MethylGene to Present at BioFinance 2012 Conference

Montreal, Canada. May 23, 2012 – MethylGene Inc. (TSX:MYG) today announced that Mr. Joseph Walewicz, Vice President, Business and Corporate Development, will present an overview of the Company at the BioFinance 2012 Conference which will be held at the St. Andrew’s Club & Conference Centre in Toronto. Mr. Walewicz will be presenting on Wednesday, May 30 at 9:20 a.m.

BioFinance is the leading investor conference in Canada for the life sciences industry.

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 2 trials for vulvovaginal candidiasis, and MGCD265, an oral Met/VEGF receptor kinase inhibitor that is in Phase 1/2 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.

Investor Relations Contact:

Joseph Walewicz, CFA

Vice President, Business & Corporate Development

MethylGene Inc.

Phone: 514-337-3333 ext. 373

ir@methylgene.com

www.methylgene.com

Thomas Fechtner

Vice President

The Trout Group LLC

Phone: 646-378-2931

tfechtner@troutgroup.com

www.troutgroup.com

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