MISSISSAUGA, ON, Sept. 29 /PRNewswire-FirstCall/ - YM BioSciences Inc. (NYSE Amex: YMI, TSX:YM), today reported that Pulmokine Inc. (Slingerlands, New York), a licensee of several small molecule compounds from YM, has been awarded two National Institutes of Health (NIH) Small Business Innovation Research (SBIR) grants. The grants, totaling more than US$650,000, are Phase I awards to develop novel treatments for Pulmonary Arterial Hypertension (PAH). These compounds, originating from YM BioSciences' small molecule library, have defined mechanisms of action and, based on preliminary experiments, are believed to inhibit key processes in PAH disease development and progression. YM will continue to have a role in the ongoing development of the compounds.
"PAH is associated with a high morbidity and mortality and the therapies now available have little effect on disease progression," said Dr. Lawrence Zisman, CEO and CSO of Pulmokine. "The opportunities for the compounds licensed from YM are significant if they continue to demonstrate the potential to offer new options for patients with this debilitating disease." Dr. Zisman will be presenting preliminary data from these studies at the forthcoming American Heart Association meeting on Monday, November 15, 2010.
"YM BioSciences has built a library of approximately 4,000 novel small molecules, largely targeting protein tyrosine kinases. This library has already provided our clinical stage products CYT387 and CYT997, and we have identified a variety of additional compounds with significant development potential," said Dr. Nick Glover, President and COO of YM BioSciences. "The collaboration with Pulmokine enables us to continue to leverage this library through risk-sharing collaborations. We have already entered into a similar relationship with Australian-based Cancer Therapeutics Ltd. to develop novel cancer drugs targeting the FAK enzyme. We will continue to explore further collaborations of a similar natur
|SOURCE YM BioSciences Inc.|
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