YM BioSciences' subsidiary resolves proposed arbitration

 
TIDMYMB 
 
YM BioSciences' subsidiary resolved proposed arbitration with Oncoscience AG 
 
    MISSISSAUGA, ON, June 29 /CNW/ - YM BioSciences Inc. (NYSE Amex:YMI, 
TSX:YM, AIM:YMBA), a life sciences product development company that identifies 
and advances a diverse portfolio of promising cancer-related products at 
various stages of development, today reported that YM's subsidiary, CIMYM 
BioSciences Inc. and Oncoscience AG have resolved the issues between the 
companies in a cooperative effort. CIMYM BioSciences has formally notified 
Oncoscience that it no longer intends to submit its application to the London 
Court of International Arbitration for resolution of the matters previously in 
dispute. 
    "We are pleased that CIMYM BioSciences and Oncoscience have resolved 
their differences amicably at a minimal cost to either party and that each are 
committed to cooperate fully in moving nimotuzumab forward clinically with all 
due deliberate speed," said David Allan, Chairman and CEO of YM BioSciences. 
"The late-stage European clinical program Oncoscience is undertaking 
contributes significantly to the broad program being advanced by the network 
of cooperative relationships dedicated to the development of this important 
cancer drug globally." 
    "Its unique safety profile and efficacy make nimotuzumab a very promising 
and innovative treatment option with the potential to maintain a high quality 
of life for patients suffering from a number of different cancer indications," 
added Ferdinand Bach, CEO of Oncoscience. "I am delighted that we may now 
focus our combined resources exclusively on the contribution to the clinical 
program being undertaken globally for this promising drug. Recruitment of our 
Phase III trial in newly diagnosed pediatric pontine glioma has been concluded 
and we anticipate that recruitment in our randomised Phase III trial in adult 
glioblastoma grade IV will be completed in 2009. We are confident that data 
from these trials, along with data that will come from our placebo controlled 
randomised pancreatic cancer trial currently underway, in addition to data 
from a well diversified clinical development program being advanced 
internationally, will further strengthen and confirm the clinical value of 
nimotuzumab." 
 
    About YM BioSciences 
 
    YM BioSciences Inc. is a life sciences product development company that 
identifies and advances a diverse portfolio of promising cancer-related 
products at various stages of development. The Company is currently developing 
two late-stage products: nimotuzumab, an EGFR-targeting Affinity-Optimized 
Antibody(TM), and AeroLEF(R), a proprietary, inhaled-delivery composition of 
free and liposome-encapsulated fentanyl. YM has proven regulatory and clinical 
trial expertise and a diversified business model designed to reduce risk while 
advancing clinical products toward international approval, marketing and 
commercialization. 
    Nimotuzumab is a humanized monoclonal antibody in development worldwide, 
targeting multiple tumor types primarily in combination with radiation and 
chemoradiation. It is significantly differentiated from all other currently 
marketed EGFR-targeting agents due to its remarkably benign side-effect 
profile. Nimotuzumab's anti-tumor activity has led to its approval for 
marketing in 18 countries. In more than 4000 patients reported as having been 
treated with nimotuzumab worldwide to date, no Grade IV incidents of radiation 
dermatitis have been described, severe rash has not been observed and reports 
of the other severe side-effects that are typical of EGFR-targeting molecules 
have been rare. Nimotuzumab is licensed to YM's majority-owned subsidiary, 
CIMYM BioSciences Inc., by CIMAB S.A., and was developed at the Center of 
Molecular Immunology. YM is developing AeroLEF for the treatment of moderate 
to severe acute pain. The product is differentiated from other approaches 
using fentanyl because patients can individually control the analgesia 
required for their differing intensities of pain. AeroLEF met all endpoints in 
a randomized Phase II trial and is currently being prepared for late-stage 
development internationally. 
 
    About Oncoscience AG 
 
    Oncoscience is a private company based in Wedel, Germany founded with the 
goal developing treatments for rare diseases that are not being addressed by 
major pharmaindustrial companies. Oncoscience's mission and therefore the 
scientific benefit, lies in the research of rare diseases and the improvement 
of therapeutic possibilities. 
    Oncoscience's development program for cancer patients consist of its lead 
drug candidate nimotuzumab and a fusion protein that is entering the clinic 
this year to undergo Phase I trials. In the translational field, a first 
patent was granted from the Australian government at the end of 2008. 
 
    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(R) 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: James Smith, the Equicom Group Inc., Tel. (416) 
815-0700 x 229, Email: jsmith(at)equicomgroup.com; Thomas Fechtner, the Trout 
Group LLC, Tel. [phone], Email: tfechtner(at)troutgroup.com; Nominated 
Adviser, Canaccord Adams Limited, Ryan Gaffney, Tel. [phone] 
(YM. YMI YMBA) 
 
 
 
 
 
 
 
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