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YM BioSciences Announces Milestone Payment For Approval Of Nimotuzumab In The Philippines And Indonesia
Date:12/12/2008

ty reported in almost half the patients treated with other EGFR-targeting antibody drugs in combination with radiation while absent in nimotuzumab/radiation treated patients. Reports of any severe incidents of the other side-effects that are typical of EGFR-targeting molecules have been rare. These severe side-effects can result in treatment interruptions, one of the leading causes of treatment failure and, unlike cetuximab, nimotuzumab patients do not have to be pre-medicated to prevent infusion reactions.

Nimotuzumab is being developed to compete as best-in-class therapy against the currently marketed EGFR-targeting drugs. This drug has displayed efficacy in numerous tumour types (published and presented at major conferences including ASCO), having completed more than 27 clinical trials demonstrating anti-cancer activity that rivals the other EGFR-targeting antibody drugs.

Nimotuzumab is currently being advanced in several randomized Phase II and III trials in Japan, Europe and elsewhere and is undergoing a YM-sponsored confirmatory trial in pediatric glioma in Canada and the US.

NYSE Alternext US notice

The Company received an audit opinion for the fiscal year ended June 30, 2008 which included an explanatory paragraph referencing note 1 to the consolidated financial statements of the Company's fiscal 2008 annual report which discusses substantial doubt about the Company's ability to continue as a going concern as the Company has no net earnings, minimal revenue and negative operating cash flows. YM had net cash of more than CDN $52 million at September 30, 2008 which it believes is sufficient to continue its development activity well beyond the 2009 fiscal year. The disclosure in note 1 is consistent with YM's disclosure in previous financial reports and is intended to alert readers to the risks inherent to the industry in which it operates, which include the reliance on the capital markets and uncert
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SOURCE YM BioSciences Inc.
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