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:9/6/2017)... ANTONIO , Sept. 6, 2017  Robert G. ... a Pinnacle Professional Member in recognition of his contributions ... Szewc serves as a Nephrologist at the practice of ... emergency medicine, kidney care and hypertension solutions. He has ... 20 years of career experience, as well as expertise ...
(Date:9/5/2017)... -- Sapheneia and Scannerside received FDA 510(k) clearance to ... third-party Vendor neutral CT product that makes it affordable ... current MITA standards. ... specifically designed to provide CT operators, prior to a ... a predefined threshold. Scannerside Dose Check is intended to ...
(Date:9/1/2017)... 1, 2017 Michael Penna , President ... highlights opportunities for growth in his response to the ... Equity is seeking a buyer for eMDs. Penna,s company, ... healthcare solutions Value Added Reseller and national leader in ... "As the healthcare market continues to dictate ...
Breaking Medicine Technology:
(Date:9/25/2017)... (PRWEB) , ... September 25, 2017 , ... Introducing Panther, ... project is live on crowdfunding platform Kickstarter seeking support for the #WarOnGrime. ... devices has fecal matter. All shockingly revolting, yet true. The Panther iPhone cases are ...
(Date:9/25/2017)... ... September 25, 2017 , ... How many things are ... or includes the phrase “more than any sane human could possibly complete,” then you’re ... to think, and are desperately trying to be everything to everybody all the time. ...
(Date:9/25/2017)... ... September 25, 2017 , ... ... quality and efficiency. The principle of First-Defect-Stop for laboratory weighing is ... they have the chance to have negative consequences on downstream processes. , If ...
(Date:9/25/2017)... ... September 25, 2017 , ... Physician Partners of America ... at 5304 Main Street as an interventional pain management specialist. , Dr. Gorman ... He joins PPOA from private practice In Brooksville, Fla. His orthopedic background puts him ...
(Date:9/25/2017)... ... September 25, 2017 , ... “Renew Refresh Restore Reward”: is ... Restore Reward” is the creation of published author, Deborah Freeman, cofounded the Free Spirit ... “When we returned to our cars, my sister-in-law invited us to come over before ...
Breaking Medicine News(10 mins):