MONTREAL, CANADA -- (Marketwire) -- 02/19/13 -- MethylGene Inc. ("MethylGene" or the "Company") (TSX: MYG) today announced that Mark J. Gergen has been appointed to the position of Executive Vice President and Chief Operations Officer, effective immediately. In this new role, Mr. Gergen will have broad responsibility for business operations including finance, business development, human resources, corporate communications and investor relations, as well as a variety of administration functions.
Mr. Gergen is a healthcare industry veteran and most recently was Senior Vice President, Corporate Development for Amylin Pharmaceuticals, Inc. At Amylin, Mr. Gergen was a member of the Executive Committee with broad responsibilities including corporate development, strategic planning, and alliance management. While at Amylin, Mr. Gergen was responsible for the establishment of a number of key partnerships, he also led the dissolution of Amylin's long term diabetes partnership with Eli Lilly and Company and the subsequent sale of Amylin to Bristol-Myers Squibb in 2012 in a transaction valued at $7 billion.
Prior to Amylin, Mr. Gergen held leadership roles of increasing responsibility in healthcare and life science companies. He was Executive Vice President of CardioNet, Inc. with broad responsibilities including those of CFO and COO. He served as Chief Financial and Development Officer and later CEO and Chief Restructuring Officer of Advanced Tissue Sciences, Inc. and held key leadership roles for Medtronic. Inc. Mr. Gergen began his career as an attorney and received his Juris Doctor degree from the University of Minnesota Law School and his undergraduate degree in business administration from Minot State University. Mr. Gergen has served on a number of private company and organization boards of directors.
"I am pleased to welcome Mark to the MethylGene team at an important juncture in our company's development" said Dr. Charles Baum, President and CEO. "His experience will be instrumental in accelerating our business plan."
"I am excited to join Charles and the team at MethylGene," said Mr. Gergen "The Company has a unique opportunity to help patients by developing novel therapies for unmet medical needs with promising anti-fungal and oncology assets that have the potential to create value for shareholders."
MethylGene Inc. (TSX: MYG) is a drug development company that is advancing novel therapeutics for cancer and infectious disease in human clinical trials. The Company's lead product candidates are: MGCD290, an oral antifungal agent targeting the fungal Hos2 enzyme that is in a Phase II trial for vulvovaginal candidiasis, and MGCD265, a multi-targeted receptor tyrosine kinase inhibitor that is in Phase I/II clinical trials for patients with solid tumors. MethylGene owns all rights to its lead product candidates, and has partnerships with Otsuka Pharmaceutical Co. Ltd., Taiho Pharmaceutical Co. Ltd., and EnVivo Pharmaceuticals, Inc. for its other pipeline programs.
Certain statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, may constitute forward-looking information and forward-looking statements (collectively "forward-looking statements" within the meaning of applicable securities laws). Such statements, based as they are on the current expectations of management of MethylGene and upon what management believes to be reasonable assumptions, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond MethylGene's control. Such statements can usually be identified by the use of words such as "may", "would", "believe", "plan", "estimate" and other similar terminology, or state that certain actions, events or results "may" or "would"be taken, occur or be achieved. 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 MGCD265, MGCD290 or our other programs; the ability to scale up, formulate and manufacture sufficient GMP, clinical or commercialization quantities of MGCD265, MGCD290 or our other products, 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 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, as described in MethylGene's Annual Information Form under the heading "Risk Factors" which you are urged to read, 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 news release. These statements speak only as of the date they are made and MethylGene expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in MethylGene's expectations with regard thereto of any change in events, conditions or circumstances on which any such statements are based except in accordance with law.
Joseph Walewicz, CFA
Vice President, Business & Corporate Development
514-337-3333 ext. 373
The Trout Group LLC
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