YM Biosciences to buy Eximias Pharmaceutical

Canada's YM BioSciences is acquiring Eximias Pharmaceutical in a part-cash, part-stock deal. YM said it was paying at least $25 million in stock for the Berwyn, PA-based drug developer, but did not disclose the full value of the acquisition. YM BioSciences added over the weekend that certain Eximias shareholders would be paid in cash if Eximias had at least $25 million in cash on hand when the transaction closed. Eximias will operate as a whole-owned subsidiary. The deal is expected to close in a matter of weeks.

- see the AP report for more information