The glucan technology assets which Novogen currently holds will not be acquired by Kai Medical in the merger and Novogen plans to complete the sale of those assets to TR Therapeutics, Inc., a privately held, US corporation, in the next few days.
Novogen expects to provide shareholders with full details of the merger proposal and in specie distribution within the next three weeks. The shareholders meeting is expected to be held in mid September.
Novogen Limited will be renamed to Kai Medical Holdings Limited when the merger becomes effective.
About Novogen LimitedNovogen Limited is an Australian biotechnology company based in Sydney, Australia. Novogen conducts research and development on oncology therapeutics through its subsidiary, MEI Pharma, Inc. More information on the Novogen group of companies can be found at www.novogen.com. About Kai Medical, Inc. Kai Medical develops and markets medical devices for sleep apnea therapy and devices to measure and monitor respiration wirelessly, with no contact, and from a distance. Kai Medical is based in Honolulu, Hawaii USA. More information on Kai Medical can be found at www.kaimedical.com. SOURCE Novogen