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Cytopia Merger with Toronto-based YM BioSciences Inc.
Date:10/5/2009

f pain. AeroLEF met all endpoints in a randomized Phase II trial and is currently being prepared for late-stage development internationally.

For further information please visit our website at: www.cytopia.com.au

For information on YM Biosciences, please visit their website at www.ymbiosciences.com

(i)The Implementation Agreement provides for Cytopia to use commercially reasonable endeavours to ensure that each holder of a Cytopia Option agrees to the cancellation of the Cytopia options held by that holder. Unless all holders of Cytopia Options agree to the cancellation of their options, Cytopia will be required to propound the Option Scheme.

(ii)This is based on a 20 day VWAP of Cytopia and YM on 25 September 2009 of A$0.1276 and C$1.8435 respectively using an $A/$Canadian exchange rate of 0.9469.

(iii)The Effective Date is the day upon which the Schemes become effective by lodgement of the Court order with ASIC

(iv)Cytopia is required to obtain the consent by or on behalf of the Commonwealth of Australia to its proposed change in control (as the grantee company) under two specific Grants.

SOURCE Cytopia Ltd.


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SOURCE Cytopia Ltd.
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