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news.Marshall Edwards has in licensed two oral anticancer drug candidates from its Australian parent company, Novogen. The compounds licensed are NV-196 being developed for pancreatic and bile duct cancer and NV-143 targeted for the treatment of skin cancer.
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The terms of the licenses consist of a single upfront payment to Novogen of $1 million, a series of payments for each compound upon reaching the milestones of US investigational new drug approval, entering human testing at phases II and III and receipt of a new drug application for marketing, and a royalty on sales of 5%.
Marshall Edwards will fund the ongoing clinical programs and is responsible for the commercial development of the drugs.
Marshall Edwards has previously licensed from Novogen the investigational anticancer drug phenoxodiol that currently is in phase II trials for ovarian and prostate cancer.
“The high safety profile and effectiveness that these drugs have demonstrated in preclinical studies, along with our positive clinical experience with the related compound phenoxodiol, auger well for a successful clinical program,” said Professor Graham Kelly, chairman of Marshall Edwards.