JPMorgan will act as financial advisor with respect to Marshall Edwards' strategic alternatives relating to phenoxodiol, and advisor for company business transactions.

CEO and President of Marshall Edwards Inc, Christopher Naughton said "Marshall Edwards is very pleased to have the international and strategic experience of the JPMorgan team involved in the company's corporate development." He said "The company's strategic alternatives for the anti-cancer drug phenoxodiol which is now entering phase III clinical trials is the first of the projects upon which JPMorgan will be offering advice and coordination assistance."

About JPMorgan Securities

JPMorgan is one of the world's largest full service securities firms, and a leading financial and strategic adviser to companies in the pharmaceutical industry. With a full service product offering and operations in over 100 countries, JPMorgan has substantial global experience advising companies with licensing and strategic partnership arrangements.

About Marshall Edwards Inc

Marshall Edwards, Inc. (Nasdaq : MSHL) has licensed rights from Novogen Limited (Nasdaq : NVGN) to bring three oncology drugs  phenoxodiol, NV-196 and NV-143 - to market globally. Marshall Edwards, Inc. is majority owned by Novogen, an Australian biotechnology company. 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 arty 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.

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