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YM BioSciences Reports Fiscal Second Quarter 2011 Operational and Financial Results
Date:2/10/2011

MISSISSAUGA, ON, Feb. 10 /PRNewswire-FirstCall/ - YM BioSciences Inc. (NYSE Amex: YMI, TSX: YM), a life sciences product development company advancing a diverse portfolio of promising hematology and cancer-related products at various stages of development, today reported operational and financial results for the second quarter of fiscal 2011, ended December 31, 2010.

"At the American Society of Hematology Annual Meeting in December 2010, we presented interim data from the Phase I/II trial of our JAK inhibitor, CYT387, in myelofibrosis. In addition to demonstrating positive efficacy signals in the approvable endpoints in this indication, splenomegaly and symptomatic improvement, CYT387 also exhibited a promising ability to positively impact anemia, a major life-shortening symptom associated with myelofibrosis. We now look forward to updated data from the full 140 patient clinical trial in calendar mid-2011 to further quantify these outcomes, including the durability of this compelling anemia response," said Dr. Nick Glover, President and CEO of YM BioSciences. "We are encouraged by these data and accordingly are also reviewing development opportunities for the compound in other indications where the properties of our drug might benefit patients. During the quarter we raised net proceeds before expenses of $43.3 million, underscoring the shared desire our investors have for supporting the timely development this asset."

Highlights from the second quarter:

CYT387:

- Mayo Clinic announced positive interim data from the first 60 patients enrolled in the Phase I/II trial for CYT387 in myelofibrosis. The results were reported in an oral presentation at the 52nd American Society of Hematology (ASH) Annual Meeting. - The Overall Response Rate (spleen, anemia), as per the International Working Group for Myeloproliferative Neoplasms Research and Treatment (IWG-MRT) criteria, was 62%. - Of the 53 evaluable subjects who had splenomegaly at baselin
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SOURCE YM BioSciences Inc.
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