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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (1534)	10/11/2004 3:26:31 AM
From: Icebrg	Read Replies (2) \| Respond to of 1826

MethylGene/MGI Pharma The status of the cooperation agreement regarding MG98 between the two companies is somewhat diffuse. In the 2004 10K MOGN stated: MG98 and Small Molecule DNA Methyltransferase Inhibitor Programs In August 2000, as part of our strategy to expand our portfolio of marketed and development stage anti-cancer products, we entered into an exclusive license, research and development agreement with MethylGene Inc. for North America rights to its proprietary anti-cancer product candidate MG98 and its DNA methyltransferase small molecule inhibitor program. Included within our license rights is a United States patent on a method for reversing the tumor-causing state of a cell by administering an agent that corrects an aberrant methylation pattern in the DNA of the cell. MethylGene is a chemistry-driven, rational drug design and development company focused on the inhibition of enzyme targets that are associated with disease. It pursues two approaches to enzyme inhibition: rationally designed mRNA inhibitors that block the production of enzymes and rationally designed small molecule inhibitors that block the activity of enzymes. In a December 2003 amendment to the License Agreement, MethylGene acknowledged full satisfaction of our payment obligations and suspended further payment obligations by us pending a planned June 2004 data review of the small molecule inhibitor program and following completion by MethylGene of a planned clinical trial with MG98. If we resume development, our financial responsibilities under the License Agreement would also resume. This in combination with the absence of MOGN's name on the recent PR appears to indicate that MOGN's interest in the compound is very limited for the time being. On the website MG98 is indicated in the pipeline for the treatment of MDS and AML although the agreement covers all types of cancers. Erik