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Xenon Receives BIOTECanada Gold Leaf Award

June 17, 2008

VANCOUVER, British Columbia, June 17 /PRNewswire/ — Xenon Pharmaceuticals Inc., a drug discovery and development company, is pleased to announce today that it has been awarded the Promising Early Stage Company of the Year Award by BIOTECanada in the Health category for 2008.

“We are delighted to have received this prestigious award, one of BIOTECanada’s four Gold Leaf Awards presented this year,” commented Simon Pimstone, Xenon’s President and CEO. “This honor is important and made even more so by the fact that it represents recognition by our industry peers of both our achievements to date and the potential that Xenon offers.”

“Xenon has made substantial progress in advancing its pipeline of novel compounds acting against targets derived from our clinical genetics approach. In the next 12 months we should have multiple products in clinical development for potential blockbuster markets. Our product pipeline is diverse, and we are excited to be advancing our discoveries into clinical opportunities,” Pimstone added.

About Xenon Pharmaceuticals Inc.

Xenon is a privately owned, clinical genetics-based drug discovery and development company engaged in developing small molecule therapies focusing in pain, lipid modification for treating diabetes/obesity and other diseases, as well as therapies for treating anemia and diseases of iron overload. Xenon has partnerships with Novartis Pharma AG, Roche and Takeda Pharmaceutical Company Ltd. For more information, visit the Company’s website at http://www.xenon-pharma.com/

Xenon Pharmaceuticals Inc.

CONTACT: Dr. Simon Pimstone, President & CEO of Xenon PharmaceuticalsInc., +1-604-484-3300, ddunn@xenon-pharma.com

Web site: http://www.xenon-pharma.com/




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