Navigation Links
Novogen Board Approves US$4 Million Investment In Marshall Edwards Rights Offering
Date:5/8/2012

SYDNEY, May 8, 2012 /PRNewswire/ -- Novogen Limited (ASX: NRT  Nasdaq: NVGN), announced today that following approval by its shareholders at an Extraordinary General Meeting held on 7 May, 2012, its Board of Directors has resolved to make a US$4 million investment in Marshall Edwards, Inc. ("MEI") under the MEI rights offering previously announced. The investment will be subject to availability of rights that have not been otherwise exercised by MEI or Novogen shareholders. On 20 April, 2012, Novogen distributed a dividend of 7,677,342 rights on a pro rata basis to its shareholders who have until 8 May, 2012 to exercise those rights.

Novogen's Chairman, William Rueckert, said, "We believe it is extremely important for Novogen to continue to support the MEI clinical development program because it represents the greatest opportunity for Novogen shareholders to see an increase in the value of their Novogen shares. As the majority shareholder of MEI, we felt it was essential for Novogen to take a leadership position in the rights offering and set an example that will encourage other shareholders to participate."

About Marshall Edwards

Marshall Edwards, Inc. is a San Diego-based oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The company's lead drug candidates, ME-143 and ME-344, have been shown in laboratory studies to interact with specific enzyme targets resulting in inhibition of tumour cell metabolism, a function critical for cancer cell survival. Marshall Edwards initiated a Phase I clinical trial of intravenous ME-143 in patients with solid refractory tumours in September, 2011 and plans to present safety and pharmacokinetic data from the trial at the American Society of Clinical Oncology Annual Meeting in June, 2012. The company received approval of its Investigational New Drug application for ME-344 in April, 2012 and initiated a Phase I clinical trial of intravenous ME-344 in patients with solid refractory tumours shortly thereafter. For more information, please visit www.marshalledwardsinc.com.

About Novogen Limited

Novogen Limited is an Australian biotechnology company based in Sydney, Australia. Novogen conducts research and development on oncology therapeutics through its subsidiary, Marshall Edwards, Inc., and is developing glucan technology through its subsidiary, Glycotex, Inc. More information on the Novogen group of companies can be found at www.novogen.com.


'/>"/>
SOURCE Novogen Limited
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Marshall Edwards Receives $4 Million Subscription From Novogen In Rights Offering
2. Marshall Edwards Announces Closing of Asset Purchase Agreement With Novogen
3. The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Gen-Probe Incorporated in Connection with the Sale of the Company to Hologic, Inc.
4. University of Maryland BioPark Announces MedImmunes Dr. Bahija Jallal as Newest Member of Board of Directors for UM Health Sciences Research Park
5. Angeion Selects Hendrik Struik for Board of Directors
6. Academy of Managed Care Pharmacy (AMCP) Installs 2012-2013 Board of Directors
7. Lillys John Lechleiter Becomes PhRMA Board Chairman; Robert J. Hugin, Ian Read Assume New Posts
8. Syndax Pharmaceuticals Appoints Arthur M. Pappas to Board of Directors
9. Bionovos Independent Data Safety Monitoring Board Recommends Continuation of Phase 3 Study for Menerba™
10. Stemline Therapeutics Appoints Kevin Buchi, Former CEO of Cephalon, to Its Board of Directors
11. BioDrain Medical Inc. Appoints New Board Member
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/5/2020)... LOS ANGELES (PRWEB) , ... April 04, 2020 ... ... demand for telemedicine from cancer patients now undergoing treatment. The company notes that ... related to the Coronavirus COVID-19 outbreak rose. , "Cancer patients feel safer with ...
(Date:4/2/2020)... ... April 02, 2020 , ... ... the KRT Series, a portable, durable luminaire using Indigo-Clean Technology. These unique lighting ... existing cleaning and infection prevention protocols, and reducing harmful bacteria when used as ...
(Date:4/1/2020)... ... April 01, 2020 , ... As the coronavirus pandemic ... care and accessible primary care, launches its telemedicine platform, AFC/TeleCare, as a solution ... now provide virtual visits, allowing our medical providers to easily connect with patients ...
Breaking Medicine Technology:
(Date:4/5/2020)... (PRWEB) , ... April 03, 2020 , ... United ... its Short Term Major Medical (STMM) plan in the state of Oklahoma. ... an increasingly viable option for millions of Americans in all financial situations. STMM can ...
(Date:4/5/2020)... Mich. (PRWEB) , ... April 04, 2020 , ... ... of a report conforming to the newly mandated federal reporting of COVID-19 testing ... , On March 29, 2020, Vice President Pence announced that all hospitals report ...
(Date:4/5/2020)... ... ... Given the current pandemic and economic crisis, it is important to manage ... rise to several thousand dollars per year. It all depends on several factors, including ... so on. Drivers can get better rates if they: , , ...
(Date:4/2/2020)... ... 2020 , ... LifeLearn Animal Health , in partnership with the North ... veterinary CE course COVID-19: What we know and don’t know with Dr. Scott ... to COVID-19, it’s important for practices and pet owners to get the facts,” says ...
(Date:4/2/2020)... ... April 02, 2020 , ... Since the onset of the COVID-19 pandemic, there ... GoParrot ( https://www.goparrot.ai/ ) founder Yaniv Nissim has stepped up to the plate ... food safety, has created new standards for delivering food during this time of COVID-19 ...
Breaking Medicine News(10 mins):