8:15AM Novogen launches joint venture aimed at developing drugs to fight ovarian cancer (NVGN) 6.00 : Co announced a joint venture with Yale University dedicated to developing personalized approaches to chemotherapy to fight ovarian cancer. The joint venture, which will be based near Yale's campus in New Haven, CT, will be known as CanTx, Inc. Novogen will own 85% of the new company and Novogen CEO Graham Kelly, PhD will be CEOoft the new joint venture as well.
The CanTx Board will be comprised of directors representing both Novogen and Yale. CanTx will assume responsibility for advancing Novogen's super-benzopyran drug technology into the clinic for the treatment of ovarian cancer.
CanTx's first development candidate, designed to seek out cancer cells and deliver a payload of a Novogen drug that has been shown to be highly cytotoxic against ovarian cancer cells including ovarian cancer stem cells, is expected to enter clinical studies in 2014. The investigational product will be administered intra-peritoneally to women with ovarian cancer.
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