Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Novogen awarded A$3M grant for novel cancer therapy

Thursday, February 9, 2017 15:31
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Novogen (ASX:NRT, NASDAQ:NVGN) has been awarded a grant of up to A$3 million by the Australian Federal Government for a novel cancer drug discovery program.

The grant has been awarded by the Australian Department of Industry Innovation and Science (DIIS) to develop an anti-tropomyosin program, which is intended to provide potential new therapies for cancer.

This research is distinct from Novogen’s existing anti-tropomyosin program, ATM-3507 (Anisina), which is currently in preclinical development.

The award provides a cash grant of up to A$3 million over three years to a collaboration led by Novogen, together with the University of New South Wales (UNSW) and a privately-held contract research organization based in Sydney.

Under the conditions of the grant, Novogen has committed to contributing A$1 million over the three-year life of the project, and UNSW will contribute up to A$300,000, in addition to the A$3 million provided by DIIS under the terms of the grant.

Furthermore, the three parties will provide manpower and other in-kind resources to the project.

The grant remains subject to finalisation of contractual negotiations between the three parties and the Federal Government.

Novogen is listed on the ASX and the NASDAQ, and is well funded with a cash balance of US$25 million as at 30 June 2016.

The company has a well-diversified portfolio of oncology therapies, stretching from preclinical to mid-stage clinical.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/172947/novogen-awarded-a3m-grant-for-novel-cancer-therapy-172947.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.