privately-held biomedical technology companies. Dr. Swain is a
member of the Association of American Physicians, the American
Society for Clinical Investigation and the Institute of Medicine.
About Lexicon Lexicon is a biopharmaceutical company focused on the
discovery and development of breakthrough treatments for human
disease. Lexicon currently has clinical programs underway for such
areas of major unmet medical need as irritable bowel syndrome and
cognitive disorders. The company has used its proprietary gene
knockout technology to discover more than 100 promising drug
targets and create an extensive pipeline of clinical and
preclinical programs in the therapeutic areas of diabetes and
obesity, cardiovascular disease, psychiatric and neurological
disorders, cancer, immune system disorders and ophthalmic disease.
To advance the development and commercialization of its programs,
Lexicon is working both independently and through collaborators
including Bristol-Myers Squibb Company, Genentech, Inc. and N.V.
Organon. For additional information about Lexicon and its programs,
please visit http://www.lexpharma.com/. Safe Harbor Statement This
press release contains "forward-looking statements," including
statements relating to Lexicon's growth and future operating
results, discovery and development of products, strategic alliances
and intellectual property, as well as other matters that are not
historical facts or information. All forward-looking statements are
based on management's current assumptions and expectations and
involve risks, uncertainties and other important factors that may
cause Lexicon's actual results to be materially different from any
future results expressed or implied by such forward-looking
statements. Information identifying such important factors is
contained under "Factors Affecting Forward-Looking Statements" and
"Risk Factors" in Lexicon's annual report on Form 10-K for the year
ended December 31, 2006, as filed with the Securities and Exchange
Commission. Lexicon undertakes no obligation to update or revise
any such forward-looking statements, whether as a result of new
information, future events or otherwise. DATASOURCE: Lexicon
Pharmaceuticals, Inc. CONTACT: Arti Allam, Corporate Communications
Associate, +1-281-863-3738, , or Julia P. Gregory, Executive Vice
President and Chief Financial Officer, +1-281-863-3000, , both of
Lexicon Pharmaceuticals, Inc. Web site: http://www.lexpharma.com/
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