YMB YM Bio.'b'ser1

    YM BioSciences Agreement with CancerVax Approved by US Treasury

 

    MISSISSAUGA, July 15 /CNW/ - YM BioSciences Inc. (TSX:YM, AIM:YMBA), the

cancer drug development company with an advanced-stage portfolio, today

announced that the US Treasury Department has approved an agreement between YM

BioSciences and CancerVax Corporation (NASDAQ:CNVX) of San Diego, CA under

which CancerVax will develop two preclinical specific active

immunotherapeutics targeting HER1 and TGFa, formerly licensed to YM

BioSciences by the Center for Molecular Immunology (CIM) in Havana. YM is to

receive an undisclosed amount of milestone payments and will retain a royalty

interest in the two products.

    "The US Treasury approval is historic in that this is the first time that

a Cuban-originated biological product has been permitted to be licensed by a

US company," said David Allan, Chairman and CEO of YM BioSciences. "This

approval relates to two pre-clinical products that, prior to this agreement,

were licensed to YM by CIM, from which our Phase II drug TheraCIM hR3 also

originates."

    TheraCIM hR3, well advanced in clinical development, is a humanized

monoclonal antibody (MAb) targeting the Epidermal Growth Factor receptor

(EGFr). TheraCIM hR3 is licensed to Oncoscience AG for Europe and is currently

in a 47-patient rolling Phase I/II trial in paediatric glioma, a form of brain

cancer. Oncoscience has applied for Orphan status for TheraCIM in both

paediatric and adult glioma. Oncoscience is proposing to initiate several

additional studies for TheraCIM hR3, including a registration trial in adult

glioma that is anticipated to start in Q4, 2004 and a Phase II trial in

pancreatic cancer also anticipated to start in Q4, 2004. Results of a previous

Phase I/II trial for TheraCIM were published in the Journal of Clinical

Oncology on May 1, 2004.

 

    About YM BioSciences Inc.

    YM BioSciences Inc. is a cancer drug development company. Its lead drug,

tesmilifene, is a small molecule chemopotentiator (for taxanes and

anthracyclines) currently undergoing a pivotal Phase III trial in metastatic

breast cancer, which was initiated in Q1 2004. Tesmilifene has completed a

previous Phase III trial with positive results. In addition to tesmilifene,

the company is developing an EGFr humanized monoclonal antibody that has

completed Phase II trials and a GnRH anti-cancer vaccine that is in earlier

stage clinical trials.

 

    Except for historical information, this press release may contain 

forward-looking statements, which reflect the Company's current expectation

regarding future events. These forward-looking statements involve risk and

uncertainties, which may cause 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.

 

    For further information: Enquiries: James Smith, The Equicom Group Inc.,

Tel. (416) 815-0700 x 229, Email: jsmith(at)equicomgroup.com; YM BioSciences

Inc., Tel. (905) 629-9761, Fax (905) 629-4959, Email: ir(at)ymbiosciences.com

    (YM. YMBA)



END

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