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YM BioSciences third quarter 2010 operational and financial results

MISSISSAUGA, ON, May 13 /PRNewswire-FirstCall/ - YM BioSciences Inc. (NYSE YMI, TSX:YM), today reported operational and financial results for the third quarter of fiscal 2010, ended March 31, 2010.

"During the third quarter, we completed the merging into YM of Cytopia Limited, now YM BioSciences Australia, expanding our pipeline through the addition of two promising new drug candidates in drug classes that have been established as being of high interest and value to the pharmaceutical industry," said David Allan, Chairman and CEO of YM BioSciences. "With a strengthened balance sheet from our recent financing and a portfolio of four late-stage products, the quality and prospects for our drug portfolio are unmatched in YM's history as a company. This quarter we gathered momentum in for our clinical programs with an expansion of our Phase I/II clinical trial for CYT387 as well as the acceptance and presentation of our data at several international forums. We look forward to numerous clinical and corporate events during the balance of 2010."

Highlights for the third quarter of Fiscal 2010:

    -   Merged Cytopia (now YM BioSciences Australia), a clinical-stage, drug
        development company based in Melbourne, Australia, into YM.

    -   Cleared by the US FDA to enroll patients at US clinical sites into
        two ongoing randomized, double-blind Phase II trials of our lead
        product, nimotuzumab.

    -   Expanded the current Phase I/II clinical trial in myelofibrosis
        through an earlier-than-planned initiation of the Phase II component
        of the study for CYT387, the company's highly selective and potent
        JAK1/2 inhibitor.

    -   Had two posters accepted for presentation at the American Association
        for Cancer Resear
SOURCE YM BioSciences Inc.
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