London, Oct. 6, 2009 (PR Newswire UK Disclose) -- 
YM BIOSCIENCES ANNOUNCES OFFER FOR CYTOPIA LTD., AN AUSTRALIAN CANCER-FOCUSED
DEVELOPMENT COMPANY
    MISSISSAUGA, ON, Oct. 5 /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 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.
    "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."
    Cytopia's lead product, CYT997, has demonstrated potent disruption of
existing tumor vasculature and therefore has the potential to synergize with
existing marketed anti-angiogenesis agents, such as Avastin(R), which only
target novel blood vessel formation. CYT997's availability in both oral and
intravenous formulations differentiates it from most other VDAs, including
those more advanced in clinical development, which are typically available in
intravenous form only. Phase I trial results from the intravenous formulation
of CYT997 were presented at ASCO in 2008 and results from the Phase I oral
study were presented at ASCO 2009 demonstrating that both formulations were
well-tolerated and showed preliminary signs of efficacy as determined by
measures of tumor vasculature disruption. In the intravenous study, 17 of 22
evaluable end-stage patients enrolled in the 31 patient trial achieved stable
disease over four cycles of therapy. In the oral study, CYT997 demonstrated
good absorption and linear dosing with 12 of 21 patients showing stable
disease over six weeks.
    "We believe that CYT997, with its dual mechanisms of vascular disruption
and cytotoxicity, has the potential to be broadly active against a range of
tumor types," said Andrew Macdonald, Chief Executive Officer of Cytopia. "It
acts similarly to other tubulin-binding agents, such as paclitaxel and
vincristine, by directly affecting tumor cell replication, but also by
shutting down the tumor vasculature, essentially starving the tumor cells. We
are very pleased that our two promising cancer drugs will progress their
clinical studies within a strong and capable organization."
    A Phase II study in highly-vascular tumor indications is ongoing in
Australia in patients with relapsed glioblastoma multiforme (GBM; glioma), an
aggressive form of brain tumor, with CYT997 being administered intravenously
in combination with carboplatin every three weeks. Patients are being
monitored for changes in their tumors as well as for progression-free
survival.