Shareholding In Company

    News release via Canada NewsWire, Toronto 416-863-9350

Attention Business Editors:

YM BIOSCIENCES SHAREHOLDING IN COMPANY

MISSISSAUGA, ON, Jan. 18 /CNW/ - YM BioSciences Inc. (AMEX:YMI, TSX:YM,

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

differentiated products for patients worldwide, today announced that it has

been notified that Accipiter Life Sciences Fund, LP and affiliated funds now

hold 3,497,795 Common Shares in the Company.

>

The holding of 3,497,795 Common Shares represents 6.3% of the current

total issued share capital of the Company, being 58,216,309 Common shares.

This press release is being issued in order to comply with Rule 26 of the

AIM Rules for Companies.

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.

-0- 01/18/2008 

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

Tel. [phone], Email: tfechtner(at)troutgroup.com; James Smith, the

Equicom Group Inc., Tel. [phone] x 229, Email:

jsmith(at)equicomgroup.com; Nominated Adviser, Canaccord Adams Limited, Ryan

Gaffney, Tel. [phone]/

(YM. YMI YMBA)



END