MethylGene Inc.

MethylGene Inc.

October 06, 2011 08:58 ET

MethylGene Appoints Joseph Walewicz as Vice President, Business and Corporate Development

MONTREAL, CANADA--(Marketwire - Oct. 6, 2011) - MethylGene Inc. (TSX:MYG) today announced the appointment of Mr. Joseph Walewicz as Vice President, Business and Corporate Development.

Mr. Walewicz will be leading MethylGene's partnering and investor relations efforts. Reporting to Mr. Charles Grubsztajn, President and Chief Executive Officer, Mr. Walewicz brings over twelve years of experience as a senior healthcare equity research analyst for several prominent North American healthcare investment banks. Prior to joining MethylGene, Mr. Walewicz was Vice President, Special Projects at Paladin Labs (TSX:PLB), a specialty pharmaceutical company, and Chief Operating Officer of Paladin's subsidiary, Paladin Biosciences. Mr. Walewicz has an MBA from McGill University, a B.Sc. (Biochemistry) and a B.A. (Economics) from Queen's University, and is a CFA charterholder.

"We are very pleased to welcome Joe to our team," said Mr. Grubsztajn. "With more than seventeen years of experience in the biopharma sector, Joe has in depth knowledge of capital markets and the biotechnology industry, and will play a key role in the growth of the Company."

"I am very excited to be joining MethylGene at this time in the Company's history," said Mr. Walewicz. "MethylGene has two exciting drug programs in mid-stage development, MGCD265 and MGCD290, and a strong balance sheet. I look forward to working with the management team to build a successful late-stage biotechnology company."

About MethylGene

MethylGene Inc. (TSX:MYG) is a clinical-stage biopharmaceutical company that develops novel therapeutics for cancer and infectious disease. The Company's lead product candidates include: MGCD265, an oral Met/VEGF receptor kinase inhibitor that is in Phase 1/2 clinical trials for solid tumor cancers and MGCD290, a fungal Hos2 inhibitor, for use in combination with fluconazole for fungal infections, which has completed Phase 1 clinical studies. The Company's partners include Otsuka Pharmaceutical Co. Ltd., Taiho Pharmaceutical Co. Ltd., and EnVivo Pharmaceuticals, Inc.

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 mocetinostat (MGCD0103); the ability to scale up, formulate and manufacture sufficient GMP, clinical or commercialization quantities of MGCD265, MGCD290 or mocetinostat, 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, MGCD290 or mocetinostat. 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 for the fiscal year ending December 31, 2010, 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 is under no obligation to revise such statements as a result of any event, circumstance or otherwise except in accordance with law.

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