MISSISSAUGA , Ontario, May 9, 2006 /PRNewswire-FirstCall/ - YM BioSciences Inc. today announced it has completed the acquisition of Eximias Pharmaceutical Corporation ( Berwyn, Pennsylvania), a privately-held pharmaceutical company engaged in the acquisition, development and commercialization of products for the treatment of cancer and cancer-related disorders.
As a result of the transaction, YM gains more than US $29 million in cash and a seasoned oncology management team. Eximias will become a wholly-owned subsidiary of YM named YM BioSciences USA and will serve as the Company's base of operations in the United States. Ms. Gail Schulze, President and CEO of Eximias, will become President of YM BioSciences and CEO of the US subsidiary.
Mr. Scott Jackson will serve as Vice-President of Marketing. Mr. Jackson has more than 17 years of marketing and sales experience in the pharmaceutical and biopharmaceutical industries. Mr. Jackson was Senior Director, Oncology and Infectious Diseases at Centocor (Johnson and Johnson) and held commercial positions of increasing responsibility at ImClone Systems Incorporated, SmithKline Beecham and Eli Lilly & Co. Mr. Jackson holds a BS in Pharmacy from the Philadelphia College of Pharmacy and Science and an MBA from the University of Notre Dame.