Singapore, Sep 9, 2010: Australia's Novogen has reached agreement in principle with its subsidiary Marshall Edwards, to sell its entire isoflavone-related intellectual property portfolio in a stock-based transaction.

Marshall Edwards is an oncology company focused on the clinical development of novel anti-cancer therapeutics,

Novogen’s Chairman Mr Philip Johnston said that this transaction is consistent with the company’s strategy of strengthening Marshall Edwards as the best vehicle to exploit the isoflavone technology. “Success for Marshall Edwards will flow back to Novogen through its substantial shareholding in that company”.

Marshall Edwards currently has licensed rights from Novogen for oncology drug candidates phenoxodiol, triphendiol, NV-143 and NV-128.

“We believe this is another important milestone for Marshall Edwards,” said Dr Daniel P Gold, President, CEO of Marshall Edwards. “The proposed transaction would enable us to maximize the value of the assets we already have under development as well as explore other potential product candidates within the portfolio.”