Board Changes at Novogen Limited Announced
March 23 2009 - 10:46AM
Marketwired
Novogen Limited (ASX: NRT) (NASDAQ: NVGN) is pleased to announce
the appointment of Mr. William D. Rueckert to its Board of
Directors.
The advantage for Novogen of Mr. Rueckert becoming a director is
that he is already familiar with the group, having been a director
for two years on the boards of subsidiaries, Glycotex and Marshall
Edwards, and brings considerable U.S. based commercial
experience.
Mr. Rueckert is the Managing Member of Oyster Management Group,
LLC and is a director of Glycotex, Inc., an 83 percent owned
unlisted subsidiary of Novogen Limited. Mr. Rueckert was formerly a
director of Emergency Filtration Products, Inc., a public
manufacturer and marketer of respiratory filtration devices, and
President and Director of Eastern Capital Development, LLC since
1999. He also served as President and Director of Rosow &
Company, a private investment firm based in Connecticut since 1990,
Treasurer of Moore & Munger, Inc., a company with interests in
the petroleum and resort development industries from 1988 to 1990,
and was President of United States Oil Company, a publicly traded
oil exploration business from 1981 to 1988. Among his many civic
association affiliations, Mr. Rueckert is Director and President of
the Cleveland H. Dodge Foundation, a private philanthropic
organization in New York City and Chairman of the Board of the
Trustees of Teachers College at Columbia University.
Mr. Rueckert has resigned as a director of Marshall Edwards
Inc., the 72 percent U.S. subsidiary of Novogen Limited.
Welcoming Mr. Rueckert to the Novogen board, Chairman Philip
Johnston said his particular expertise and experience would bring
additional strong commercial acumen to the Board and in particular
his knowledge of all facets of the U.S. capital markets. His two
years on the boards of Marshall Edwards and Glycotex have further
equipped Mr. Rueckert with a detailed understanding of the
operations of the Novogen Group.
Novogen Limited also announces that Mr. Peter Simpson will
retire as a director prior to June 30, 2009.
At Novogen's AGM last year, Mr. Simpson, having been a director
for 15 years, indicated his intention to resign this year after a
suitable replacement was found.
About Novogen Limited and Marshall Edwards, Inc.
Novogen Limited is an Australian biotechnology company based in
Sydney, Australia, that is developing a range of oncology
therapeutics from its proprietary flavonoid synthetic chemistry
technology platform. Marshall Edwards, Inc. (NASDAQ: MSHL) is a
majority owned US subsidiary of Novogen which has licensed rights
from Novogen to undertake clinical trials to bring three of its
oncology drugs -- phenoxodiol, triphendiol (NV-196) and NV-143 --
to market globally. More information on phenoxodiol, triphendiol,
NV-128 and on the Novogen group of companies can be found at
www.novogen.com and at www.marshalledwardsinc.com. More information
about Marshall Edwards' Phase III clinical trial OVATURE, in which
phenoxodiol is being studied in conjunction with weekly carboplatin
for its efficacy in treating advanced ovarian cancer can be found
by visiting www.ovaturetrial.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 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.
FOR FURTHER INFORMATION: MR CHRISTOPHER NAUGHTON MANAGING
DIRECTOR NOVOGEN LIMITED TEL +61 (02) 9878 0088
http://www.novogen.com ISSUED BY: WHITECOAT Strategies CONTACT:
David Sheon 202 547-2880
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