YM BioSciences Announces Election of Dr. Kapil Dhingra to its Board
of Directors
MISSISSAUGA, ON, Nov. 20, 2012 /CNW/ - 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,
India.
"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.