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Marshall Edwards Announces $2 Million Private Placement
Date:9/28/2011

SAN DIEGO, Sept. 28, 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 entered into 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 1.33 million shares of common stock. The offering is expected to close on September 30, 2011, subject to certain customary closing conditions.

"This transaction is another indication of Novogen's ongoing support of Marshall Edwards and our emerging oncology programs," said Daniel P. Gold, Ph.D., President and Chief Executive Officer of Marshall Edwards. "Net proceeds from this offering will be used to continue development of our two lead drug candidates, ME-143 and ME-344, and will enable us to advance these programs to meaningful clinical data points next year that we believe can create significant value for our shareholders."

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
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