YM BioSciences prices 35,000,000 common shares in underwritten public offering

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 the pricing of 35,000,000 common shares at US$2.00 per common share in its previously announced underwritten public offering (the "Offering"). 

BofA Merrill Lynch is acting as sole book-running manager for the Offering and Wells Fargo Securities, LLC is acting as lead manager. JMP Securities LLC, Collin Stewart LLC, Rodman & Renshaw, LLC and Roth Capital Partners, LLC are acting as co-managers for the Offering.  In addition, the Company granted to the underwriters a 30-day option to purchase an additional 5,250,000 common shares.  The offering is expected to close on or about February 29, 2012, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering to fund its ongoing drug development activities and for general corporate purposes and working capital.

SOURCE YM BioSciences Inc.