YMB YM Bio.'b'ser1

    YM Biosciences partners with TTY Biopharm to develop Tesmilifene in Taiwan

    - YM and TTY will Initially Study Tesmilifene in Patients
    with Hepatic Cancer -

    MISSISSAUGA, ON, Dec. 21 /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
partnered with TTY Biopharm Ltd. of Taipei, Taiwan to expand the development
program for its lead drug, tesmilifene, into hepatic cancer.
    "This agreement continues and affirms our strategy to expand
tesmilifene's market potential geographically and seeks to demonstrate its
benefit in additional cancer indications beyond metastatic breast,
hormone-refractory prostate and gastric cancer," said David Allan, Chairman
and CEO of YM BioSciences. "Unfortunately, the incidence rate of hepatic
cancer in the Taiwanese population is high. A clinical study evaluating
tesmilifene in this patient population may prove very useful in Taiwan and
potentially other Asian populations."
    YM and TTY will form a Joint Development Team to design a clinical trial
in this initial indication and to oversee the development of tesmilifene in
additional indications. TTY will fully fund development costs and provide an
undisclosed amount of up-front, milestone and royalty payments. In addition,
TTY has agreed to conduct a bridging study in the local population in 2007 to
support approval in Taiwan for the treatment of metastatic breast cancer,
should the current pivotal study being conducted by YM be successful in this
indication.

    About Hepatic Cancer

    More than half a million new cases of primary liver cancer
(hepatocellular carcinoma or HCC) are diagnosed worldwide each year, making it
the fifth most common cancer and the third major cause of mortality due to
cancer worldwide. The most common cause of HCC is progression of liver
cirrhosis brought about by chronic infections such as HBV, HCV and other
variant hepatitis infections. HCC is one of the most frequently occurring
malignancies in Asia and was the leading cause of cancer related deaths in
Taiwan in 2002. Due to late disease diagnosis only 10% to 20% of patients are
eligible for surgery. This results in poor survival statistics; inoperable HCC
can prove fatal within three to six months.

    About TTY Biopharm

    TTY BioPharm, established in 1960, is one of the leading pharmaceutical
companies in Taiwan and is listed on the Taiwan Stock Exchange (symbol: 4105).
Its headquarters are in Taipei, Taiwan and the company has offices in Beijing
China. TTY established an oncology business unit in 2000 and since then has
mainly focused in this area. TTY positions itself as anti-cancer house with
comprehensive product portfolio with specialized development expertise in
Asian-Pacific regions.

    About YM BioSciences

    YM BioSciences Inc. is an oncology company that identifies, develops and
commercializes differentiated products for patients worldwide. The Company has
three late-stage products: tesmilifene, a novel small molecule that
selectively targets multiple-drug resistant tumor cells and sensitizes them to
chemotherapy, currently under investigation for metastatic breast cancer and
gastric cancer; 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 is in clinical
trials in numerous tumor types including glioma (pediatric and adult),
pancreatic cancer, prostate cancer, non-small cell lung cancer, esophageal
cancer, cervical cancer and breast cancer; and AeroLEF(TM), a unique,
inhaled-delivery composition of free and liposome-encapsulated fentanyl in
development for the treatment of moderate to severe 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 the pivotal tesmilifene Phase III trial will be completed
on schedule and yield mature data in calendar 2007; that the DSMB's
recommendations to continue the pivotal trial for tesmilifene based on two
early analyses implies that the trial continues to have the prospect of
meeting its primary endpoint; that nimotuzumab will continue to demonstrate a
competitive safety profile in ongoing and future clinical trials; 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: Investor Relations U.S., Thomas Fechtner, The Trout
Group LLC, Tel. (212) 477-9007 x31, Fax (212) 460-9028, Email:
tfechtner(at)troutgroup.com; Investor Relations Canada, James Smith, the
Equicom Group Inc., Tel. (416) 815-0700 x 229, Fax (416) 815-0080, Email:
jsmith(at)equicomgroup.com; Media Enquiries, Mike Beyer, Sam Brown Inc., (773)
463-4211, beyer(at)sambrown.com
(YMBA)

 



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