Novogen subsidiary to list in London
Friday, 10 May, 2002
Novogen's US subsidiary, Edward Marshall, plans to list on the Alternative Investment Market of the London Stock Exchange at the end of the month.
Prof Alan Husband, Novogen's global research director, said AIM was a separate listing for smaller, growing companies, and was particularly suitable for biotechs.
"The rules for listing on AIM are different to the main listings, but not easier - it just means the size of the company does not need to be so big," he said.
Marshall Edwards has the licence to commercialise the anti-cancer drug phenoxodiol and holds an option to acquire a licence to commercialise future Novogen oncology compounds.
"NV50 is another oncology drug that is being developed specifically for breast cancer," Husband said.
He said there were other families of compounds in Novogen's R&D pipeline, all being developed using the rational drug design approach.
"We will be developing all our oncology products using funds that we have from issued equity," he said.
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