June 2, 2009 (FinancialWire) — Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) has appointed Ajay Bansal executive vice president, corporate development and chief financial officer. He was formerly CFO and EVP of corporate and business development for Tercica, Inc., which was acquired by Ipsen in 2008.

From February 2003 to January 2006, Ipsen was CFO of Nektar Therapeutics (NASDAQ: NKTR). From July 2002 until joining Nektar, he was director of operations analysis at Capital One Financial (NYSE: COF) and, from August 1998 to June 2002, he was with Mehta Partners, a financial advisory firm where he was named partner in January 2000.

Before joining Mehta Partners, Bansal spent more than 10 years in product management and strategy roles at Novartis AG and as a management consultant with Arthur D. Little, McKinsey & Co. and ZS Associates.

The Woodlands, Texas-based Lexicon is a biopharmaceutical company that currently has five drug candidates in development for autoimmune disease, carcinoid syndrome, diabetes, glaucoma and irritable bowel syndrome.

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