Marshall Edwards, Inc. Announces Resignation of Stephen Breckenridge From Board of Directors and Appointment of William Rueckert
December 19 2008 - 8:15AM
Marketwired
Marshall Edwards, Inc. (NASDAQ: MSHL) announced that Stephen
Breckenridge resigned as a member of the Board of Directors
effective December 15, 2008 for personal reasons. Mr. Breckenridge
was the Chairman of the Audit Committee and served as the audit
committee financial expert. He also served as a member of the
Compensation Committee. On December 18, 2008, the Board of
Directors appointed William Rueckert, an existing member of the
Board, as Chairman of the Audit Committee. The Board of Directors
has determined that Mr. Rueckert qualifies as an audit committee
financial expert. As a result of Mr. Breckenridge's resignation,
the size of the Board of Directors has decreased from six to five
members.
About Marshall Edwards
Marshall Edwards, Inc. is a specialist oncology company focused
on the clinical development of novel anti-cancer therapeutics.
These derive from a flavonoid technology platform, which has
generated a number of novel compounds characterized by broad
ranging activity against a range of cancer cell types with few side
effects. The combination of anti-tumor cell activity and low
toxicity is believed to be a result of the ability of these
compounds to target an enzyme present in the cell membrane of
cancer cells, thereby inhibiting the production of pro-survival
proteins within the cell. Marshall Edwards has licensed rights from
Novogen Limited (ASX: NRT) (NASDAQ: NVGN) to bring three oncology
drugs -- phenoxodiol, triphendiol and NV-143 -- to market globally.
Marshall Edwards' lead investigational drug, phenoxodiol, is in a
Phase III multinational multi-centered clinical trial for patients
with recurrent ovarian cancer. More information on the trial can be
found at http://www.OVATUREtrial.com.
Marshall Edwards is majority owned by Novogen (ASX: NRT)
(NASDAQ: NVGN), an Australian biotechnology company that is
specializing in the development of therapeutics based on a
flavonoid technology platform. Novogen 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
www.marshalledwardsinc.com and www.novogen.com.
Forward-Looking Statements
Under U.S. law, a new drug cannot be marketed until it has been
investigated in clinical trials and approved by the U.S. Food and
Drug Administration (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
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.
Contact: Warren Lancaster +1-203-966-2556 (USA) Email Contact
Christopher Naughton +61 2 9878 0088 (Australia) Email Contact
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