MISSISSAUGA, ON,
Dec. 13 /PRNewswire-FirstCall/ -
YM BioSciences Inc. (NYSE Amex: YMI; TSX: YM), 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 that it intends to offer and
sell shares of its common shares in an underwritten public
offering.
Roth Capital Partners, LLC is acting as the sole
book-running manager for the offering and as the representative of
the several underwriters, which is expected to include JMP
Securities LLC. Bloom Burton & Co. is acting as financial
advisor to YM BioSciences on the transaction. The securities
described above are being offered in the
United States by the Company pursuant to a registration
statement filed with the Securities and Exchange Commission (SEC),
which became effective on December 1,
2010.
A preliminary prospectus supplement relating to the
offering will be filed with the SEC and will be available on the
SEC's website located at www.sec.gov. When available, copies of the
preliminary prospectus supplement, the final prospectus supplement
and accompanying base prospectus relating to this offering can be
obtained at the SEC's website at http://www.sec.gov. Interested
parties may also contact Roth Capital Partners by e-mail to
rothecm@roth.com, by fax to (949) 720-7227, or by mail to 24
Corporate Plaza Drive, Newport Beach,
CA, 92660, Attention: Equity Capital Markets.
The offering is subject to market conditions and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering. The
offering is expected to price before 9:30 am
EST on Tuesday, December 14,
2010.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such jurisdiction.
About YM BioSciences
YM BioSciences Inc. is a drug development company
advancing three clinical-stage products: CYT387, a small molecule,
dual inhibitor of JAK1/JAK2 kinase; nimotuzumab, an EGFR-targeting
monoclonal antibody; and CYT997, a potent vascular disrupting agent
(VDA).
CYT387 is an orally administered inhibitor of both
the JAK1 and JAK2 kinase enzymes, which have been implicated in a
number of immune cell disorders including myeloproliferative
disorders and inflammatory diseases as well as certain cancers.
CYT387 is currently in a Phase I/II trial in myelofibrosis.
Nimotuzumab is a humanized monoclonal antibody targeting EGFR with
an enhanced side effect profile. Nimotuzumab is being evaluated in
numerous Phase II and III trials worldwide by YM's licensees.
CYT997 is an orally-available small molecule therapeutic with dual
mechanisms of vascular disruption and cytotoxicity, and is
currently in a Phase II trial for glioblastoma multiforme. In
addition to YM's three clinical stage products, the Company has a
library of more than 4,000 novel compounds identified through
internal research conducted at YM BioSciences Australia which are
currently being evaluated.
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 or the
ability to obtain drug product in sufficient quantity or at
standards acceptable to health regulatory authorities to complete
clinical trials or to meet commercial demand; 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 our JAK1/JAK2 inhibitor CYT387 and our VDA small molecule
CYT997 will generate positive efficacy and safety data in future
clinical trials; that YM and its various partners will complete
their respective clinical trials within the timelines communicated
in this release. This offering is subject to market conditions and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
Except as required by applicable securities laws, we undertake
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
SOURCE YM BioSciences Inc.
Copyright . 13 PR Newswire