NEW YORK, Feb. 19, 2015 /PRNewswire/ -- Novogen presented yesterday (Wednesday February 18) to an audience of stockholders, analysts, investors and investment bankers. The purpose of the briefing was to outline the Company's strategies and organizational arrangements to deal with an anticipated exponential growth over the next 2 years based on the Company's two drug technology platforms already showing broad therapeutic potential across oncology, degenerative diseases, regenerative medicine and autoimmune disease.
Novogen CEO, Graham Kelly PhD, outlined the following key matters.
Structural strategies:
To remain an independent drug discovery company focused on fully exploiting the potential of its two drug platforms. To retain the flexibility and cost advantages of a virtual structure. To devolve the company into asset-centric subsidiaries as a means of isolating risk, attaining better valuations, and facilitating multiple partnerships.
Clinical strategies
The current oncology pipeline of 3 lead candidate drugs (Cantrixil, TRXE-009 and Anisina) has the single purpose of improving the potency of cytotoxic chemotherapy. The Company's objective is to see all three candidate drugs become standard of care in conjunction with standard chemotherapies across most forms of cancer. The clinical indications being sought are Cantrixil (malignant ascites, malignant pleural effusion); TRXE-009 (malignant melanoma, primary and secondary adult brain cancers and pediatric brain cancers); Anisina (prostate cancer, malignant melanoma and neuroblastoma).
Funding strategies
The Company started 2015 with $8M cash, sufficient to run a Phase 1 study for Cantrixil. However for the purposes of risk mitigation and maximizing shareholder value, it has been decided to bring Cantrixil, TRXE-009 and Anisina progressively into the clinic over the next 15 months. For this, shareholder approval will be sought later in 2015 to raise additional funds.
Professor Gil Mor (Yale Medical School) outlined the development of Cantrixil and the rationale behind the establishment of the Novogen-Yale joint venture company, CanTx Inc.
Dr Marc Symons (Feinstein Medical Research Institute) outlined the collaborative program looking to bring TRXE-009 into the clinic for the treatment of glioblastoma.
The Briefing was videotaped and an edited version currently is being prepared for uploading onto the Company's website, www.novogen.com
About Novogen Limited
Novogen is a public, Australian drug-development company whose shares trade on both the Australian Securities Exchange ('NRT') and NASDAQ ('NVGN'). The Novogen Group includes a New Haven CT – based joint venture company, CanTx Inc., with Yale University.
Novogen has two main drug technology platforms: super-benzopyrans (SBPs) and anti-tropomyosins (ATMs). SBP compounds have been created to kill the full range of cells within a tumor, but particularly the cancer stem cells. The ATM compounds target the microfilament component of the cancer cell and when used in conjunction with standard anti-microtubular drugs, result in comprehensive and fatal destruction of the cancer cell's cytoskeleton. Ovarian cancer, colorectal cancer, malignant ascites, prostate cancer, neural cancers (glioblastoma, neuroblastoma in children) and melanoma are the key clinical indications being pursued, with the ultimate objective of employing both technologies as a unified approach to first-line therapy.
Further information is available on our websites www.novogen.com
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Forward Looking Statement
This press release contains "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expects," "appear," "intends," "hopes," "anticipates," "believes," "could," "should," "would," "may," "target," "evidences" and "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to any statements relating to the Company's drug development program, including, but not limited to the initiation, progress and outcomes of clinical trials of the Company's drug development program, including, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to the difficulties or delays in financing, development, testing, regulatory approval, production and marketing of the Company's drug components, including, but not limited to the ability of the Company to procure additional future sources of financing, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug compounds, including, but not limited to events that could slow or prevent products coming to market, the uncertainty of patent protection for the Company's intellectual property or trade secrets, including, but not limited to, the intellectual property relating to the Company's two proprietary technology platforms, and other risks detailed from time to time in the filings the Company makes with Securities and Exchange Commission including its annual reports on Form 20-F and its reports on Form 6-K. Such statements are based on management's current expectations, but actual results may differ materially due to various factions including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on those forward-looking statements as a prediction of actual future results.
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SOURCE Novogen Ltd