YM BioSiences announces management changes
08:48 EST Monday, February 12, 2007
MISSISSAUGA, ON, Feb. 12 /PRNewswire-FirstCall/ - 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." |
