Marshall Edwards, Inc. Licenses Two Anti-Cancer Compounds From Novogen Limited
May 15 2006 - 9:01AM
PR Newswire (US)
WASHINGTON and SYDNEY, Australia, May 15 /PRNewswire-FirstCall/ --
Novogen Limited and Marshall Edwards, Inc. have concluded a License
Agreement for MSHL to develop and commercialize the two oncology
compounds NV-196 and NV-143. NV-196 is being developed initially in
oral form for pancreatic and bile duct cancer and NV-143 is
targeted for the treatment of melanoma, also in oral dosage form.
Marshall Edwards, Inc. holds an option license agreement with
Novogen that entitles the Company to make the first and last offer
from Novogen for oncology compounds that have entered human
clinical trials. NV-196 is in phase I human testing and qualifies
as an option compound. Marshall Edwards, Inc. has exercised that
option on the terms now agreed. NV- 143 is in pre-clinical testing
and has also now been in-licensed by MSHL. The terms of the
licenses consist of a single upfront payment to Novogen of US$1
million, a series of payments for each compound upon reaching the
milestones of US Investigational New Drug (IND) approval, entering
human testing at phases II and III and receipt of a New Drug
Application for marketing and a royalty on sales of five per cent.
Marshall Edwards, Inc. will fund the ongoing clinical programs and
is responsible for the commercial development of the drugs.
Marshall Edwards, Inc., is also the licensee of the Novogen
developed investigational anti-cancer drug phenoxodiol that
currently is in phase II trials for ovarian and prostate cancer.
The Company is concluding the protocol for phenoxodiol to enter a
phase III human trial for chemotherapy resistant ovarian cancer,
the development program for which the FDA has granted the Company
fast track status. The Chairman of Marshall Edwards, Inc.,
Professor Graham Kelly, said the in-licensing of NV-196 represented
a significant addition to the anti-cancer portfolio of the Company.
"The high safety profile and effectiveness that these drugs have
demonstrated in pre-clinical studies, along with our positive
clinical experience with the related compound phenoxodiol, auger
well for a successful clinical program," Professor Kelly said. "The
oncology world is looking for an effective series of drugs that can
be targeted to specific cancers with the knowledge that they are
effective and relatively safe. "With this class of drugs we hope to
be able to offer that combination of safety and effectiveness to
patients," Professor Kelly added. Marshall Edwards, Inc.
(NASDAQ:MSHL) is a U.S. clinical development oncology company and
is majority owned by Novogen, an Australian biotechnology company
that is specializing in the development of therapeutics based on
regulation of the sphingomyelin pathway. Novogen Limited
(ASX:NRT)(NASDAQ:NVGN), based in Sydney, Australia, is developing a
range of therapeutics across the fields of oncology, cardiovascular
disease and inflammatory diseases. More information on phenoxodiol
and on the Novogen group of companies can be found at
http://www.marshalledwardsinc.com/ and http://www.novogen.com/.
Under U.S. law, a new drug cannot be marketed until it has been
investigated in clinical trials and approved by the FDA as being
safe and effective for the intended use. 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 arty 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:
Marshall Edwards, Inc. CONTACT: Christopher Naughton, Chief
Executive Officer of Marshall Edwards, Inc., +61 2 8877 6196
(Australia); or David Sheon for Marshall Edwards, Inc.,
+1-202-518-6321 Web site: http://www.marshalledwardsinc.com/
http://www.novogen.com/
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