YMB YM Bio.'b'ser1

    Attention Business Editors:
YM BioSiences announces management changes

    MISSISSAUGA, ON, Feb. 12 /CNW/ - YM BioSciences Inc. (AMEX:YMI, TSX:YM,
AIM:YMBA), an oncology company that identifies, develops and commercializes
differentiated products for patients worldwide, today announced that Gail
Schulze, President, YM BioSciences, and CEO, YM BioSciences USA, Inc., and
John E. Bennett, Vice President, Corporate Development, YM BioSciences USA,
Inc., have left their positions effective immediately. Gail Schulze will
remain a director of the Company.
    "In light of the recent termination of the tesmilifene pivotal trial, we
recognized the need to rapidly re-focus Company resources, including our
organizational structure, on accelerating the clinical development of our
promising nimotuzumab and AeroLEF(TM) programs and to reduce expenditures and
the size of management overhead," said David Allan, Chairman and CEO of YM
BioSciences. "As key members of the U.S. management team assembled through our
acquisition of Eximias, Gail and John brought extensive commercialization and
partnering expertise to YM BioSciences at a critical juncture and their roles
in our preparations for the NDA filing, market development and product launch
of tesmilifene were significant. Along with the Board of Directors of YM
BioSciences, I would like to thank them for the contributions they have made
during their time at YM BioSciences."
    Mr. Allan added, "As we realign our strategy, we continue to evaluate our
current resources against our revised business requirements in order to
determine whether additional changes to the management team are needed."

    About YM BioSciences
    YM BioSciences, Inc. is an oncology company that identifies, develops and
commercializes differentiated products for patients worldwide. The Company has
two late-stage products: nimotuzumab, a humanized monoclonal antibody that
targets the epidermal growth factor receptor (EGFR) and is approved in several
countries for treatment of various types of head and neck cancer; and
AeroLEF(TM), a unique, inhaled-delivery composition of free and
liposome-encapsulated fentanyl in development for the treatment of moderate to
severe pain, including cancer pain.

    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 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 nimotuzumab will continue to demonstrate a competitive
safety profile in ongoing and future clinical trials; and that YM and its
various partners will complete their respective clinical trials within the
timelines communicated in this release. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

/For further information: Thomas Fechtner, The Trout Group LLC, Tel. (212)
477-9007 x31, Fax (212) 460-9028, Email: tfechtner@troutgroup.com; James
Smith, the Equicom Group Inc., Tel. (416) 815-0700 x 229, Fax (416) 815-0080,
Email: jsmith@equicomgroup.com; Media Enquiries, Mike Beyer, Sam Brown
Inc., (773) 463-4211, beyer@sambrown.com/
(YMBA)



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