MethylGene to Present at the 14th Annual Biotechnology Industry Organization (BIO) CEO & Investor Conference

Montreal, Canada. February 7, 2012 – MethylGene Inc. (TSX: MYG) announced today that Mr. Charles Grubsztajn, President and Chief Executive Officer, will present a corporate overview of the Company on Monday, February 13 at 4:30 p.m. EST, at the 14th Annual BIO CEO & Investor Conference. The event is being held at the Waldorf=Astoria Hotel in New York, NY.

Mr. Grubsztajn’s presentation will be available live via webcast at www.methylgene.com.

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 will start randomized Phase 2 trials in the near term. The Company’s partners include Otsuka Pharmaceutical Co. Ltd., Taiho Pharmaceutical Co. Ltd., and EnVivo Pharmaceuticals, Inc.

Investor Relations Contact:

Joseph Walewicz

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