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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer

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From: Icebrg12/15/2006 10:38:19 AM
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MethylGene to Increase Investment in HDAC and Kinase 'c-MET' Small Molecule Programs

Prioritizes Oncology Programs

MONTREAL, QUEBEC -- (MARKET WIRE) -- December 15, 2006 -- MethylGene Inc. (TSX: MYG) today announced that based on recent R&D successes in its small molecule oncology programs and a strategic review of its cancer pipeline, it will not pursue additional clinical trials for MG98, its second generation antisense compound targeting DNA methyltransferase. This decision is made with its North American co-development partner for the compound, MGI PHARMA, INC. The companies have agreed to seek alternative development partners or arrangements for the MG98 program.
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