Novogen says the results of the meeting of shareholders -
biotechnology company Australia-US Novogen Ltd (ASX: NRT NASDAQ: NVGN), a development company drugs in oncology and degenerative diseases, today announced the results of its general meeting of shareholders held on August 12 in Sydney, Australia. A total of 28.3 shares were represented in person or by proxy at the meeting, at which the following resolutions were adopted (95% in favor):
RESOLUTION 1. APPROVAL sUBSEQUENT CONVERSION SHARE ISSUE
"that, for the purposes of registration rule 7.1 and for all other purposes, subsequent approval is given under listing rule 7.4 to the allotment and issue of the shares of conversion as described in the explanatory memorandum. "
RESOLUTION 2. aPPROVAL GRANTED thE dE NEW sHARES aND sUBSCRIPTION wARRANTS ATTACHED dE
"That, for the purposes of registration rule 7.1 and Article 50.1 of the Constitution of the Company and for all other purposes, approval is given to increasing the share capital by issuing a maximum of 80 million new shares and up to 80 million warrants attached to the Company to increase to approximately $ 20 million as described in the explanatory memorandum. "
Graham Kelly Ph.D., CEO Novogen Group and Executive Chairman, said:" These two resolutions are to provide the Commission with the ability to increase working capital Novogen needs to implement 3 drug candidates into the clinic. the approved resolutions now give the Council the flexibility to adapt capital-raisings to specific requirements depending when capital is needed and in response to market conditions. "
"the first product that we must support is Cantrixil, the results Novogen-Yale joint venture, currently CanTX Inc., makes us ready product to the clinic in order to conduct a Phase 1 trial in women with advanced ovarian cancer in the United States by mid-2015. "
" is the second product Trilexium, a drug candidate under development for the treatment of neural cancers such as glioblastoma and other primary brain cancers in adults and children. This is part of a global initiative called MINDTrx (Multi-Centre Initiative for the development of Trilexium), and is being prepared to enter a Phase 1 trial in patients with glioblastoma in Australia once again to the mid-2015. "
" Our anti-tropomyosin (ATM) drug program has progressed faster than we had originally planned and with an excellent opportunity to move into the clinic in 2015. While drugs super-benzopyran candidates are exciting because they show for the first time a realistic possibility for treating cancer in its early stages, the possibility ATM drug is destroying the cytoskeleton globally about the cancer cell to a level not reached before offering probably a cytotoxic effect on a range of common cancers. This will be the third drug to enter the clinic with advanced prostate cancer targeted clinical indication, "added Kelly.
Immediately after the general meeting, a briefing was held for shareholders and the public Describing R & D Company, clinics and growth strategies. the information meeting was video recorded and will be available on the website of the Company at the close of business Monday, 18 August
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