NOTICE OF YM BIOSCIENCES CONFERENCE CALL TO DISCUSS PHASE II DATA FOR NIMOTUZUMAB IN METASTATIC COLORECTAL CANCER

MISSISSAUGA, ON, Aug. 5 /PRNewswire-FirstCall/ - YM BioSciences Inc. (AMEX: YMI, TSX: YM, AIM: YMBA), an oncology company that identifies, develops and commercializes differentiated products for patients worldwide, will hold a conference call hosted by Mr. David Allan, Chairman and CEO, at 12:00pm EDT today, August 5, where members of the professional investment community are invited to discuss the preliminary results obtained from its open-label, Phase II study (YMB1000-015) of nimotuzumab in patients with irinotecan-refractory, metastatic colorectal cancer (mCRC) with management.

A live audio webcast of the conference call will be available at www.ymbiosciences.com.

About YM BioSciences

YM BioSciences Inc. is an oncology company that identifies, develops and commercializes differentiated products for patients worldwide. In addition to nimotuzumab, the Company is developing AeroLEF(TM), a proprietary, 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; that AeroLEF- will continue to generate positive efficacy and safety data in 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.

CONFERENCE CALL DETAILS DATE: August 5, 2008 TIME: 12:00 PM Eastern Time DIAL IN NUMBER: 416 644 3419 and 1 800 731 5774

SOURCE YM BioSciences Inc.

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