Metabolex Closes $8.6 Million Financing Round

Funds to Continue Advancement of Four Clinical Stage Candidates

HAYWARD, Calif., Nov. 5 /PRNewswire/ -- Metabolex, Inc., a biopharmaceutical
company focused on the discovery and development of proprietary new medicines
for the treatment of metabolic diseases, today announced it had closed an
additional $8.6 million in financing. Participating investors in this insider
financing include: Alta Partners, Venrock, Versant Ventures, Bay City
Capital, VantagePoint Venture Partners, Novo Ventures, Pictet, Next Chapter
Holdings, Charter Ventures, Merlin Biomed, and Birchmere Ventures.

The company plans to use the funds to continue to advance development of its
four clinical-stage candidates, including a Phase 2 study for MBX-2982.
MBX-2982 is a potential first-in-class treatment for type 2 diabetes that
targets G protein-coupled receptor 119 (GPR119), a receptor that interacts
with bioactive lipids known to stimulate glucose-dependent insulin secretion.
The company has completed three Phase 1 trials and has generated promising
data for this potential first-in-class therapy.

"We are pleased by the continued consistent support Metabolex has received
from our investors," said President and CEO, Harold Van Wart, Ph.D. "These
funds will enable us to continue to advance our product portfolio including
the development of MBX-2982, a potential new therapy for treating type 2
diabetes."

About Diabetes

Diabetes is a worldwide health problem and a rapidly growing source of
illness, death and health care costs. According to the International Diabetes
Federation, approximately 246 million adults, or 6 percent of the world's
adult population, had diabetes in 2007. The American Diabetes Association
(ADA) estimates that there were approximately 23.5 million adults in the
United States with diabetes in 2007, making up 10.7 percent of the adult
population. According to estimates from the ADA, one in ten health care
dollars is attributed to diabetes. Type 2 diabetes accounts for 90 to 95
percent of diabetic cases.

About Metabolex

Metabolex is a privately-held biopharmaceutical company focused on the
discovery and development of proprietary new medicines for the treatment of
metabolic diseases, with an emphasis on type 2 diabetes. The company has four
clinical-stage compounds: MBX-102/JNJ 39659100, which has completed three
Phase 2 trials; MBX-2044, which has completed a Phase 2a trial; MBX-8025,
which recently completed a Phase 2 trial in patients with dyslipidemia; and
MBX-2982, which recently completed its third Phase 1 trial. Ortho-McNeil, Inc.
has the exclusive right to develop and commercialize MBX-102/JNJ 39659100.

For additional information about Metabolex and its development pipeline, visit
www.metabolex.com.

SOURCE Metabolex, Inc.

Donald Hill of Metabolex, Inc., +1-510-293-8800, dhill@metabolex.com