Rochester, NY 9/1/2009 6:38:39 AM
YM BioSciences Inc., YMI, Down By 0.18 Cents After Close Market
YM BioSciences Inc.
Canada's YM BioSciences (YM.TO: Quote) was granted a U.S. license to develop a cancer tumor treatment in the United States and said it would seek permission to commercialize the drug in the U.S. market, sending its shares up 100 percent.
The Toronto-area company said its U.S.-based subsidiary received the license from the Treasury Department's Office of Foreign Assets Control allowing it to develop its lead product, nimotuzumab, for patients with solid tumor cancers.
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ABOUT YM Biosciences, Inc.
YM Biosciences, Inc., a biopharmaceutical company, develops products primarily for the treatment of patients with cancer worldwide. Its product candidates in the clinical stage of development include Nimotuzumab, a humanized monoclonal antibody that targets the epidermal growth factor receptor designed to treat epithelial cancers, as well as for nasopharangeal cancer and for head and neck cancer; AeroLEF, a proprietary formulation of free and liposome-encapsulated fentanyl administered by pulmonary inhalation for the treatment of severe and moderate acute pain, including cancer pain; and Tesmilifene, a small molecule drug with multiple modes of action that demonstrated enhancement of the activity of traditional chemotherapy.
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