Welcome!

News Feed Item

Novogen Appoints New Board Members and Strategic Advisor to Support Transition to Clinical Development and Growing International Presence

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)

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
[email protected]

In Australia
Rudi Michelson
Monsoon Communications
03 9620 3333
[email protected]

Media

In the USA
Hollister Hovey/Allison Parks
Lazar Partners
+ 1 212-867-1762
[email protected]

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

Logo - http://photos.prnewswire.com/prnvar/20131220/NY36990LOGO

SOURCE Novogen Limited

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
"We formed Formation several years ago to really address the need for bring complete modernization and software-defined storage to the more classic private cloud marketplace," stated Mark Lewis, Chairman and CEO of Formation Data Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
UpGuard has become a member of the Center for Internet Security (CIS), and will continue to help businesses expand visibility into their cyber risk by providing hardening benchmarks to all customers. By incorporating these benchmarks, UpGuard's CSTAR solution builds on its lead in providing the most complete assessment of both internal and external cyber risk. CIS benchmarks are a widely accepted set of hardening guidelines that have been publicly available for years. Numerous solutions exist t...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also co...
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.