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Lipocine Inc. Announces Strengthening Of Its Senior Management Team With Addition Of Robert Merrell As Vice President Of Finance


7/17/2006 1:42:12 PM

SALT LAKE CITY, July 17 /PRNewswire/ -- Lipocine Inc. announced today the appointment of Robert K. Merrell, CPA and graduate of Kellogg Graduate School of Management, as Vice President of Finance. Besides traditional accounting responsibilities, Mr. Merrell will be responsible for financial planning and financing strategy as a part of Lipocine's senior management team.

Most recently, Mr. Merrell was a Vice President at Myriad Genetics Laboratories. Prior to Myriad, Mr. Merrell was CFO at NPS Pharmaceuticals where he was instrumental in taking NPS from an early stage company thru successful IPO and three subsequent follow-on offerings raising approx. $300 million. He was also actively involved in mergers and acquisitions. Prior to NPS, he was a senior manager at KPMG Peat Marwick.

"We are pleased to attract such an experienced and talented executive to Lipocine at this important time," said Dr. Mahesh Patel, President and CEO of Lipocine Inc. "Bob brings a unique blend of expertise in private and public company financing, mergers and acquisitions, and financial management. His experience in leading a small entrepreneurial pharmaceutical/biotech company from very early stage financing through IPO and multiple follow-on offerings will be a tremendous asset to Lipocine going forward as we develop and expand our product portfolio and strengthen our senior management team."

Lipocine Inc. is a pharmaceutical company leveraging its proprietary drug delivery technologies to commercialize innovative pharmaceutical products. Lipocine business objectives are to develop products by improving established drugs to incorporate patient friendly attributes such as faster absorption, lower dose, fewer side effects, less frequent dosing, no food effect. Lipocine has several products available for licensing in key therapeutic areas.

Contact: Jerry Simmons, mail to: gts@lipocine.com Ph: (801) 994-7383 (ext 2110) Lipocine Inc. www.lipocine.com

Lipocine Inc.

CONTACT: Jerry Simmons of Lipocine Inc., +1-801-994-7383, ext. 2110,gts@lipocine.com


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