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Marshall Edwards Adds $2 Million in Private Placement
Date:12/29/2011

SAN DIEGO, Dec. 29, 2011 /PRNewswire/ -- Marshall Edwards, Inc. (Nasdaq: MSHL), an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced today that it has reached a definitive agreement with its majority shareholder, Novogen Limited, to sell common stock in a private placement for gross proceeds of $2 million, before deducting fees and expenses of the offering, through the sale of approximately 1.94 million shares of common stock. The offering is expected to close by tomorrow, December 30, 2011, subject to certain customary closing conditions.

The net proceeds from the offering will be used to continue development of Marshall Edwards' lead oncology drug candidates, including the submission of an Investigational New Drug (IND) application for ME-344 in the first quarter of 2012 and the completion of a Phase I clinical trial of intravenous ME-143 in patients with solid refractory tumors in the second quarter of 2012.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Marshall Edwards, Inc. nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Marshall Edwards

Marshall Edwards, Inc. (Nasdaq: MSHL) is a San Diego-based oncology company focused on the clinical development of novel anti-cancer therapeutics. The Company's lead programs focus on two families of small molecules that result in the inhibition of tumor cell metabolism. The first and most advanced is a NADH oxidase inhibitor program that includes lead candidate ME-143. The Company initiated a Phase I clin
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SOURCE Marshall Edwards, Inc.
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