THE WOODLANDS, Texas, July 08, 2024 (GLOBE NEWSWIRE) — Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced that the Lexicon Board of Directors has appointed Mike Exton, Ph.D. as chief executive officer and director of Lexicon. Dr. Exton succeeds Lonnel Coats who, as previously announced, retired effective July 7, 2024. Dr. Exton most recently served as the global cardiometabolic therapeutic head at Novartis.
“I am confident that Mike is the right person to serve as Lexicon’s next chief executive officer at this critical time for the company,” said Ray Debbane, chairman of Lexicon’s board of directors. “He is an inspiring leader with a demonstrated track record of success, including leading the commercialization of the world’s leading heart failure drug and building out a strong, multiple-product cardiometabolic business during his time at Novartis. His experience in the pharmaceutical industry spans research, development, commercialization and the evaluation and negotiation of strategic acquisitions, licensing and partnerships. We believe that adding Mike’s leadership and complementary capabilities and experience to those of our talented existing management team will position the company for tremendous future success.”
“I am excited and honored to be appointed Lexicon’s new chief executive officer,” said Dr. Exton. “I am impressed with Lexicon’s current assets and pipeline and look forward to leading this talented group of employees as we focus on executing together on the important near-term objectives to drive value for the future.”
Dr. Exton’s broad experience includes fourteen years with Novartis, most recently leading the global cross functional commercial therapeutic areas of cardiovascular and metabolic disease, with key responsibilities in discovery, development, commercial launch preparation, business development, investor relations and media engagement. Dr. Exton’s previous positions with Novartis included vice president and global head, cardiovascular renal and metabolism franchise and vice president and head, cardiovascular renal and metabolism franchise of Novartis USA. Prior to joining Novartis, he was director of business development with Invida Pty Ltd and spent nine years with Eli Lilly Australia, where he held a variety of research, business development and commercial positions. Dr. Exton holds a B.Sc. and a Ph.D. in neuroscience from the University of Newcastle and a Ph.D. in immunology from the University of Essen, Germany.
Concurrent with Dr. Exton’s appointment as chief executive officer, Jeff Wade has been named president and chief operating officer. Mr. Wade has served as Lexicon’s president and chief financial officer since October 2021, having previously served in a series of finance, corporate development, administrative and legal leadership positions since joining the company.
About Lexicon Pharmaceuticals
Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients’ lives. Through the Genome5000™ program, Lexicon’s unique genomics target discovery platform, Lexicon scientists studied the role and function of nearly 5,000 genes and identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to treat disease safely and effectively. Lexicon has commercially launched one of these medicines, INPEFA® (sotagliflozin) in the United States, and has a pipeline of other promising drug candidates in discovery and clinical and preclinical development in neuropathic pain, diabetes and metabolism and other indications. For additional information, please visit www.lexpharma.com.
