Discovery Programs

THE WOODLANDS, Texas, Jan. 3 /PRNewswire/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG) announced today that Stephen J. McAndrew, Ph.D., has been named Vice President of Pharmaceutical Business Development, effective immediately. In his new role, Dr. McAndrew will focus his business development expertise on the development of key collaborations and alliances to maximize the commercial potential of Lexicons drug discovery programs.

"We are very pleased to welcome Steve to the Lexicon management team," said Arthur T. Sands, M.D., Ph.D., President and Chief Executive Officer of Lexicon. "His considerable expertise in both the business development and commercialization of pharmaceutical discoveries will accelerate our business strategy toward pharmaceutical drug development."

Dr. McAndrew brings more than 20 years of pharmaceutical industry expertise to Lexicon. Most recently, he was Director of Biotechnology Licensing at the Bristol-Myers Squibb (NYSE: BMY) Pharmaceutical Research Institute. In this position, he was primarily responsible for identifying, evaluating and negotiating numerous pre-clinical lead compound collaborations and platform technology alliances. Before his 11-year career at Bristol-Myers Squibb, Dr. McAndrew spent seven years conducting research at the Roche Institute of Molecular Biology at Hoffmann La Roche. He holds a Ph.D. in molecular and cellular biology from Ohio University.

"Steves extensive pharmaceutical industry experience and his successful track record in negotiating major pharma-biotech collaborations and alliances will add strategic depth to Lexicons established business development team," said Randall B. Riggs, Senior Vice President of Business Development for Lexicon. "We look forward to focusing his knowledge and expertise on maximizing the very significant value being created in Lexicons drug discovery operations."

Lexicon Genetics Incorporated is a drug discovery company of the post- genome era, using gene knockout technology to define the functions of genes for the discovery of pharmaceutical products. Lexicon is using this technology to fuel drug discovery programs in cancer, cardiovascular disease, immune disorders, neurological disease, diabetes and obesity. Lexicon has established drug discovery alliances and functional genomics collaborations with leading pharmaceutical and biotechnology companies, research institutes and academic institutions throughout the world to commercialize its technology and further develop its discoveries. Additional information about the Company is available through Lexicons corporate website, www.lexicon-genetics.com.

This press release contains "forward-looking statements," including statements about Lexicons 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. These forward-looking statements are based on managements current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to Lexicons ability to achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, that may cause Lexicons 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 "Business - Risk Factors" in Lexicons annual report on Form 10-K for the year ended December 31, 2000, 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.