- Company announces Annual and Special Meeting of Shareholders and
appoints new head of Strategic Alliances -
MISSISAUGA, ON, Oct. 19, 2011 /PRNewswire/ - YM BioSciences Inc. (NYSE Amex: YMI) (TSX: YM) today announced that Catherine Mackey, Ph. D., former Senior Vice
President of Worldwide Research and Development for Pfizer Inc., and
Nicole Onetto, M.D., Deputy Director of the Ontario Institute for
Cancer Research (OICR), have been proposed for nomination to the
Company's Board of Directors. The election will be held during YM's
Annual and Special Meeting of Shareholders scheduled for November 22,
2011, at 4:00pm.
"Strengthening our Board with the vast experience both Dr. Onetto and
Dr. Mackey bring will be the achievement of an important corporate
goal," said Mr. David Allan, Chairman of YM BioSciences. "As we prepare
to advance CYT387 into registration trials, their expertise will be
valuable in helping YM attain its strategic and scientific objectives."
Dr. Mackey has more than 28 years of experience in the life science
industry and is currently the founder of MindPiece Partners, a
management consulting firm created in 2010 focused on the life sciences
industry. From 2001 to 2010, she was the Senior Vice President of
Worldwide Research and Development for Pfizer Inc., a world-leading
biopharmaceutical company. She was also a member of DEKALB Genetics
Corporation's executive team that sold the company to Monsanto Company
in 1998. Dr. Mackey serves on numerous Boards of Directors including
Althea Technologies Inc., Genelux Corporation, BIOCOM, CONNECT, Rady
Children's Hospital, and Project Concern International. She earned her
Ph.D. degree in microbiology from Cornell University in 1983.
Dr. Nicole Onetto, a medical doctor, scientist and oncologist, has more
than 27 years of experience in healthcare and the life sciences
industries, focused primarily on the successful development of cancer
drugs, including Taxol® and Tarceva. Dr. Onetto is currently Deputy
Director of the Ontario Institute for Cancer Research. She most
recently served as Chief Medical Officer of Zymogenetics, Inc. from
September 2005 to May 2009, as Executive Vice President and Chief
Medical Officer at OSI Pharmaceuticals, Inc. from 2003 to 2005, as
Executive Vice President of OSI Pharmaceutical's Oncology Division from
2002 to 2003, and as Senior Vice President, Medical Affairs, at Gilead
Sciences, Inc. from 2000 to 2001. Dr. Onetto has a Doctor of Medicine
degree with a specialization in pediatrics and hematology from the
University of Paris V, France and a M.Sc. in Pharmacology from
University of Montreal. She currently serves on the Board of Directors
for ImmunoGen, Inc. (IMGN), a public U.S. company developing anticancer
therapeutics, and TORCell Therapeutics, Inc., a private Canadian
company.
The Board of Directors of YM has been advised by Dr. Gilbert Wenzel that
he will not stand for re-election at the Meeting.
The Company has recently structured a Department of Strategic Alliances,
headed by Dr. David Kennard. This team is responsible for managing and
supporting existing YM alliances, including those related to CIMYM and
its nimotuzumab program, as well as continuing to seek new drug
development relationships and in-licensing opportunities. With this new
management structure, YM has eliminated the role of President and COO
of the CIMYM program, which was previously held by Dr. Vince Salvatori.
Dr. Salvatori will continue to consult to YM on nimotuzumab-related
activities.
"We wish to thank both Dr. Wenzel and Dr. Salvatori for their many years
of service and dedication to YM," added Mr. Allan.
Notice of Meeting:
YM's Annual and Special Meeting of Shareholders will be held on November
22, 2011, at 4:00 p.m. ET at the offices of Norton Rose OR LLP,
Boardrooms A & B, 38th Floor, 200 Bay Street, Royal Bank Plaza South Tower, Toronto, Ontario.
The management proxy circular documents and annual financial documents
will be mailed to shareholders on October 28th, 2011, and will be
available online at www.ymbiosciences.com, www.edgar.com and www.sedar.com.
About YM BioSciences
YM BioSciences Inc. is a drug development company advancing three
clinical-stage products: CYT387, a small molecule, dual inhibitor of
the JAK1/JAK2 kinases; nimotuzumab, an EGFR-targeting monoclonal
antibody; and CYT997, a vascular disrupting agent (VDA).
CYT387 is an orally administered inhibitor of both the JAK1 and JAK2
kinases, which have been implicated in a number of immune cell
disorders including myeloproliferative neoplasms and inflammatory
diseases as well as certain cancers. CYT387 is currently in a 166
patient Phase I/II trial in myelofibrosis that has completed
enrollment, as well as a 60 patient Phase II BID trial that is
recruiting patients. Nimotuzumab is a humanized monoclonal antibody
targeting EGFR with an enhanced side-effect profile over currently
marketed EGFR-targeting antibodies. Nimotuzumab is being evaluated in
numerous Phase II and III trials worldwide. CYT997 is an
orally-available small molecule therapeutic with dual mechanisms of
vascular disruption and cytotoxicity, and has completed a Phase II
trial in glioblastoma multiforme. In addition to YM's three clinical
stage products, the Company has a library of novel compounds identified
through internal research conducted at YM BioSciences Australia.
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 CYT387,
nimotuzumab and CYT997 will generate positive efficacy and safety data
in ongoing and future clinical trials, and that YM and its various
partners will complete their respective clinical trials and disclose
data within the timelines communicated in this release. 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.