SAN DIEGO, June 13 /PRNewswire-FirstCall/ -- Metabasis Therapeutics(Nasdaq: MBRX), will present at the American Diabetes Association's 65thAnnual Scientific Sessions held in San Diego, June 10-14, 2005. Dr. MarkErion, executive vice president of research and development for Metabasis,will participate in a symposium titled, "New Targets for Glycemic Control."Dr. Erion's presentation is titled, "MB06322 (CS-917): A Potent and SelectiveInhibitor of Fructose 1, 6-Bisphosphatase for Controlling Gluconeogenesis inType 2 Diabetes" and will take place on June 14, 2005. This presentation willdescribe Metabasis' efforts to identify an important new class of compoundswith potential for treating diabetes. Results from preclinical models will bepresented which show that selective gluconeogenesis inhibition has thepotential to be a well-tolerated and effective approach for the treatment ofelevated blood sugar levels that are characteristic of diabetes. The Companywill also present a poster during the meeting entitled, "MB06322, a PotentInhibitor of Gluconeogenesis, Attenuates Hyperglycemia without Causing WeightGain or Hypoglycemia in Female Zucker Diabetic Fatty Rats." Metabasis haslicensed CS-917 to Sankyo Co., Ltd. Sankyo is responsible for the globaldevelopment of the compound. Metabasis also announced an update on the review of CS-917 developmentthat began after two serious adverse events occurred in a drug-druginteraction study conducted in patients with diabetes that combinedadministration of CS-917 with metformin. Metabasis and Sankyo, together andseparately, have carefully reviewed the CS-917 development program. Theseefforts have included a thorough review of the safety and efficacy resultsfrom all studies completed with CS-917 and have involved discussions withmedical, clinical and regulatory experts. While the review at both companiesis continuing, Metabasis and Sankyo have concluded that CS-917 remains aninteresting and potentially important new approach for the treatment ofdiabetes and that further development should resume. Sankyo is responsiblefor conducting the development of CS-917. Decisions regarding the future ofthe product including details and timing of the future development program arestill being discussed and are subject to final approval of Sankyo management.Metabasis expects to provide a further update on the development status ofCS-917 after Sankyo management makes its determinations. Paul Laikind, Chairman, CEO and President of Metabasis stated, "Theconclusion that further development of CS-917 is warranted is a welcome onewith which we fully agree after a careful review of all the availableinformation and discussion with experts. The presentations at the ADA meetingwill highlight the strong potential of this approach. We look forward tocontinuing our fruitful collaboration with Sankyo and to seeing thedevelopment program for CS-917 resume." About Metabasis (http://www.mbasis.com): Metabasis Therapeutics is a biopharmaceutical company focused on thediscovery, development and commercialization of novel small molecule drugsprincipally to treat metabolic diseases, cancer and certain other diseaseslinked to pathways in the liver. Metabasis has established a pipeline thatincludes clinical and preclinical product candidates targeting large marketswith significant unmet medical needs. Metabasis has developed severalproprietary technologies for use in discovering and optimizing drugs,including the NuMimetic and HepDirect technologies. Metabasis is continuingto identify and develop new product candidates using its proprietarytechnologies and expertise. Forward-Looking Statements: Statements in this press release that are not strictly historical innature constitute "forward-looking statements." Such statements include, butare not limited to, references to the efficacy, safety and potential furtherdevelopment of CS-917, as well as the potential and progress of the Company'sother clinical and preclinical compounds. Such forward-looking statementsinvolve known and unknown risks, uncertainties and other factors which maycause Metabasis' actual results to be materially different from historicalresults or from any results expressed or implied by such forward-lookingstatements. These factors include, but are not limited to, risks anduncertainties related to Metabasis' dependence on Sankyo and its otherlicensees and collaborators for the clinical development and registration ofits product candidates, among other things; the progress and timing ofclinical trials for Metabasis' product candidates; serious adverse sideeffects of, or serious adverse events related to, Metabasis' productcandidates or proprietary technologies; difficulties or delays in development,testing, obtaining regulatory approval, producing and marketing Metabasis'product candidates; the potential and progress of preclinical compounds andprograms; and other factors discussed in the "Risk Factors" section ofMetabasis' Annual Report on Form 10-Q for the quarter ended March 31, 2005.All forward-looking statements are qualified in their entirety by thiscautionary statement. Metabasis is providing this information as of this dateof this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information,future events or otherwise.
SOURCE Metabasis Therapeutics, Inc.Web Site: http://www.mbasis.com
