YM BioSciences to acquire Eximias Pharmaceutical

By Elaine Rigoli

Tampa, Fla., April 13 - YM BioSciences, Inc. has entered into a definitive agreement to acquire Eximias Pharmaceutical Corp.

Upon completion of the transaction, Eximias will become a wholly owned subsidiary of YM operating as YM BioSciences USA, Inc. and will serve as YM's base of operations in the United States, according to a news release.

The merger consideration will consist of part-cash and part-common shares of YM, with at least $25 million of the merger consideration consisting of YM common shares, the release said.

The definitive agreement has been approved by the boards of directors of both companies and by the stockholders of Eximias. Approval by YM shareholders is not required.

The transaction is expected to close in early May.

Upon completion of the transaction, David Allan will continue as chairman and chief executive officer of YM BioSciences and the current management team will remain in place, the release said.

Eximias, located in Berwyn, Pa., is a pharmaceutical company engaged in the acquisition, development and commercialization of products for the treatment of cancer and cancer-related disorders.

YM BioSciences is a cancer product-development company based in Mississauga, Ont.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.