YM BioSciences Announces Receipt of Final Court Order Approving the Plan of Arrangement with Gilead Sciences

 YM BioSciences Announces Receipt of Final Court Order Approving the Plan of
                       Arrangement with Gilead Sciences

PR Newswire

MISSISSAUGA, ON, Feb. 5, 2013

MISSISSAUGA, ON, Feb. 5, 2013 /PRNewswire/ - YM BioSciences Inc. (NYSE MKT:
YMI, TSX: YM) (the "Company" or "YM") is pleased to announce that the Supreme
Court of Nova Scotia has issued a final order approving the previously
announced plan of arrangement (the "Arrangement") involving the Company,
Gilead Sciences, Inc. ("Gilead") and 3268218 Nova Scotia Limited, a
wholly-owned subsidiary of Gilead (the "Purchaser").   Under the Arrangement,
the Purchaser will acquire all of the issued and outstanding common shares
("Common Shares") of the Company for cash consideration of US$2.95 per Common
Share. In addition, holders of warrants and options will each receive a cash
payment equal to the difference between US$2.95 and the exercise price of such
warrants or options.

Assuming  all  other  closing  conditions  are  satisfied  or  waived,  it  is 
anticipated that the Arrangement  will become effective on  February  8,  2013 
(the "Effective Date").  The  Common Shares are expected  to be delisted  from 
the Toronto Stock Exchange and NYSE  MKT LLC promptly following the  Effective 
Date.  Following completion of the Arrangement, the Company will also apply to
cease to be a reporting issuer  under applicable Canadian securities laws.  In 
addition, the Company will  be eligible to terminate  the registration of  its 
Common Shares under the United States  Securities Exchange Act of 1934,  which 
would mean that  the Company will  no longer  be required to  file or  furnish 
reports with the United States Securities and Exchange Commission.

Further details  regarding the  Arrangement are  set out  in the  joint  press 
release dated  December 12,  2012 and  the management  proxy circular  of  the 
Company dated  December 31,  2012, copies  of which  are available  under  the 
corporate profile of the Company on SEDAR at www.sedar.com.

About YM
YM is a  drug development company  primarily focused on  advancing CYT387,  an 
orally administered inhibitor of  both the JAK1 and  JAK2 kinases, which  have 
been implicated  in  a  number  of hematological  and  immune  cell  disorders 
including myeloproliferative neoplasms  and inflammatory diseases  as well  as 
certain cancers. Positive results have been  reported from a Phase I/II  trial 
of CYT387 in 166 patients with myelofibrosis.

This press release may contain forward-looking statements, which reflect  YM'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, uncertainties as to the timing of the
arrangement; the satisfaction of the conditions precedent to the completion of
the  arrangement;  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 or  the ability  to 
obtain drug  product in  sufficient  quantity or  at standards  acceptable  to 
health  regulatory  authorities  to  complete  clinical  trials  or  to   meet 
commercial demand; and other risks detailed from time to time in YM's  ongoing 
quarterly and annual  reporting. Except as  required by applicable  securities 
laws,  YM  undertakes  no  obligation   to  publicly  update  or  revise   any 
forward-looking statements, whether  as a  result of  new information,  future 
events or otherwise.

SOURCE YM BioSciences Inc.

Contact:

James Smith
VP Corporate Affairs
YM BioSciences Inc.
Tel. +1 905.361.9518
jsmith@ymbiosciences.com