Pharmion and MethylGene Announce Collaboration to Develop Sirtuin Inhibitors as Anti-Can... (share theresulting net profits equally w...)

Pharmion and MethylGene Announce Collaboration to Develop Sirtuin Inhibitors as Anti-Cancer Agents

Date:8/20/2007

share the resulting net profits equally with Pharmion. If MethylGene exercises its right, at its sole discretion, to discontinue development funding, Pharmion will be responsible for 100 percent of development costs incurred thereafter. Under MethylGene's October 2003 agreement with Taiho Pharmaceutical, Taiho has the exclusive right to develop and commercialize any resulting sirtuins cancer product in Japan, Korea, Taiwan and China in exchange for preclinical funding, royalties and milestones.

About Epigenetics

Epigenetics refers to changes in the regulation of gene expression, and DNA methylation and histone deacetylation are two of the more studied epigenetic regulators of gene expression. Epigenetic changes can silence gene expression and, unlike DNA mutations, may be reversed by targeting the enzymes involved. The silencing of key cell cycle control genes and tumor suppressor genes through these two mechanisms of epigenetic regulation has been demonstrated in vitro and in vivo in hematological malignancies and in solid tumors. These key growth control genes can be re-expressed in cancer cells when DNA hypermethylation is reversed by Vidaza and/or inappropriate histone deacetylation is inhibited by MGCD0103. Rather than using molecules that kill both normal and tumor cells, as do traditional anticancer agents, targeted epigenetic therapy reactivates the silenced tumor suppressor genes thereby re-establishing the cancer cell's natural mechanisms to control abnormal growth.

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'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/II combination trials with Vidaza(R) and Gemzar(R). MGCD265 is an oral kinase
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SOURCE Pharmion Corporation

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Pharmion and MethylGene Announce Collaboration to Develop Sirtuin Inhibitors as Anti-Can...(share theresulting net profits equally w...)