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YM BIOSCIENCES REPORTS FIRST QUARTER 2008 OPERATIONAL AND FINANCIAL RESULTS
Date:11/11/2007

MISSISSAUGA, ON, Nov. 12 /PRNewswire-FirstCall/ - YM BioSciences Inc. (AMEX:YMI, TSX:YM, AIM:YMBA), an oncology company that identifies, develops and commercializes differentiated products for patients worldwide, today reported operational and financial results for the first quarter of fiscal 2008, ended September 30, 2007.

"We launched into our 2008 fiscal year by further increasing the level of clinical activity for our lead drug, nimotuzumab," said David Allan, Chairman and CEO of YM BioSciences. "In July 2007, we initiated patient enrollment for our colorectal cancer trial - the first trial using nimotuzumab with chemotherapy in a bulky tumor. Data from this trial could provide important evidence supporting the observations to date that nimotuzumab can deliver efficacy without the debilitating side effects common to other EGFR-targeting drugs. In August 2007, YM-USA received clearance from the FDA to initiate a 44-patient clinical trial in children with diffuse, intrinsic pontine glioma (DIPG), an inoperable progressive brain cancer."

"More recently our licensee in Europe, Oncoscience AG, recruited its first patients into a randomized Phase III trial in first line adult glioblastoma grade IV and a Phase IIb/IIIa randomized, placebo controlled trial in patients with advanced pancreatic cancer for which YM has received clearance to extend into Canada. Moreover, Daiichi-Sankyo, our licensee in Japan, has advised us that it has completed its preliminary trials with nimotuzumab, permitting it to advance into more advanced trials in 2008," added Mr. Allan. "We also continued to progress the development of AeroLEF(TM) and the FDA have scheduled an end-of-Phase II meeting to discuss the Phase III trial design.
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SOURCE YM BioSciences Inc.
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