Methylgene and EnVivo sign HDAC Collaboration Agreement February 01, 2005
Methylgene and EnVivo sign HDAC Collaboration Agreement – Companies to co-develop isotypic selective HDAC inhibitors for neurodegenerative diseases
Montreal, Quebec, February 8, 2005 - MethylGene Inc. (TSX:MYG) and EnVivo Pharmaceuticals Inc. today announced they have signed an exclusive collaboration agreement to research, develop and commercialize therapeutics for the treatment of neurodegenerative disorders such as Alzheimer’s, Parkinson’s and Huntington’s diseases using MethylGene’s isotypic selective, small molecule, histone deacetylase (HDAC) inhibitors.
Under the agreement, MethylGene will contribute its proprietary chemistry expertise to develop small molecule HDAC inhibitors in a collaboration that utilizes EnVivo’s proprietary in vivo models and discovery platform for neurodegenerative diseases. MethylGene will receive an upfront license payment and contract research payments totaling U.S. $1.1 million during the initial year of the collaboration. The two companies thereafter intend to jointly fund research, development and commercialization and will equally share resulting profits, subject to opt-out and dilution provisions.
In July 2004, Watertown, MA.-based EnVivo, a private U.S. biopharmaceutical company focused on the treatment and prevention of neurodegenerative diseases, exercised its option to enter into an exclusive collaboration agreement with MethylGene, a Montreal, Quebec-based biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics in cancer and infectious disease, upon successfully completing a proof of concept study.
"The execution of this collaboration agreement is another milestone in MethylGene’s efforts to capitalize on our significant HDAC expertise and further validates the value of our HDAC program beyond our current oncology focus," said Donald F. Corcoran, President and CEO of MethylGene. "As regulators of gene expression, the family of HDAC enzymes are the subject of significant research efforts and industry enthusiasm. This collaboration is an example of our strategy to partner with companies having focus and expertise that complement our core HDAC expertise in order to pursue additional market opportunities. We will continue to exploit potential non-oncology HDAC indications through partnerships and in-house research efforts."
"Studies by EnVivo and others suggest that HDAC enzyme activity may play a role in neurodegenerative diseases," said Stephen C. Knight, M.D., Chairman of EnVivo. "HDAC inhibitors are a promising area of pharmaceutical research where we can utilize our proprietary discovery platform in order to develop drugs for neurodegeneration. We are looking forward to collaborating with MethylGene, a company with demonstrated chemistry expertise that complements the CNS drug discovery expertise we have built at EnVivo."
About 4.5 million patients in the United States suffer from Alzheimer’s disease, 1.5 million from Parkinson’s disease and 30,000 from Huntington’s disease. The worldwide market for drugs to treat these diseases is currently estimated at more than U.S. $3.5 billion.
About HDAC
Histone deacetylases (HDAC) are a family of 11 enzymes that are involved in the regulation of gene expression and as such may be master regulators for disease. It has been established in the scientific literature and observed by MethylGene’s scientists and potential collaborators, such as EnVivo, that isotypic selective inhibition of certain HDAC enzymes may have the potential to impact diseases including cancer, diabetes, inflammation, cardiovascular and neurodegenerative diseases. MethylGene is currently developing MGCD0103, an isotypic selective inhibitor targeting specific HDAC enzymes involved in the regulation of tumour suppressor genes in cancer. MGCD0103 is currently in Phase I dose-escalating monotherapy trials for solid tumours and hematological malignancies.
About EnVivo
EnVivo Pharmaceuticals (located in Watertown, MA.) is a biopharmaceutical company dedicated to discovering and developing small molecule therapeutics for disorders of the central nervous system (CNS) specifically, neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease, Huntington’s disease, and spinocerebellar ataxias. The company has created a new paradigm in drug discovery using a proprietary screening platform based on Drosophila disease model s and cell-based assays coupled with expertise in informatics and neurobiology to rapidly identify hits that are then tested in vertebrate assays. The company’s current programs focus on histone deacetylases (HDACs), in collaboration with MethylGene, nicotinic acetylcholine receptors and kinases. For more information about EnVivo, please visit www.envivopharma.com.
About MethylGene
MethylGene is a publicly traded biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics in cancer and infectious disease. Two cancer product candidates, MG98, partnered with MGI Pharma for North America and MGCD0103, partnered with Taiho Pharmaceutical for certain Asian countries, are currently in clinical trials.
MG98 has entered a randomized two-step Phase II combination trial with interferon alpha in metastatic renal cell cancer. MGCD0103 is currently in Phase I dose-escalation monotherapy trials against solid tumours and hematological malignancies. In collaboration with Merck, MethylGene is developing small molecule beta-lactamase inhibitors to overcome antibiotic resistance. MethylGene has a portfolio of preclinical programs for its kinase and histone deacetylase (HDAC) inhibitors for both oncology and non-oncology indications, and is exploiting its core HDAC expertise for the treatment of neurodegenerative diseases with EnVivo Pharmaceuticals. Please visit MethylGene’s website at www.methylgene.com.
Except for historical information, this press release may contain forward-looking statements, which reflect the Company’s current expectation regarding future events. These forward-looking statements involve risk and uncertainties,(which can be found in the Company’s prospectus dated June 18, 2004 and can be found on www.sedar.com) which may cause but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Company’s ongoing quarterly and annual reporting.
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For MethylGene Inc.: |
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Donald F. Corcoran |
James Smith |
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President & CEO |
The Equicom Group |
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MethylGene Inc. |
Investor and Media Inquiries |
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Phone: 514-337-3333 ext. 224 |
Phone: 416-815-0700 ext.229 |
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Fax: 514-337-0550 |
Fax: 416-815-0080 (fax) |
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corcorand@methylgene.com |
jsmith@equicomgroup.com |
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