MISSISSAUGA, ON, Nov. 11 /PRNewswire-FirstCall/ - YM BioSciences Inc. (NYSE Amex: YMI, TSX: YM), a life sciences product development company that identifies and advances a diverse portfolio of promising cancer-related products at various stages of development, today reported operational and financial results for the first quarter of fiscal 2010, ended September 30, 2009.
"During our first fiscal quarter, we continued to advance our lead drug nimotuzumab, which is being developed globally through a network of cooperative relationships. We enrolled the first patients in our YM-sponsored multinational, randomized, Phase II double-blind trial evaluating nimotuzumab in patients with brain metastases from non-small-cell lung cancer (NSCLC) and continued to enroll patients in our randomized Phase II trial of nimotuzumab in NSCLC patients ineligible for radical chemotherapy. The US Treasury Department cleared YM's subsidiary, YM BioSciences USA Inc., of any limitations in clinical trials in the US for nimotuzumab in cancer indications and we are proposing to add US centers to these trials and potentially other trials being conducted by our licensees if and when cleared by the FDA," said David Allan, Chairman and CEO of YM BioSciences.
Subsequent to the end of the quarter we announced our proposal to merge Cytopia Ltd., an Australian clinical-stage drug development company, into YM. We believe Cytopia's lead products hold significant unrecognized potential and will benefit from YM's clinical and regulatory expertise and our access to the US capital markets," added Mr. Allan. Cytopia's lead products are CYT997, a novel, orally-available vascular disrupting agent (VDA) currently in Phase II trials, and CYT387, a novel, orally-active JAK1/2 inhibitor that recently received clearance from the FDA to commence a Phase I trial in myeloproliferative disorders which is planned to be initiated at Mayo Clinic in this current quarter. The meeting of Cytopi
|SOURCE YM BioSciences Inc.|
Copyright©2009 PR Newswire.
All rights reserved