SYDNEY, March 4, 2014 /PRNewswire/ -- Novogen
Limited (ASX:NRT; NASDAQ:NVGN]), an oncology drug development
company, today announced key new appointments to guide the company
in its transition into a clinical-stage company with a growing U.S.
presence and an investor base in the U.S. and Australia. Professor Peter Gunning, PhD, a leading world
authority on the cytoskeleton, and Iain
Ross, an experienced multi-national pharmaceutical and
biotechnology executive, join the Novogen board of directors as
non-executive directors. David W.
Gryska, an industry expert with over 20 years of
experience in management at many of the top U.S. biotechnology
companies, will serve as a strategic advisor to the board with a
focus on U.S. capital markets and as a U.S. shareholder
liaison.
![Novogen Logo. (PRNewsFoto/Novogen Limited) Novogen Logo. (PRNewsFoto/Novogen Limited)](http://photos.prnewswire.com/prnvar/20131220/NY36990LOGO)
Prof. Gunning, prime inventor of the anti-tropomyosin (ATM) drug
technology platform that Novogen acquired in 2013, and Mr. Ross,
will complement existing board members, John P O'Connor BEc., MAICD
and Steven Coffey CA. The board appointments are effective
March 3, 2014, and reflect the
expansion of Novogen in the U.S. while maintaining ties to the
company's headquarters in Australia.
"My life's work has focused on researching and developing
treatments for children suffering from cancer and believe that,
based on early evidence, Novogen's ATM drug platform offers
significant potential as a treatment for neuroblastoma, the leading
childhood solid cancer, as well as many of the most resilient adult
cancers," said Prof. Gunning, who is currently also head of the
Oncology Research Unit in the School of Medical Sciences at the
University of New South Wales. "I'm
pleased to enter into this new role on the board of directors, and
to support Novogen as it works towards moving this extremely
promising technology into the clinic early next year."
Prof. Gunning has published more than 100 primary research
articles and has recently edited the first book devoted to his
field of research, Tropomyosin. He previously served as
Chair of the Division of Research at The Children's Hospital at
Westmead, Chair of the Westmead Research Hub Executive and Chair,
Board of Bio-Link, a company established by the New South Wales
Government to support commercialization of biomedical intellectual
property.
Mr. Ross is currently a non-executive director for ASX-listed
companies Benitec Biopharma Ltd. and Tissue Therapies Ltd.
Following a career with multinational companies Sandoz AG, Fisons
plc, Hoffman La Roche and Celltech Group plc, he has for
approximately 20 years undertaken a number of company start-ups,
turnarounds and exits as a board member on behalf of private equity
groups and banks. These include Quadrant Healthcare PLC (sold to
Elan); Eden BioDesign (sold to Watson Pharmaceuticals); Phadia AB –
formerly Pharmacia Diagnostics (sold to Cinven); SR Pharma PLC
(merged with Atugen AG to form Silence Therapeutics PLC which was
then merged with Intradigm Inc); Allergy Therapeutics Limited
(prepared for IPO) and Ark Therapeutics PLC (sold subsidiaries off
to private equity).
"Throughout my career, it's been a privilege to support
companies as they develop promising technology and treatments that
can have a real and substantial impact on health," said Mr. Ross.
"I hope to bring my broad experience to Novogen to ensure a smooth
transition as the company expands its footprint in the U.S. and
Australia."
His track record includes multiple financings transactions,
having raised more than £250 million, both publicly and privately,
as well as extensive experience of divestments and strategic
restructurings and more than 20 years in cross-border management as
a chairman and CEO. He has led and participated in four initial
public offerings on the London Stock Exchange, and has direct
experience of M&A transactions in Europe, the U.S. and Pacific Rim. He is a qualified Chartered
Director and Vice Chairman of the Council of Royal Holloway, London University.
Mr. Gryska has more than 20 years of experience in the
healthcare space working for companies such as Scios, Johnson &
Johnson and Celgene. As a strategic advisor, he brings valuable and
relevant experience as a senior financial executive at life
sciences and biotechnology companies dealing with financings,
mergers, acquisitions, global expansion and other strategic
transactions. Mr. Gryska currently serves on the board of directors
of four publicly held biotech companies.
Prof. Gunning and Mr. Ross replace Mr. Robert Birch (Non-Executive Director and Deputy
Chairman) and Dr. Andrew Heaton
(Executive Director).
Robert Birch originally accepted
a Board position on the understanding that his role was to help lay
the foundations for a successful company and that he would seek to
step down once he was satisfied that those foundations were in
place. Likewise, Dr. Andrew Heaton
also was appointed originally to help steer the Company through its
foundation year. Andrew retires in order to focus on his growing
role as CEO and President of Novogen North America, and Vice
President, Drug Discovery and Manufacture, Novogen Group.
"As we approach the clinic as well as establishing our place in
the U.S. biotechnology market, we are pleased to be able to benefit
from Peter, Iain and David's substantial biotechnology experience
and business acumen," said Graham
Kelly, Ph.D., Novogen CEO. "I want to thank Bob Birch and Andrew
Heaton for the tremendous work that they have done in
helping me rebuild the company. Bob in particular has been a
hard-working voice for all Novogen shareholders. Andrew is stepping
down for good governance process, with the company now at a
position where it needs a non-executive and independent Board, as
well as an executive fully focused on a rapidly expanding
workload."
About Novogen
Novogen is a public, Australian
biotechnology company whose shares trade on both the Australian
Securities Exchange ('NRT') and NASDAQ ('NVGN'). The Company
is based in Sydney, Australia, and
with a U.S. office in New Haven,
Connecticut. The Company has two main drug technology
platforms known as super-benzopyrans (SBP) and anti-tropomyosins
(ATM). SBP drugs target cancer stem cells and are being developed
for the treatment of ovarian cancer and glioblastoma. ATM drugs
target the cancer cell cytoskeleton and are being developed for the
treatment of melanoma, prostate cancer, ovarian cancer and
neuroblastoma. Novogen has entered into a joint venture with
Yale University known as CanTx Inc.
with the aim of developing personalized chemotherapy for patients
with ovarian cancer.
Further information is available on the Company's website,
www.novogen.com.
For Further Information Contact:
Investors
In the USA
David
Carey/Tanner Kaufman
Lazar Partners
+1 212-867-1762
Novogen@lazarpartners.com
In Australia
Rudi
Michelson
Monsoon Communications
03 9620 3333
rudim@monsoon.com.au
Media
In the USA
Hollister
Hovey/Allison Parks
Lazar Partners
+ 1 212-867-1762
Novogen@lazarpartners.com
In Australia
Dr
Douglas Pretsell
Instinctif Partners
+61 (0)3 9657 0706
In ROW
Sue
Charles/Stefanie Bacher
Instinctif Partners
+44 (0)20 7457 202
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SOURCE Novogen Limited