Navigation Links
Marshall Edwards Announces Closing of Asset Purchase Agreement With Novogen

SAN DIEGO, May 10, 2011 /PRNewswire/ -- Marshall Edwards, Inc.(Nasdaq: MSHL), an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced today the closing of the asset purchase agreement entered into between the Company and its majority shareholder, Novogen Limited, and Novogen Research Pty Limited on December 21, 2010. The closing of the transaction follows approval at a meeting of Novogen shareholders on May 6, 2011. The agreement was previously approved at Marshall Edwards' Annual Meeting of Stockholders on April 13, 2011. Under the agreement, Marshall Edwards acquires Novogen's isoflavone-based intellectual property portfolio in a stock-based transaction.

"The closing of this strategic transaction gives us, once and for all, the flexibility to develop and partner these valuable assets and enables us to explore other potential drug candidates and indications within the portfolio," said Daniel P. Gold, Ph.D., President and Chief Executive Officer of Marshall Edwards. "We look forward to entering the clinic with two next-generation drug candidates, NV-143 and NV-344, this year."

Previously, Marshall Edwards licensed rights from Novogen for oncology drug candidates Phenoxodiol, Triphendiol, NV-143 and NV-128. Effective immediately, all prior licensing agreements between the two companies, including any potential future milestone or royalty payments, are canceled.

Each share of the 1,000 shares of Class A Preferred Stock is convertible into 4,827 shares of Marshall Edwards common stock for an aggregate of 4,827,000 shares, valued in total at $4 million based on the volume weighted average price over the 20 trading days prior to the date of the date of the execution of the asset purchase agreement. Should any of the acquired assets achieve a statistically significant result in a Phase II clinical trial or the first patient is enrolled in a Phase III clinical trial, each share of Class A Preferred Stock not already converted will become convertible into 9,654 of Marshall Edwards common stock.

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 drug candidate NV-143. The second is a mitochondrial inhibitor program that includes NV-128 and its next-generation candidate NV-344. Both programs are expected to advance into the clinic in 2011. For more information, please visit

Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those contained in the forward-looking statements, which are based on Novogen's and Marshall Edwards' management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, the ability of the parties to obtain all necessary approvals for the proposed transaction or the failure to consummate, or a delay in consummating, the transaction for other reasons; costs and delays in the development and/or FDA approval, or the failure to obtain such approval, of product candidates; uncertainties or differences in interpretation in clinical trial results; the parties' inability to maintain or enter into, and the risks resulting from dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; the inability to protect patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate the parties' respective businesses; the parties' inability to operate their respective businesses without infringing the patents and proprietary rights of others; general economic conditions; the parties' inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events. Neither Novogen nor Marshall Edwards intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

SOURCE Marshall Edwards, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Marshall Edwards Announces Private Placement
2. Marshall Edwards Announces Publication of Phase II Clinical Trial Results Highlighting Activity of Intravenous Phenoxodiol
3. Marshall Edwards Receives Positive Response From NASDAQ
4. Marshall Edwards to Host Annual Meeting of Stockholders
5. Marshall Edwards Receives NASDAQ Notice Of Non-Compliance; Intends To Request Hearing
6. Marshall Edwards Announces Presentation of New Data Showing Activity in Chemotherapy-Resistant Ovarian Cancer Cells
7. Edwards Lifesciences Announces First Implants in U.S. Study of Minimally-Invasive Pulmonic Valve
8. Edwards Resilient Trial Demonstrates Statistically Superior Results for Treating Peripheral Arterial Disease in the Leg
9. Pfenex Announces Strategic Collaboration With MedImmune for the Use of Pfenex Expression Technology™
10. Insmed Announces First Quarter 2011 Financial Results
11. Intercell AG Announces Q1 2011 Results and Updates on R&D Progress
Post Your Comments:
(Date:11/26/2015)... 26, 2015 ... "2016 Future Horizons and Growth Strategies ... Market: Supplier Shares, Country Segment Forecasts, Competitive ... offering. --> ) has ... Future Horizons and Growth Strategies in the ...
(Date:11/26/2015)... 26, 2015 ... of the  "2016 Future Horizons and ... Drug Monitoring (TDM) Market: Supplier Shares, ... Opportunities"  report to their offering.  ... the addition of the  "2016 Future ...
(Date:11/26/2015)... 2015 Research and Markets ( ... "2016 Future Horizons and Growth Strategies in the ... Country Segment Forecasts, Competitive Intelligence, Emerging Opportunities" ... --> --> This new 247-page ... therapeutic drug monitoring market, including emerging tests, technologies, ...
Breaking Medicine Technology:
(Date:11/27/2015)... CA (PRWEB) , ... November 27, 2015 , ... According ... at the recent 2015 American Dental Association meeting in Washington D.C. revolved around the ... protect a patient’s overall health. The talk stressed the link between periodontal disease (more ...
(Date:11/27/2015)... ... November 27, 2015 , ... A team of Swiss doctors has released ... Surviving Mesothelioma has just posted the findings on the website. Click here to ... cases of 136 mesothelioma patients who were treated with chemotherapy followed by EPP surgery. ...
(Date:11/27/2015)... ... November 27, 2015 , ... The print component ... Today in Atlanta, Dallas, New York, Minneapolis, South Florida, with a circulation of ... distributed nationally, through a vast social media strategy and across a network of ...
(Date:11/27/2015)... ... November 27, 2015 , ... ... Microsoft Dynamics SL User Group (MSDSLUG). Recognized as Microsoft’s official group for end ... Microsoft Dynamics SL software users, partners, industry experts and representatives. Intellitec Solutions’ membership ...
(Date:11/27/2015)... , ... November 27, 2015 , ... CBD College ... of Allied Health Education Programs (CAAHEP) awarded accreditation to its Diagnostic Medical Sonography program. ... accredited colleges, as only one of twelve colleges and universities in the state of ...
Breaking Medicine News(10 mins):