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XenoPort Announces New Employment Inducement Awards

  XenoPort Announces New Employment Inducement Awards

Business Wire

SANTA CLARA, Calif. -- February 4, 2013

XenoPort, Inc. (Nasdaq: XNPT) reported today that equity awards were made to
two new employees subject to the terms and conditions of the XenoPort 2010
Inducement Award Plan. The employees were granted stock options to purchase an
aggregate of 150,000 shares of XenoPort's common stock and restricted stock
units representing an aggregate of 10,000 shares of XenoPort’s common stock.
The stock options have a per share exercise price of $8.41, the closing
trading price of XenoPort’s common stock on the Nasdaq Global Select Market on
the February 1, 2013 grant date. The stock options have a ten-year term and
vest over four years, with 25% cliff vesting on the first anniversary of the
employee’s date of hire and 1/48th of the options vesting monthly thereafter.
The restricted stock units vest in four equal annual installments on
anniversaries of the February 1, 2013 grant date. The equity awards were
approved by the independent compensation committee of XenoPort’s board of
directors and were granted as an inducement material to the new employees
entering into employment with XenoPort in accordance with Nasdaq Market Place
Rule 5635(c)(4).

About XenoPort

XenoPort is a biopharmaceutical company focused on developing and
commercializing a portfolio of internally discovered product candidates for
the potential treatment of neurological disorders. Horizant® (gabapentin
enacarbil) Extended-Release Tablets is approved in the United States for the
treatment of moderate-to-severe primary restless legs syndrome (RLS) in adults
and for the management of postherpetic neuralgia in adults. GlaxoSmithKline
holds commercialization rights for Horizant in the United States during a
transition period ending on April 30, 2013, following which XenoPort will be
responsible for the further development, manufacturing and commercialization
of Horizant. Regnite® (gabapentin enacarbil) Extended-Release Tablets is
approved and is being marketed for the treatment of RLS in Japan. Astellas
Pharma Inc. holds all development and commercialization rights for Regnite in
Japan and five other Asian countries. XenoPort holds all other world-wide
rights to gabapentin enacarbil. XenoPort’s pipeline of product candidates
includes potential treatments for patients with spasticity, Parkinson’s
disease and relapsing-remitting multiple sclerosis. To learn more about
XenoPort, please visit the Website at www.XenoPort.com.

XENOPORT, Horizant and Regnite are registered trademarks of XenoPort, Inc.

XNPT2G

Contact:

XenoPort, Inc.
Jackie Cossmon, 408-616-7220
ir@XenoPort.com