SYDNEY, Nov. 6, 2013 /PRNewswire/ -- Novogen Limited (Australian Securities Exchange: NRT and NASDAQ: NVGN), an Australian biotechnology company dedicated to developing drugs that provide long-term remission through the successful control of cancer stem cells, today 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.
"There have been no new therapies for ovarian cancer in the last 30 years and a fresh approach is urgently needed," said Gil Mor, M.D., Ph.D., Professor of Obstetrics and Gynecology and Reproductive Science at Yale University School of Medicine. "Current chemotherapy unfortunately only does half the job. It is reasonably effective at killing the predominant somatic cancer cells, but by not killing the source of the cancer, the cancer stem cells, the cancer is highly likely to recur."Dr. Mor, who will co-lead clinical development efforts for CanTx, is the first researcher in the world to isolate ovarian cancer stem cells, the cells responsible for the initial growth of ovarian tumors and their recurrence following chemotherapy.