MISSISSAUGA, ON, Nov. 20, 2012 /PRNewswire/ - YM BioSciences Inc. (NYSE MKT: YMI, TSX: YM), a drug development company advancing hematology and cancer related
products, today announced that Kapil Dhingra has been elected by shareholders to
the Company's Board of Directors at YM's Annual Meeting of Shareholders
held this afternoon.
Dr. Dhingra has 25 years of experience in oncology clinical research and
drug development. Previously, Dr. Dhingra held the position of Vice
President, Head, Oncology Disease Biology Leadership Team at Roche,
playing a key role in the expansion of Roche oncology. He is currently
the Managing Member of KAPital Consulting, a healthcare consulting firm
he founded in June 2008 dedicated to assisting biotechnology,
pharmaceutical and diagnostic companies realize the full potential of
scientific, clinical and commercial advances in oncology. He serves on
the Board of Directors of a number of companies, including Exosome
Diagnostics and Algeta. Throughout his industry career, Dr. Dhingra
maintained an active faculty appointment, initially at Indiana
University School of Medicine from 1997 to 1999 as Clinical Associate
Professor and more recently at Memorial Sloan Kettering Cancer Center
in New York from 2000 to 2008. Dr. Dhingra received his medical
training at the All India Institute of Medical Sciences, New Delhi,
"As we advance our lead drug CYT387 to the next phase in its
development, it is important to continue to strengthen our board with
the experience and expertise that Dr. Dhingra brings," said Mr. David
Allan, Chairman of YM BioSciences. "We would also like to thank Dr.
Philip Frost and Dr. François Thomas for their long and valuable
participation on the Board of Directors."
An audio archive of the AGM proceedings is available on the Company's
website at www.ymbiosciences.com.
About YM BioSciences
YM BioSciences Inc. is a drug development company primarily focused on
advancing CYT387, an orally administered inhibitor of both the JAK1 and
JAK2 kinases, which have been implicated in a number of hematological
and immune cell disorders including myeloproliferative neoplasms and
inflammatory diseases as well as certain cancers. Positive interim
results have been reported from a Phase I/II trial of CYT387 in 166
patients with myelofibrosis. YM's portfolio also includes nimotuzumab,
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. In addition, YM has several preclinical programs underway
with candidates from its 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
and nimotuzumab will generate positive efficacy and safety data in
ongoing and future clinical trials, and that YM as well as CIMYM's
various licensees 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.