Novogen Reaches Settlement With Chattem on Isoflavone Patent Infringement Case
June 26 2007 - 9:00AM
PR Newswire (US)
SYDNEY, Australia, and NEW CANAAN, Conn., June 26
/PRNewswire-FirstCall/ -- - Novogen Limited (NASDAQ:NVGN)(ASX:NRT),
the world leader in isoflavone research, has settled the legal
action it had taken against Chattem, Inc ("Chattem") on
confidential terms. The lawsuit alleged that certain menopause
products sold by Chattem infringed Novogen's US patents for health
supplements containing isoflavones. (U.S. Patent Nos. 6,562,380
& 6,987,098). The Chief Executive of Novogen, Mr. Christopher
Naughton, said Novogen was dedicated to the development of
isoflavonoid technology, protected by intellectual property, in
both the dietary supplement and prescription pharmaceutical arenas.
"Novogen has also enforced its isoflavone patent portfolio against
companies such as GNC, NBTY Inc., Natural Alternatives
International Inc and Swanson Health Products in the USA and Swiss
Herbal, Sante Naturelle, Genuine Health and WN Pharmaceuticals in
Canada in recent years, reaching settlements in those matters as
well," Mr. Naughton said. Novogen manages its international
research and development programs that use the expertise and
clinical research capabilities of universities and hospitals in the
U.S., Australia and other key international locations. Novogen's
leading dietary supplement products are Promensil, for the relief
of menopausal symptoms, and Trinovin, for prostate health. Theses
brands are marketed directly by Novogen in Australia, Canada and
Europe, and under license to Natrol, Inc. in the U.S.A. About
Novogen Novogen Limited is an Australian biotechnology company that
has patented isoflavone technology for the treatment and prevention
of degenerative diseases and disorders. Over the past ten years,
Novogen has conducted the largest and most comprehensive isoflavone
clinical testing programs in the world. Novogen is involved in drug
discovery and product development for disorders that are commonly
associated with aging and coordinates an international clinical
research and development program with external collaborators,
hospitals and universities. Novogen's investigational anti-cancer
drug phenoxodiol is currently in Phase III human clinical trials in
the U.S. and Australia. The rights to commercialize this drug are
licensed to the Company's majority owned subsidiary, Marshall
Edwards, Inc., (NASDAQ: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: Christopher Naughton, Managing Director of
Novogen Limited, +1-011-44 (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/
http://www.promensil.com/
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