June 16, 2008

Metabasis to Present at the Jefferies 2nd Annual Healthcare Conference

Metabasis Therapeutics (Nasdaq: MBRX), announced today that Dr. Paul Laikind, president and chief executive officer, will present at the Jefferies 2nd Annual Healthcare Conference in New York, NY. Dr. Laikind is scheduled to present on Thursday, June 26 at 11:45 a.m. Eastern Time and is expected to provide an overview of the Company and its product candidates. The Company's presentation will be webcast.

To access the live broadcast and the subsequent archived recording and of the presentation, please log onto the Company's website at www.mbasis.com under the "Investors" section. The audio recordings will be archived there for 30 days following the live presentation. Please connect to Metabasis' website several minutes prior to the start of the presentation to ensure adequate time for any software download that may be necessary.

About Metabasis (www.mbasis.com):

Metabasis is a biopharmaceutical company using its proprietary technologies, scientific expertise and unique capabilities for targeting the liver and liver pathways. The Company has established a broad pipeline of product candidates and advanced research programs targeting large markets with significant unmet needs. Metabasis' core area of focus is on the discovery and development of drug candidates to treat metabolic diseases such as hyperlipidemia and diabetes, among others. Although not a core focus of the Company, Metabasis has also discovered and developed drug candidates indicated for the treatment of liver diseases such as hepatitis and primary liver cancer, which it now intends to license or partner. All product candidates were developed internally using proprietary technologies.