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Novogen and Marshall Edwards Sign Asset Purchase Agreement
Date:12/21/2010

SYDNEY and SAN DIEGO, Dec. 21, 2010 /PRNewswire-FirstCall/ -- Novogen Limited and Marshall Edwards, Inc. (Nasdaq: MSHL), an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced today that they have entered into a definitive asset purchase agreement pursuant to which Marshall Edwards will acquire Novogen's isoflavone-based intellectual property portfolio in exchange for $4 million of convertible preferred stock.

"Over the past fifteen years, Novogen has conducted the largest and most comprehensive isoflavone-based research program in the world," said William D. Rueckert, Chairman of Novogen's Board of Directors. "We believe these assets are now better served in the hands of a company equipped with the drug development expertise and access to capital required to execute a clinical strategy and fully realize their value. Meanwhile, this transaction serves to bolster our ownership stake in Marshall Edwards, a significant value driver for our company going forward."

"This agreement represents the culmination of a watershed year at Marshall Edwards," said Professor Bryan Williams, Ph.D., Chairman of Marshall Edwards' Board of Directors. "Now armed with a hand-selected management team, world-class oncology drug development expertise and the flexibility to develop these valuable assets, we are poised to enter the clinic with two next-generation drug candidates in the coming year. In addition, this strategic acquisition will enable us to explore other potential candidates and indications within the portfolio while enhancing our ability to partner."

Utilizing a novel isoflavone-based technology platform, researchers at Novogen have generated more than 400 new chemical structures, including a number of compounds that have demonstrated robust anti-tumor activity in cancer cells. Previously, Marshall Edwards licen
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SOURCE Marshall Edwards, Inc.
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