YM BioSciences Completes Merger with Cytopia Limited of Australia

Mississauga-based YM BioSciences Inc. announced that the merger of Cytopia Limited, a Australian biopharmaceutical company, into YM under a scheme of arrangement, has been concluded. Under the terms of the merger transaction, YM has issued 7,276,688 YM shares to former Cytopia shareholders as consideration for all of the issued and outstanding Cytopia shares. The former Chairman of Cytopia has been appointed to YM's Board of Directors. With the transaction, YM’s pipeline has been expanded to incorporate Cytopia's two lead clinical candidates, CYT387 and CYT997, and its pre-clinical library while Cytopia gains access to an extensive network of international licensees as well as YM's experience in the North American market. YM BioSciences is a life sciences product development company.

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