Contact Information: Contacts: David Sheon 202 422-6999 Christopher Naughton 011 61 2 9878 0088
Marshall Edwards, Inc. Joins Russell 3000(R) Index
| Source: Marshall Edwards, Inc.
NEW CANAAN, CT--(Marketwire - June 26, 2008) - Marshall Edwards, Inc. (NASDAQ : MSHL ), a
clinical-stage biotechnology company developing a new class of oncology
drugs known as "multi-signal transduction regulators," today announced that
it is soon to be included in the Russell 3000® Index, according to a
preliminary list of additions recently posted on www.russell.com. Marshall
Edwards, Inc.'s addition to the broad market Russell 3000® Index, which
remains in place for one year, means automatic inclusion in the Russell
2000® Index. The 2008 reconstitution of the Russell indexes will take
place after the market closes on June 27, 2008.
"With our lead drug candidate phenoxodiol in a pivotal phase III trial for
recurrent ovarian cancer, the Russell 3000® Index has recognized our
potential," said Christopher Naughton, President and Chief Executive
Officer. "Marshall Edwards, Inc.'s inclusion in the Russell 3000® Index
offers us visibility to more investors."
The Russell 3000® Index measures the performance of the largest 3,000
U.S. companies based on total market capitalization, representing
approximately 98% of the investable U.S. equity market according to Russell
Investments. The Russell 2000® Index is a subset of the Russell 3000®
Index representing approximately 10% of the total Market capitalization of
that index and includes approximately 2,000 of the smallest securities
based on a combination of their market capitalization and current index
membership in the Russell 3000® Index.
About phenoxodiol:
Phenoxodiol is being developed as a chemosensitizing agent in combination
with platinum drugs for late stage, chemoresistant ovarian cancer and as a
monotherapy for prostate and cervical cancers. It has a unique mechanism
of action, binding to cancer cells via a cell membrane oxidase, causing
major downstream disturbances in expression of proteins necessary for
cancer cell survival and responsible for the development of drug
resistance.
In cancer cells, phenoxodiol appears to selectively inhibit the regulator
known as S-1-P (sphingosine-1-phosphate) that is overexpressed in cancer
cells. In response to phenoxodiol, the S-1-P content in cancer cells is
decreased, with a consequent decrease in expression of the pro-survival
proteins XIAP and FLIP, rendering those cells more sensitive to
chemotherapy. Indeed, in laboratory studies, it has been demonstrated that
drug-resistant ovarian cancer cells
pre-treated with phenoxodiol were killed with lower doses of chemotherapy
drugs.
Importantly, phenoxodiol has been shown not to adversely affect normal
cells in animal and laboratory testing.
Phenoxodiol is being investigated as a therapy for late-stage,
chemoresistant ovarian, prostate and cervical cancers. Phenoxodiol has
received Fast Track status from the FDA to facilitate its development as a
therapy for recurrent ovarian and prostate cancers.
Phenoxodiol is an investigational drug and, as such, is not commercially
available. Under U.S. law, a new drug cannot be marketed until it has been
investigated in clinical trials and approved by FDA as being safe and
effective for the intended use.
Phenoxodiol is the first of a family of compounds in the Marshall Edwards,
Inc. drug pipeline of flavonoid derivatives.
About Marshall Edwards, Inc.:
Marshall Edwards, Inc. is a specialist oncology company focused on the
clinical development of novel anti-cancer therapeutics. These derive from
a flavonoid technology platform, which has generated a number of novel
compounds characterized by broad ranging activity against a range of cancer
cell types with few side effects. The combination of anti-tumor cell
activity and low toxicity is believed to be a result of the ability of
these compounds to target an enzyme present in the cell membrane of cancer
cells, thereby inhibiting the production of
pro-survival proteins within the cell. Marshall Edwards, Inc. has licensed
rights from Novogen Limited (ASX : NRT ) (NASDAQ : NVGN ) to bring three
oncology drugs -- phenoxodiol, triphendiol and NV-143 -- to market
globally. The Company's lead investigational drug, phenoxodiol, is in a
Phase III multinational multi-centered clinical trial for patients with
recurrent ovarian cancer. More information on the trial can be found at
http://www.OVATUREtrial.com.
Marshall Edwards, Inc. is majority owned by Novogen Limited (ASX : NRT )
(NASDAQ : NVGN ), an Australian biotechnology company that is specializing in
the development of therapeutics based on a flavonoid technology platform.
Novogen is developing a range of therapeutics across the fields of
oncology, cardiovascular disease and inflammatory diseases. More
information on phenoxodiol and on the Novogen group of companies can be
found at www.marshalledwardsinc.com and www.novogen.com.
Under U.S. law, a new drug cannot be marketed until it has been
investigated in clinical trials and approved by the FDA as being safe and
effective for the intended use. Statements included in this press release
that are not historical in nature are "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. You should be aware that our actual results
could differ materially from those contained in the forward-looking
statements, which are based on management's current expectations and are
subject to a number of risks and uncertainties, including, but not limited
to, our failure to successfully commercialize our product candidates; costs
and delays in the development and/or FDA approval, or the failure to obtain
such approval, of our product candidates; uncertainties in clinical trial
results; our inability to maintain or enter into, and the risks resulting
from our dependence upon, collaboration or contractual arrangements
necessary for the development, manufacture, commercialization, marketing,
sales and distribution of any products; competitive factors; our inability
to protect our patents or proprietary rights and obtain necessary rights to
third party patents and intellectual property to operate our business; our
inability to operate our business without infringing the patents and
proprietary rights of others; general economic conditions; the failure of
any products to gain market acceptance; our inability to obtain any
additional required financing; technological changes; government
regulation; changes in industry practice; and one-time events. We do not
intend to update any of these factors or to publicly announce the results
of any revisions to these forward-looking statements.