MethylGene opts out of HDAC neurodegenerative collaboration with EnVivo

February 6, 2008 - MethylGene Inc. (TSX:MYG) and EnVivo Pharmaceuticals announced that MethylGene has exercised its right to opt-out of further funding in its collaboration with EnVivo signed in February 2005. EnVivo will continue to research and develop histone deacetylase (HDAC) inhibitors for neurodegenerative disorders such as Huntington's, Alzheimer's and Parkinson's diseases under license from MethylGene. A lead compound has been identified during the collaboration and designated as a clinical candidate by EnVivo. MethylGene will receive royalties on net sales of any approved product as well as a share of any sublicense income from future partnerships EnVivo may enter into with other companies for neurodegenerative programs... MethylGene's Press Release- EnVivo's Press Release-