Change of name for genetics research company

Vancouver, BC – June 29, 2004 – Xenon Genetics announced today that, effective immediately, it has changed its name to Xenon Pharmaceuticals. It says the new name more accurately reflects its drug discovery and development focus and its goal of commercializing novel drugs.

Xenon’s drug programs are based upon novel targets that have a high degree of human validation. Its lead program, a small molecule treatment for obesity and metabolic syndrome, is expected to advance into clinical development in early 2005. Xenon’s CNS and iron metabolism drug programs are currently in lead optimization.

“We are making significant and rapid progress towards our objective of developing innovative medicines based on genetically defined targets,” says Simon Pimstone, president & CEO. “Our strong clinical genetics platform will continue to contribute to our success. The new name more-clearly communicates our progress and business focus.”