NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

    YM BIOSCIENCES NOTICE OF ANNUAL MEETING OF SHAREHOLDERS AND NOMINATION OF

DIRECTORS

 

     MISSISSAUGA, ON, Oct. 11 /CNW/ - YM BioSciences Inc. (AMEX:YMI, TSX:YM,

AIM:YMBA), an oncology company that identifies, develops and commercializes

differentiated products for patients worldwide, today advised that its Annual

Meeting of Shareholders will take place on November 28th, 2007 at 4:00pm at

the Gallery of the TSX Broadcast & Conference Centre, The Exchange Tower, 130

King Street West, Toronto, Ontario.

     The items for consideration at the meeting are included in the Proxy

Circular which will be mailed to shareholders of record on or about

October 22, 2007. Two new directors have been nominated and have agreed to

stand for election at the Annual Meeting: Philip Frost, M.D., Ph.D. and

Francois Thomas, M.D.

     Dr. Philip Frost is currently the President of Calesca Pharmaceuticals.

In 2005, Dr. Frost was appointed Executive Vice President and Chief Scientific

Officer at ImClone Systems Inc. where he oversaw the company's research,

clinical and regulatory departments. He subsequently held the post of Interim

Chief Executive Officer until December 2006. Prior to ImClone Systems, Dr.

Frost served as Vice President of Oncology and Co-Director of the Oncology

Therapeutic Area Leadership Team at Wyeth, where he was responsible for the

development of various oncology compounds and contributed to the approval and

commercialization of Mylotarg(R) for the treatment of a specific form of acute

myeloid leukemia. Dr. Frost has held the positions of Adjunct Professor of

Cell Biology and Adjunct Professor of Medicine at The University of Texas M.

D. Anderson Cancer Center since 1992. He is also a Director of Innovive

Pharmaceuticals, a New York-based oncology company.

     Dr. Francois Thomas, a board certified medical oncologist, is a member of

the Board of Directors of Unibioscreen, Eurogentec and DNA therapeutics, and

formerly was a Director of Newron, Entomed, Neurotech, Novexel and CropDesign.

Dr. Thomas is currently a Senior Advisor at Bryan Garnier, a Paris-based

investment bank, and is responsible for corporate finance activities for

pharmaceutical and biotechnology companies. Dr. Thomas has been a Venture

Partner at Atlas Venture (London, UK), and a General Manager at Bioserve Ltd

(Cambridge, UK), a consultancy for the life science arena. He was previously

Vice President Licensing, Medical Affairs and Pharmacogenomics at Genset

(Paris, France), Vice President, Clinical Development at Ipsen (Paris, France)

and Assistant Professor of Medical Oncology at Institut Gustave Roussy (Paris,

France).

     Four of the current directors, Dr. James Barrett, Mr. John Friedman, Ms.

Gail Schulze and Dr. Julius Vida, will not be standing for re-election. The

Board of Directors will be reduced from ten to eight members.

 

     About YM BioSciences

 

     YM BioSciences Inc. is an oncology company that identifies, develops and

commercializes differentiated products for patients worldwide. The Company has

two late-stage products: nimotuzumab, a humanized monoclonal antibody that

targets the epidermal growth factor receptor (EGFR) and is approved in several

countries for treatment of various types of head and neck cancer; and

AeroLEF(TM), a proprietary, inhaled-delivery composition of free and

liposome-encapsulated fentanyl in development for the treatment of moderate to

severe pain, including cancer pain.

 

     This press release may contain forward-looking statements, which reflect

the Company's current expectation regarding future events. These

forward-looking statements involve risks and uncertainties that may cause

actual results, events or developments to be materially different from any

future results, events or developments expressed or implied by such

forward-looking statements. Such factors include, but are not limited to,

changing market conditions, the successful and timely completion of clinical

studies, the establishment of corporate alliances, the impact of competitive

products and pricing, new product development, uncertainties related to the

regulatory approval process and other risks detailed from time to time in the

Company's ongoing quarterly and annual reporting. Certain of the assumptions

made in preparing forward-looking statements include but are not limited to

the following: that nimotuzumab will continue to demonstrate a competitive

safety profile in ongoing and future clinical trials; that AeroLEF(TM) will

continue to generate positive efficacy and safety data in future clinical

trials; and that YM and its various partners will complete their respective

clinical trials within the timelines communicated in this release. We

undertake no obligation to publicly update or revise any forward-looking

statements, whether as a result of new information, future events or

otherwise.

 

 

For further information: Enquiries: Thomas Fechtner, the Trout Group LLC,

Tel. [phone] x31, Fax [phone], Email:

tfechtner(at)troutgroup.com; James Smith, the Equicom Group Inc., Tel. (416)

815-0700 x 229, Fax [phone], Email: jsmith(at)equicomgroup.com;

Nominated Advisor, Canaccord Adams Ltd., Ryan Gaffney, Tel. [phone]

6500

(YM. YMI YMBA)



END