MethylGene Inc.

MethylGene Inc.

June 27, 2012 10:26 ET

MethylGene Announces the Appointment of Dr. Rodney Lappe to its Board of Directors

MONTREAL, CANADA--(Marketwire - June 27, 2012) - MethylGene Inc. (TSX:MYG) today announced the election of Rodney Lappe, Ph.D., to the Company's Board of Directors at the Company's annual meeting of shareholders held earlier today.

"Over the past year we have significantly enhanced our management team while adding four industry leaders to our Board," said Charles Grubsztajn, President and Chief Executive Officer of MethylGene. "Dr. Lappe's background complements and enhances our Board, and we welcome his guidance as we advance the Company towards significant milestones."

Dr. Lappe brings 29 years of drug discovery experience in the pharmaceutical and biotech industries to MethylGene. Before joining Tavistock Life Sciences in early 2012, he was Group Sr. Vice President, Pfizer Worldwide Research and Development and Chief Scientific Officer for CovX in San Diego, California. Dr. Lappe was responsible for the advancement of three novel protein bio-conjugates through his work at CovX that are now in clinical testing as well as two additional clinical candidates in late stage preclinical development. Dr. Lappe was also responsible for the continued growth and productivity of Pfizer's four internal Biotech Units, Rinat, the Center for Integrated Biology and Biotherapeutics and the Oligonucleotide Technology Unit. He served as Co-lead of the integration of Wyeth R&D after the acquisition by Pfizer in 2009. Prior to joining CovX, Dr. Lappe served as Vice President for cardiovascular and metabolic diseases at Pharmacia where he contributed to the registration of Inspra®, a novel aldosterone receptor antagonist. Prior to joining Pharmacia, he held positions of increasing responsibility with Wyeth, Rorer Central Research, CIBA Geigy and Searle Pharmaceuticals. Dr. Lappe received his PhD in Pharmacology from Indiana University and his BA from Blackburn College.

Dr. David Drutz, who has been a board member since 2001, did not stand for re-election. The Company would like to express its appreciation to Dr. Drutz for his guidance and support over the past 11 years.

About MethylGene

MethylGene Inc. (TSX:MYG) is a small molecule drug development company that is advancing two novel therapeutics for cancer and infectious disease in human clinical trials. The Company's lead product candidates are: MGCD290, an oral antifungal agent targeting the fungal Hos2 enzyme that is currently in Phase II trials for vulvovaginal candidiasis, and MGCD265, an oral Met/VEGF receptor kinase inhibitor that is in Phase I/II clinical trials for solid tumor cancers. MethylGene owns all rights to its lead product candidates, and has partnerships with Otsuka Pharmaceutical Co. Ltd., Taiho Pharmaceutical Co. Ltd., and EnVivo Pharmaceuticals, Inc. for its other pipeline programs.

Certain statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, may constitute forward-looking statements. Such statements, based as they are on the current expectations of management of MethylGene, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond MethylGene's control. These risks and uncertainties could cause future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Such results, performance or achievements include, but are not limited to, the timing and effects of regulatory action; the continuation of collaborations; the results of clinical trials; the timing of enrollment or completion of clinical trials; the success, efficacy or safety of MGCD265, MGCD290 or our other programs; the ability to scale up, formulate and manufacture sufficient GMP, clinical or commercialization quantities of MGCD265, MGCD290 or our other products, and the relative success or the lack of success in developing and gaining regulatory approval and/or market acceptance for any compound or new product including MGCD265 or MGCD290. Such risks include, but are not limited to, the impact of general economic conditions, economic conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which MethylGene does business, stock market volatility, fluctuations in costs, expectations with respect to our intellectual property position and our ability to protect our intellectual property and operate our business without infringing upon the intellectual property rights of others, changes in the competitive landscape including changes in the standard of care for the various indications in which MethylGene is involved, and changes to the competitive environment due to consolidation, as well as other risks, as described in MethylGene's Annual Information Form under the heading "Risk Factors" which you are urged to read, and all other documents filed by the Company that can be found at Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. The reader should not place undue reliance on the forward-looking statements included in this presentation. These statements speak only as an update on the date they are made and MethylGene expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in MethylGene's expectations with regard thereto of any change in events, conditions or circumstances on which any such statements are based except in accordance with law.

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