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METHYLGENE ANNOUNCES ANNUAL MEETING OF SHAREHOLDERS AND CORRECTS PREVIOUSLY DISCLOSED INTERIM DATA FOR TRIAL 005
Montreal, Quebec, April 4, 2008 - MethylGene Inc. (TSX: MYG), will hold its Annual General Meeting of Shareholders on Thursday, April 17th 2008 at 10:00 a.m. EDT at the Hilton Montreal Bonaventure Hotel, 900 de la Gauchetière Street West, Montreal, Quebec. For those who are unable to attend in person, the corporate presentation given by Mr. Donald F. Corcoran, MethylGene's President and Chief Executive Officer will be available by live webcast on the Company's website at www.methylgene.com.
WHAT: Annual General Meeting of Shareholders of MethylGene
WHERE: Hilton Montreal Bonaventure, 900 de la Gauchetière Street West, Montreal
WHEN: Thursday, April 17th 2008 at 10:00 a.m. EDT
MGCD0103 - Correction of Previously Disclosed Interim Data for Trial 005.
Trial 005, a Phase I/II combination trial with Vidaza® in acute myelogenous leukemia (AML) and myelodysplastic syndromes (MDS): In this trial, the overall response rate for patients at all dose levels remains at 36 percent as previously disclosed (n=52 evaluable patients). For patients treated with the recommended Phase II dose of 90mg, the response rate is 43 percent (n=23 evaluable patients); this corrects the previously disclosed 53 percent response rate due to a clerical error in the number of evaluable patients at this dose. The corrected data does not change the overall response rate of 36 percent and continues to support the choice of 90mg as the MGCD0103 dose in the planned three-arm, randomized Phase II combination trial with Vidaza® (Trial 013).
About MethylGene
MethylGene Inc. (TSX: MYG) is a publicly-traded, clinical stage, biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for cancer. The Company's lead product, MGCD0103, is an oral isotype-selective HDAC inhibitor presently in multiple clinical trials for solid tumors and hematological malignancies, including Phase II monotherapy and Phase I, Phase I/II and Phase II combination trials with Vidaza(R), Gemzar(R) and Taxotere(R). MGCD265 is an oral, multi-targeted kinase inhibitor targeting the c-Met, Tie-2, Ron and VEGF receptor tyrosine kinases which is expected to commence Phase I clinical trials in April 2008. In addition, MethylGene’s preclinical programs include: MGCD290, an HDAC inhibitor in combination with azoles for fungal infections, a kinase program for ocular diseases, and a sirtuins program for cancer. MethylGene's development and commercialization partners include Celgene Corporation, Otsuka Pharmaceutical Co. Ltd., 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, MGCD265 or MGCD290; the ability to scale up, formulate and manufacture sufficient GMP, clinical or commercialization quantities of MGCD0103, MGCD265 or MGCD290, 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, MGCD265 or MGCD290. 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, 2007, under the heading ‘risk factors,’, 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.
Contact Information:
Donald F. Corcoran
President & CEO
MethylGene Inc.
Phone: 514-337-3333 ext. 373
mctavishk@methylgene.com
Rhonda Chiger
Rx Communications Group, LLC
Phone: 917-322-2569
rchiger@rxir.com
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