Lipocine Inc. announced changes to the company's Board of Directors, including the appointments of Dr. Stephen Hill, Mr. Jeffrey Fink, and Dr. R. Dana Ono, and the retirements of Chairman Dr. William Higuchi and Mr. Gordhan Patel. Dr. Mahesh Patel, Lipocine President and Chief Executive Officer, has assumed the position of Chairman of the Board and Dr. Higuchi will serve as the company's Chief Scientific Advisor. Dr. Hill will serve as the lead independent director, chairman of Lipocine's Compensation Committee of the Board of Directors, and as a member of the Audit Committee.

Dr. Hill has significant executive management experience in the therapeutics industry. Dr. Hill currently serves as a director, President and Chief Executive Officer of Targacept Inc. Mr. Fink will serve as chairman of Lipocine's Audit Committee. Mr. Fink has over 20 years of finance and strategy experience within the life science and healthcare industry.

Mr. Fink is currently the managing director of Gambel Oaks Advisors, LLC. Dr. Ono will serve as a member of Lipocine's Compensation Committee and Audit Committee. Dr. Ono brings 30 years of experience managing public and private life science companies.

Throughout his career, he has been engaged in strategic planning, product management, technology acquisition, and commercial development for multiple early stage life science companies and has been involved in a number of key advances for the industry.