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Novogen Appoints Iain Ross as Acting CEO and Re-appoints Him to the Board

SYDNEY, July 22, 2015 /PRNewswire/ -- Novogen Limited (ASX:NRT; NASDAQ: NVGN), a US-Australian drug development company, today announced the appointment to the Board of Iain Ross, an experienced multi-national pharmaceutical and biotechnology executive. Mr Ross, a former director of Novogen Limited will re-join the Board with immediate effect and take on the role of Acting Chief Executive until a permanent appointment is made.

Mr Ross is currently Chairman of Premier Veterinary Group PLC (formerly Ark Therapeutics PLC), a non-executive director of Amarantus Bioscience Holdings Inc and a non-executive director for ASX-listed companies Anatara Lifesciences Ltd, Benitec Biopharma Ltd and Tissue Therapies Ltd.

Following a career with multinational companies, Sandoz AG, Hoffman La Roche and Celltech Group plc, Mr Ross has over the past 20 years undertaken a number of company start-ups, turnarounds and exits as a Board member on behalf of private equity groups and banks. These include Quadrant Healthcare PLC (sold to Elan); Eden BioDesign (sold to Watson Pharmaceuticals); Phadia AB (sold to Cinven); SR Pharma PLC (merged with Atugen AG to form Silence Therapeutics PLC) Allergy Therapeutics Limited (prepared for IPO); and Ark Therapeutics PLC (subsidiaries sold off to private equity and a new business reversed in to form Premier Veterinary Group PLC).

Mr Ross brings to this role an impressive track record which includes multiple financing transactions, having raised more than GBP250m, both publicly and privately, as well as extensive experience in divestments and strategic restructures and more than 20 years in cross border management as a Chairman and CEO. He has led and participated in five IPOs on the London and Australian Stock Exchanges and two up-listings to NASDAQ, and has direct experience of M&A transactions in Europe, the US and Pacific Rim. He is a qualified Chartered Director and Vice Chairman of the Council of Royal Holloway, London University.

Iain Ross said he was extremely pleased to be able to re-join the Board of Novogen at a time when the Company is making great progress on all fronts.

"The management team is extremely capable and experienced and I look forward to working again in particular with Dr Andrew Heaton, who was responsible for the discovery of the super-benzopyran technology platform, Dr Justine Stehn, who along with Professor Peter Gunning are responsible for out anti-tropomyosin assets and the Company's CSO Dr David Brown," Mr Ross said.

"Novogen has an outstanding team of scientists, a strong management group and an experienced and committed Board of Directors. My goal in the short term is to bring focus and clarity to the organisation, whilst finding the best person to lead the Company going forward. We intend to keep shareholders fully informed during this transition."

Interim Chairman, Ian Phillips, added, "I am pleased we have been able to persuade Iain to re-join the Novogen Board and that he has agreed to take on the role of Acting CEO. We have initiated a worldwide search for a permanent appointment."

About Novogen

Novogen is a public, Australian-US drug development company whose shares trade on both The Australian Securities Exchange (NRT) and NASDAQ (NVGN). The Novogen group includes US-based, CanTx Inc, a joint venture company with Yale University. Novogen has two drug technology platforms (the super-benzopyrans (SBPs) and anti-tropomyosins (ATMs)) yielding drug candidates that are first-in-class with potential application across a range of cancers. Given the encouraging data from in vitro and in vivo pre-clinical Proof-of-Concept studies in the field of Oncology, our immediate focus is to bring our lead Oncology drug candidates Cantrixil, Anisina and Trilexium into the clinic in 2016 pending successful completion of their respective toxicology programs. Ovarian cancer, colorectal cancer, malignant ascites, prostate cancer, neural cancers (glioblastoma, neuroblastoma in children) and melanoma are the potential clinical indications being pursued, with the ultimate objective of employing both technologies as a unified approach to therapy.

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SOURCE Novogen Ltd
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