Posts Tagged ‘Novogen’

ASX Company News: Novogen To Acquire Triaxial Pharmaceuticals

Tuesday, November 13th, 2012

Novogen (NRT) announced that it has signed a term sheet in relation to the proposed acquisition of all of the shares of Triaxial Pharmaceuticals Pty Ltd (“Triaxial”) for $1.88 million in a combination of the Company’s ordinary shares and debt based on the achievement of certain clinical milestones.

Triaxial is a privately-owned, Australian bio-pharmaceutical company which was established in 2009. The company was formed to develop a technology platform addressing the problem of certain families of small molecular drugs where there is an inherent inflexibility in their chemical structure. The platform is not limited to specific compounds, however Triaxial is initially using its technology to create a family of molecules known as super benzopyrans. These molecules target a range of key signal transduction pathways that are at the heart of multi-drug resistance in cancer cells.

The proposed transaction is conditional on completion of Novogen’s previously announced capital reduction and remains subject to the execution of mutually satisfactory legal documentation.

www.novogen.com

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ASX Company News: Novogen Acquires S*BIO’s HDAC Inhibitor

Friday, August 10th, 2012

Novogen’s (NRT) subsidiary, MEI Pharma, Inc., an oncology company focused on the clinical development of novel therapies for the treatment of cancer, announced that it has entered into a definitive asset purchase agreement with S*BIO Pte Ltd, a privately held biotechnology company, pursuant to which MEI Pharma will acquire S*BIO’s exclusive worldwide rights to Pracinostat, an investigational, potential best-in-class, oral histone deacetylase (HDAC) inhibitor.

“We are excited to seize this opportunity to bolster our pipeline with a potential best-in-class, late-stage compound with activity against a validated target, under favourable terms,” said Daniel P Gold, PhD, President and Chief Executive Officer of MEI Pharma. “The acquisition of Pracinostat broadens our potential addressable market in oncology with applications in both hematologic disorders and solid tumours. We believe that the addition of this targeted small molecule to our existing portfolio of novel isoflavone-based drug candidates, ME-143 and ME-344, will significantly enhance shareholder value.”

Pracinostat is a selective inhibitor of a group of enzymes called histone deacetylases (HDAC).  HDACs belong to a larger set of proteins collectively known as epigenetic regulators that can alter gene expression by chemically modifying DNA or its associated chromosomal proteins. Abnormal activity of these regulators is believed to play an important role in cancer and other diseases.

There are currently two HDAC inhibitors approved by the U.S. Food and Drug Administration (FDA) for the treatment of cutaneous T-cell lymphoma, one of which is also approved for the treatment of peripheral T-cell lymphoma. Pracinostat has been generally well tolerated in clinical testing of more than 150 patients, with readily manageable side effects often associated with drugs of this class. The most common adverse event (all grades) is fatigue. Data from a Phase II clinical trial of oral Pracinostat showed evidence of single-agent activity in heavily pre-treated patients with intermediate or high-risk myelofibrosis, with two patients showing a clinical improvement. These results are scheduled for publication in the September, 2012 issue of Leukemia Research.

www.novogen.com

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ASX Company News: Novogen To Merge With Kai Medical

Monday, July 30th, 2012

Novogen (NRT) announced that it has entered into a merger agreement with Kai Medical, a United States based company, incorporated in Delaware, whose business is focused on sleep apnoea therapy devices and wireless respiration monitoring technology. The agreement is subject to a number of conditions including completion of due diligence and shareholder approval. A summary of the key terms of the merger agreement including the conditions precedent is set out in the attachment to this announcement.

“We are very pleased to be able to enter into a relationship with Kai Medical that provides Novogen shareholders with an opportunity to participate in the growth and success of Kai Medical’s revolutionary sleep apnoea therapy device”, said William D Rueckert, Chairman of the Board for Novogen. He continued, “the sleep apnoea market, Worldwide is a rapidly growing market with tremendous opportunities for companies like Kai that have a product with a distinct performance advantages. There is a clear unmet need for patients with this condition for a convenient and effective therapy.” Bob Nakata, CEO of Kai Medical added, “Kai Medical has recently received its CE Mark for Kai Apnea, which is the key regulatory approval needed for sales in most of the world. Kai Apnea is more comfortable to use and will likely have higher compliance than most other sleep apnoea devices. I believe that this will lead to strong growth in the coming years and am pleased that we can share this progress with Novogen shareholders through this transaction.”

In addition to the merger agreement with Kai, Novogen announced that in advance of the merger with Kai Medical and subject to shareholder approval, it will undertake a capital reduction and in specie distribution to the Novogen shareholders of the shares of MEI Pharma, Inc., (formerly known as Marshall Edwards, Inc.) that it owns.

Novogen Limited is an Australian biotechnology company based in Sydney, Australia. Novogen conducts research and development on oncology therapeutics through its subsidiary, MEI Pharma, Inc.  Kai Medical develops and markets medical devices for sleep apnoea therapy and devices to measure and monitor respiration wirelessly, with no contact, and from a distance. Kai Medical is based in Honolulu, Hawaii USA.

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ASX Company News: Novogen Subsidiary Granted US Patent

Friday, April 27th, 2012

Novogen (NRT) subsidiary, Marshall Edwards, Inc.,  an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced that the US Patent and Trademark Office has issued Patent No. 8,163,795 covering the company’s lead drug candidate ME-143 for use in treating cancer. The patent is expected to provide protection until September 2025. The company also announced that it has received notices of allowance from the Japanese Patent Office for two patents that cover the ME-143 and ME-344 compositions of matter, respectively, and their use in treating cancer.

“This key US patent for ME-143 follows on the heels of a related patent for ME-344 as well as a composition patent for both compounds, solidifying the intellectual property position surrounding our two lead oncology drug candidates,” said Daniel P Gold PhD, President and Chief Executive Officer of Marshall Edwards. “As we prepare for our upcoming Phase II clinical trials, we believe our strong patent estate will help to facilitate our partnering efforts both in the US and in high growth markets abroad.”

Marshall Edwards owns exclusive worldwide rights to all of its drug candidates, including ME-143 and ME-344. The company’s intellectual property portfolio now includes 15 issued US patents, at least 12 additional US patent applications, and more than 70 issued foreign patents and 50 foreign patent applications. Marshall Edwards, Inc. is a San Diego-based oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. Novogen Limited (NRT) is an Australian biotechnology company based in Sydney, Australia. Novogen conducts research and development on oncology therapeutics through its subsidiary, Marshall Edwards, Inc., and is developing glucan technology through its subsidiary, Glycotex, Inc.

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ASX Company News: Novogen Secures Cancer Treatment Patent

Thursday, December 22nd, 2011

Novogen (NRT) subsidiary, Marshall Edwards, Inc., an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced today that the US Patent and Trademark Office has issued a new patent covering a number of the company’s isoflavone-based compounds, including lead oncology drug candidates ME-143 and ME-344, and their pharmaceutical compositions. The patent is estimated to provide protection until March 2027.

“This patent represents another important milestone in our efforts to develop our lead drug candidates into valuable treatment options for patients with cancer” said Daniel P Gold, PhD, President and Chief Executive Officer of Marshall Edwards. “Furthermore, this demonstrates our commitment to further strengthening the intellectual property portfolio we acquired earlier this year, which will be essential for partnering any of our drug candidates and enhancing shareholder value.”

Marshall Edwards completed the acquisition of its isoflavone-based intellectual property portfolio, including worldwide rights to lead oncology drug candidates ME-143 and ME-344, from Novogen Limited in May 2011. The portfolio now includes 11 issued US patents, at least 14 US patent applications, at least 40 issued foreign patents and at least 80 foreign patent applications. Marshall Edwards, Inc. is a San Diego-based oncology company focused on the clinical development of novel anti-cancer therapeutics. The company’s lead programs focus on two families of small molecules that result in the inhibition of tumour cell metabolism. Novogen Limited (NRT) is an Australian biotechnology company based in Sydney, Australia. Novogen conducts research and development on oncology therapeutics through its subsidiary, Marshall Edwards, Inc., and is developing glucan technology through its subsidiary, Glycotex, Inc.

www.novogen.com

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ASX Company News: Novogen Enters Cancer Research Joint Venture With Ausio Pharmaceuticals

Monday, October 31st, 2011

Marshall Edwards, Inc., an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, a subsidiary of Novogen (NRT), and Ausio Pharmaceuticals, LLC, a biopharmaceutical company focused on the development of safe and effective medicines for the aging population, announced the signing of an exclusive, royalty- bearing licence agreement. The agreement gives Ausio exclusive, worldwide rights under certain Marshall Edwards patents to develop, manufacture and sell products utilising the isoflavone metabolite known as equol for non- oncology applications. In exchange, Marshall Edwards is entitled to receive royalty payments on sales of any potential Ausio products that contain equol. In addition, the agreement gives Marshall Edwards a royalty-free licence to certain issued manufacturing-related intellectual property owned by Ausio.

“We are very pleased to enter into this licencing agreement with Ausio, our first since completing the acquisition of our isoflavone-based intellectual property portfolio earlier this year,” said Daniel P Gold, PhD, President and Chief Executive Officer of Marshall Edwards. “This agreement demonstrates our commitment to maximising the value of these assets while maintaining our focus on the clinical development of our two current lead oncology drug candidates, ME-143 and ME-344.”

Ausio Pharmaceuticals, LLC, is a private biotechnology development company focused on the advancement of safe and effective medicines for the aging population. Ausio was founded in 2006 by Richard Jackson, PhD. based on technologies licensed from the Australian Health and Nutrition Association and Cincinnati Children’s Hospital Medical Center. The Company has garnered a strong patent position for its lead compound, AUS 131 (also referred to as S-equol). It has rapidly developed AUS-131 by working with excellent service providers. Ausio’s strategic goal is to collaborate with international pharmaceutical partners for AUS-131 in the US and other markets worldwide.  Marshall Edwards, Inc. is a San Diego-based oncology company focused on the clinical development of novel anti-cancer therapeutics.  Novogen Limited (NRT) is an Australian biotechnology company based in Sydney, Australia. Novogen conducts research and development on oncology therapeutics through its subsidiary, Marshall Edwards, Inc., and is developing glucan technology through its subsidiary, Glycotex, Inc.

www.novogen.com

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ASX Company News: Novogen Sells Consumer Products Division

Wednesday, August 3rd, 2011

Novogen Limited (NRT) announced the completion of the sale of its consumer products business to Pharm-a-Care Laboratories Pty Limited for a total sale price of $A10.1million.

In making the announcement, William D Rueckert, Chairman said: “Over the past six months, Novogen’s Board has conducted a strategic review of all of the Company’s assets and operations. The consumer products division was considered non-core to the Company’s future focus on drug development. “The sale of this business represents a very successful outcome for the Company and its shareholders. We believe that the resources provided by the sale will allow Novogen to advance its therapeutic drug development opportunities. “It is the current intention of the Novogen Board to redeploy the bulk of the proceeds of this transaction into additional investment in the Company’s two majority owned subsidiaries, Marshall Edwards, Inc. and Glycotex, Inc. The additional capital will allow both Marshall Edwards and Glycotex to advance their respective development programs to clinical data points which we believe can create significant value for Novogen’s shareholders.”

Novogen Limited is an Australian biotechnology company based in Sydney, Australia. Novogen conducts research and development on oncology therapeutics through its 65 per cent owned  subsidiary, Marshall Edwards, Inc. and is developing glucan technology through its 80.7 per cent owned subsidiary, Glycotex, Inc.

www.novogen.com

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ASX Company News: Novogen Sells Commercial Products Division

Saturday, July 23rd, 2011

Novogen Limited (NRT) announces it has entered into an agreement for the sale of its consumer products division.

In making the announcement the Company’s Chairman, William D Rueckert, said “As advised at both the Company’s AGM in October, 2010 and the EGM held in May, 2011 the Company has been looking at strategic alternatives for its consumer products business. While this business has grown over the past 12 months and is profitable, it does not fit with our longer term focus on therapeutic drug development programs primarily, through our majority owned subsidiaries Marshall Edwards, Inc. and Glycotex, Inc.” “With this transaction we believe we will realise good value for our shareholders from a buyer which will continue the development of our successful brands. The Novogen Board is looking at opportunities for the reinvestment of the proceeds of the sale and will provide more information after the sale is completed.”

Novogen Limited is an Australian biotechnology company based in Sydney, Australia. Novogen conducts research and development on oncology therapeutics through its 65 per cent owned subsidiary, Marshall Edwards, Inc., and is developing glucan technology through its 80.7 per cent owned subsidiary, Glycotex, Inc.

www.novogen.com

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