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MethylGene's Lead Program, Mgcd265, Nominated "Top Ten Oncology Projects to Watch" By Windhover Information Inc. And Campbell Alliance


10/20/2010 2:40:00 PM

Montreal, Quebec. October 20, 2010 – MethylGene Inc. (TSX: MYG) announced today that its lead multi-targeted Met kinase inhibitor for oncology, MGCD265, has been selected by Windhover and Campbell Alliance as one of the “Top 10 Most Interesting Oncology Projects to Watch.”

“Selected companies have been screened using a strict set of judging criteria for the Top 10 award and represent what our independent committees considered the most attractive oncology opportunities the industry has to offer," said David Cassak, vice president, content, Windhover Conferences, a division of Elsevier Business Intelligence. “Winners have met rigorous criteria, including: unmet medical need, market potential, diversity of indications, strong science, multi-level partnering opportunities (biotech and pharma), potential for new opportunities beyond initial indications and corporate stability.”

MGCD265, MethylGene’s lead oncology product candidate, targets the Met, VEGFRs, Tie-2 and Ron receptor tyrosine kinases. To date, MGCD265 has demonstrated an excellent safety profile as well as evidence of clinical activity and pharmacodynamic coverage of the Met target in patient tumor tissue.

“Having the only Met inhibitor on the list this year, we are pleased that the compound’s unique attributes have been recognized as a promising therapy and partnering opportunity by Windhover’s and Campbell Alliance's prominent selection committee,” said Charles Grubsztajn, President and Chief Executive Officer of MethylGene.

In conjunction with MGCD265’s inclusion in the “Top 10 to Watch” list, MethylGene has been selected to present at Windhover’s Therapeutic Area Partnerships conference which will be held November 2 to 4, 2010 at the Westin Copley Place in Boston, Massachusetts. Additional information on the conference can be found at www.tapartnerships.com.

About Windhover

Windhover Information Inc., an Elsevier company, has led the field in providing analysis of the healthcare industry to decision-makers at all levels since the founding of its flagship publication, IN VIVO, The Business & Medicine Report, in 1983. Windhover provides its information and analysis in many formats, including print, electronic databases, international conferences and webinars. For more on the company's products and services, please see www.windhover.com.

About MGCD265

MGCD265 is a novel, orally active small molecule inhibitor that targets a unique spectrum of receptor tyrosine kinases: Met, VEGFR 1, 2, and 3, Tie-2 and Ron. These kinases play key roles in tumor development, survival and metastasis as well as the inappropriate formation of blood vessels (angiogenesis) that nourish the tumor. MGCD265 is nearing completion of three Phase 1, single-agent and combination clinical trials (with erlotinib and docetaxel) in solid tumors. MGCD265 has an excellent safety profile, either alone or in combination, and has shown preliminary signs of clinical activity. About the Met Target

The Met receptor is a protein that is found on the cell’s surface. When not properly regulated (i.e. over active) it plays a key role in the growth, metastasis and survival of various types of cancers. Met is also involved in angiogenesis and is most strongly associated with major cancers such as non-small cell lung, colorectal and breast carcinomas.

About MethylGene

MethylGene Inc. (TSX: MYG) is a publicly-traded, clinical stage biopharmaceutical company focused on the development and commercialization of novel therapeutics with a focus on cancer. The Company’s product candidates include: MGCD265, an oral, multi-targeted kinase inhibitor targeting the Met, VEGF, Ron and Tie-2 receptor tyrosine kinases that is in multiple clinical trials for cancer; MGCD290, a fungal Hos2 inhibitor for use in combination with fluconazole for fungal infections which has completed Phase 1 clinical studies; and mocetinostat (MGCD0103), an oral, isoform-selective HDAC inhibitor for cancer which has been in multiple Phase 2 clinical trials and is currently in a Phase 2 trial in refractory or relapsed follicular lymphoma. Mocetinostat is licensed to Taiho Pharmaceutical Co. Ltd in certain Asian countries. A fourth compound discovered using MethylGene’s HDAC platform, EVP-0334 - a potential cognition enhancing agent for neurodegenerative diseases has successfully completed Phase 1 trials sponsored by EnVivo Pharmaceuticals Inc. MethylGene also has a funded collaboration with Otsuka Pharmaceutical Co. Ltd. for applications in ocular diseases using the Company’s proprietary kinase inhibitor chemistry. Please visit our website at www.methylgene.com.

Investor Relations Contacts

Rhonda Chiger Rx Communications Group, LLC Phone : 917-322-2569 rchiger@rxir.com Charles Grubsztajn President & CEO MethylGene Inc. Phone: 514-337-3333 ext. 373 mctavishk@methylgene.com



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