MethylGene Inc.
TSX : MYG

MethylGene Inc.

April 17, 2007 07:30 ET

MethylGene Presents Clincal Biomarker Data for MGCD0103 at AACR Annual Meeting

- Phase II MGCD0103 Clinical Trial Data to be Presented at Upcoming June ASCO Meeting -

MONTREAL, QUEBEC--(CCNMatthews - April 17, 2007) - MethylGene Inc. (TSX:MYG) disclosed biomarker data for its histone deacetylase (HDAC) inhibitor, MGCD0103, at the American Association for Cancer Research (AACR) Annual Meeting in Los Angeles, California from April 14-18, 2007.

Pharmacodynamic (PD) effects of HDAC inhibitors are typically monitored by analysis of histone acetylation or HDAC enzyme activity in peripheral white cells. Additional quantitative and biologically relevant biomarkers beyond the current methods are desired and are under investigation for MGCD0103.

In a poster presentation entitled "Induction of Metallothionein-3 Transcription as a Pharmacodynamic Biomarker for Histone Deacetylase Inhibitor MGCD0103 in vitro and in vivo" (poster #1832), MethylGene presented results demonstrating that the transcription of metallothionein-3 (MT3) was induced by MGCD0103 in a dose-dependent and time-dependent manner in a variety of human cancer cells in vitro and in human peripheral white blood cells obtained from patients (ex vivo). Therefore, MT3 may be a novel biomarker for pharmacodynamic (PD) effects for MGCD0103 in clinical studies.

In a second poster presentation entitled "Induction of Interleukin-6 Expression by the Histone Deacetylase Inhibitor, MGCD0103, in Leukemia Patients in vivo Correlates with Clinical Efficacy" (poster #1831), MethylGene presented data for a plasma protein marker to monitor PD effects of MGCD0103 for two hematological clinical trials. The Company demonstrated that Interleukin-6 (IL-6) was specifically induced in cells from acute myelogenous leukemia (AML) patients treated with MGCD0103 alone or in combination with Vidaza®. There appeared to be a correlation between induction of IL-6 and clinical responsiveness.

The Company will present additional MGCD0103 interim clinical data (including interim Phase II trial data) at the upcoming ASCO meeting in June in Chicago, Illinois. Specific abstracts and presentations will be disclosed closer to the meeting date.

About MethylGene

MethylGene Inc. (TSX:MYG) is a publicly-traded biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for cancer. The Company focuses on some of the most promising areas of oncology such as histone deacetylase (HDAC) and kinase inhibitors. The Company's lead product is MGCD0103, an oral isotype-selective HDAC inhibitor presently in multiple clinical trials for solid tumors and hematological malignancies, including Phase II monotherapy and Phase I/II combination trials with Vidaza® and Gemzar®. MGCD265 is an oral kinase inhibitor targeting the c-Met, Tie-2, Ron and VEGF receptor tyrosine kinases. In addition, MethylGene has several preclinical HDAC programs in non-oncology indications such as fungal infections (in combination with azoles to overcome resistance), Huntington's disease and a beta-lactamase program to overcome antibiotic resistance. MethylGene's development and commercialization partners include Pharmion Corporation, Taiho Pharmaceutical and EnVivo Pharmaceuticals. Please visit our website at www.methylgene.com.

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 MGCD0103 or MGCD265; the ability to scale up, formulate and manufacture sufficient GMP, clinical or commercialization quantities of MGCD0103 or MGCD265, 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 MGCD0103 or MGCD265. 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, which you are urged to read, as described in MethylGene's Annual Information Form for the fiscal year ending December 31, 2006, under the heading 'risk factors,' the final prospectus filed on February 23, 2007, and all other documents filed by the Company that can be found at www.sedar.com. 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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