YM BioSciences Inc. (YMI)

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Ym Biosciences Announces Offer for Cytopia Ltd., an Australian Cancer-Focused Development Company
Press Release
Source: YM BioSciences Inc.
On Monday October 5, 2009, 6:29 pm EDT
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Companies:YM BioSciences Inc.
MISSISSAUGA, ON, Oct. 5 /PRNewswire-FirstCall/ - 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 announced it has proposed to merge Cytopia Ltd., a clinical-stage, Melbourne-based drug development company, into YM. Cytopia's lead products are CYT997, a novel vascular disrupting agent (VDA) currently in Phase II trials, and CYT387, a novel, orally-active JAK2 inhibitor that recently received clearance from the FDA to commence a Phase I trial in myeloproliferative disorders.

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{"s" : "ymi","k" : "c10,l10,p20,t10","o" : "","j" : ""} "After assessing numerous global in-licensing opportunities, we determined that Cytopia's products were an ideal complement to our current portfolio," said David Allan, Chairman and CEO of YM BioSciences. "While the continued development of our lead product nimotuzumab remains our highest priority, we believe the timing is appropriate to expand our pipeline, consistent with our business model, leveraging our existing resources and expertise to select from the opportunities offered to us in order to continue to enhance the value of YM."

Entire article can be read here:

http://finance.yahoo.com/news/Ym-Biosciences-Announces-prnews-3055181183.html?x=0&.v=2