Novogen Receives Royalty Payment From Solae LLC
January 18 2005 - 8:54AM
PR Newswire (US)
Novogen Receives Royalty Payment From Solae LLC STAMFORD, Conn.,
Jan. 18 /PRNewswire-FirstCall/ -- Pharmaceutical company, Novogen
Limited (NASDAQ:NVGN), has received its latest milestone royalty
payment of US$863,000 under a license agreement with Solae LLC (a
joint venture between DuPont's Protein Technologies International
and Bunge Limited). The companies entered the license agreement in
November 1997, and the relevant patent applications are now at
various stages of issue around the world. Solae has the worldwide
rights (other than for Australia and New Zealand) to certain
Novogen soy isoflavone technology. Novogen has retained all rights
to its own red clover-based isoflavone technologies. The Solae
license relates specifically to Novogen patents or patent claims
relating to soy applications. The license requires Solae to make
regular milestone payments and to pay royalties on sales of its
products covered by the Novogen patents. Novogen has become one of
the world's leading research and development companies in the field
of isoflavones and human health. This knowledge has made Novogen
the leader in the related field of phenolic drugs research for
novel anti-cancer compounds. Novogen markets the menopause health
supplement Promensil(TM) and the prostate health supplement
Trinovin(TM). Phenoxodiol, the Company's leading anti-cancer
compound, has received Fast Track designation for recurrent ovarian
cancer from the Food and Drug Administration in the U.S. The rights
to commercialize this drug are licensed to the Company's majority
owned subsidiary, Marshall Edwards, Inc., (NASDAQ:MSHL)(LSE-AIM:
MSHL). More information can be found at http://www.novogen.com/ and
http://www.marshalledwardsinc.com/. 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. You should be aware that our actual results could differ
materially from those contained in the forward-looking statements,
which are based on management's current expectations and are
subject to a number of risks and uncertainties, including, but not
limited to, our failure to successfully commercialize our product
candidates; costs and delays in the development and/or FDA
approval, or the failure to obtain such approval, of our product
candidates; uncertainties in clinical trial results; our inability
to maintain or enter into, and the risks resulting from our
dependence upon, collaboration or contractual arrangements
necessary for the development, manufacture, commercialization,
marketing, sales and distribution of any products; competitive
factors; our inability to protect our patents or proprietary rights
and obtain necessary rights to third party patents and intellectual
property to operate our business; our inability to operate our
business without infringing the patents and proprietary rights of
others; general economic conditions; the failure of any products to
gain market acceptance; our inability to obtain any additional
required financing; technological changes; government regulation;
changes in industry practice; and one-time events. We do not intend
to update any of these factors or to publicly announce the results
of any revisions to these forward-looking statements. DATASOURCE:
Novogen Limited CONTACT: Mr. Christopher Naughton, Managing
Director of Novogen Limited, +011 44 (02) 9878 0088; or David Sheon
of SciWords, LLC, +1-202-518-6321, for Novogen Limited Web site:
http://www.novogen.com/ http://www.marshalledwardsinc.com/
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