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Last updated on April 17, 2014 at 11:00 EDT

YM BioSciences Announces Proposed Public Offering of Common Shares

February 23, 2012

MISSISSAUGA, ON, Feb. 23, 2012 /PRNewswire/ – YM BioSciences Inc. (“YM” or the “Company”) (NYSE Amex: YMI; TSX: YM), a drug development company advancing a diverse portfolio of hematology
and cancer related products, today announced that it has commenced an
underwritten public offering (the “Offering”) of its common shares. In
connection with the Offering, the Company plans to grant to the
underwriters a 30-day option to purchase additional common shares.

BofA Merrill Lynch is acting as sole book-running manager for the
Offering. 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 securities described above are being offered by the Company in the
United States pursuant to a registration statement previously filed
with the Securities and Exchange Commission (the “SEC”), which the SEC
declared effective on July 15, 2011. A preliminary prospectus
supplement related to the Offering will be filed with the SEC and will
be available on the SEC’s website located at http://www.sec.gov. Copies
of the preliminary prospectus supplement and the accompanying base
prospectus relating to the Offering may be obtained from BofA Merrill
Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus
Department or by e-mail at dg.prospectus_requests@baml.com.

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 state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.

The Offering of the common shares under the prospectus supplement will
not be made to persons in Canada.  The prospectus supplement and
accompanying base prospectus contain detailed information about the
common shares being offered.  Investors should read the prospectus
supplement and accompanying base shelf prospectus before making an
investment decision.

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).

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 safety and efficacy data
in ongoing and future clinical trials and that YM Biosciences and its
various licensees will complete their respective clinical trials within
the timelines communicated in the Company’s quarterly and annual
reports. 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. Except as required by
applicable securities laws, the Company  undertakes 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.


Source: PR Newswire