NOVOGEN TO ESTABLISH CHINA ENTITY TO FURTHER COMMERCIALISATION AND PARTNERSHIPS IN WORLD’S SECOND-LARGEST PHARMACEUTICAL MARKET
Sydney, 13 November 2017 – Novogen Ltd (ASX: NRT; NASDAQ: NVGN), an Australian oncology drug development company, announces today that it has entered into a Letter of Intent with Cedrus Investments Ltd for advisory services in order to establish a corporate structure focused on expansion into the Greater China region.
• Following initial face-to-face discussions with third parties in China, Novogen has signed Letter of Intent with Cedrus Investments, a leading specialist investment bank based in Hong Kong, for advisory services in order to establish a corporate structure and operations in the People’s Republic of China
• Novogen entity will be a Wholly Foreign Owned Enterprise (WFOE), initially with minimal infrastructure, to serve as administrative unit for China expansion
• Key objective will be to further explore partnerships and commercialization opportunities in China over a medium- to long-term horizon
• China is the world’s second-largest pharmaceutical market, with approximately US$ 116.7 billion in annual sales, and an annual growth rate of 12.4% (per QuintilesIMS Market Prognosis, October 2016)
The new corporate entity will enable Novogen to interact directly with the Chinese Food and Drug Administration (CFDA) for future clinical trials of its pipeline in China, and will facilitate potential partnering and investing opportunities for the company.
The Letter of Intent defines the key terms of the proposed establishment, with most of the work expected to be conducted in the first half of calendar 2018, subject to execution of definitive agreements. It is expected that the Chinese entity will be a Wholly Foreign Owned Enterprise (WFOE), headquartered in Shanghai.
Novogen CEO, Dr James Garner, commented, “China is a key market for pharmaceutical companies, and over the last few months we have been actively exploring opportunities to engage with Chinese companies, researchers, and investors to support the development of Novogen’s current and future pipeline there. The team at Cedrus Investments have been helping global companies best position themselves to identify and work with investors and business partners in the Greater China region, and are highly experienced in navigating the complex regulatory requirements in China. We are pleased to be working with them on this important project. The new corporate structure will put us in a stronger position to capitalize on opportunities in China over the medium term.”
In addition to its Australian operations and the intended China operation, Novogen also has a US-based corporate entity, Novogen North America, Inc.
The significance of a clean economy
Clean technology is based on the principles of biology, resource efficiency and second generation concept in basic industries.
The concept of clean technology refers to any process, product or service that helps to improve energy efficiency, sustainable use of resources or active environmental protection. This technology is very widespread, it is related to recycling, renewable energy, green transport, green chemistry and much more.
The clean technology is oriented to the transfer of energy sources from coal or other fossil fuels to solar power sources or hydroelectric power plants. It can be said that clean technology projects are actually renewable energy projects with good predispositions for future widespread use. Also, the goal is to reduce the total carbon emissions in the air so that the environment would be cleaner.
Rani Jarkas, who has a successful experience in the field of life sciences, points out that it is important to invest in clean technology, in order to achieve a better quality of life for all living beings on the planet.
SHANGHAI, 14th November 2017 – Cedrus Investments (“Cedrus”), a global boutique
investment firm, hosted the second meeting of the life sciences luncheon series for this year on Monday, 13th November 2017 in Shanghai at the St. Regis Shanghai Jingan. Mr. Randy Hice, Cedrus’ Chief Technical Officer and Member of the Life Sciences Advisory Board, shared with institutional investors, venture capitalists, and company executives his insights on two crucial themes in biotechnology: “New Frontiers in Immunology R&D” and “Increasing Laboratory Productivity and Meeting FDA Compliance through Software”.
Mr. Hice is recognized globally as a leading authority in laboratory informatics and the most published author in the world on topics of complex laboratory automation and workflow analysis. His recent positions included the CEO of Laboratory Expertise Center, Inc. and Manager of Global Strategy at Abbott Informatics, a division of Abbott Laboratories.
The event was well received, and elicited high-level discussion in the Q&A session following Mr. Hice’s speech. Investors thought that it was especially important to understand the very latest developments in the biotech industry, as well as the overseas regulatory environment in order to conform to international conventions. Those attended the luncheon included executives from Fountainvest Partners, Franklin Templeton Sealand, Qiming VC, and SAIF Partners.
Cedrus’ Chief Technical Officer, Mr. Randy Hice said, “I am glad to be able to share the
latest trends in immunology research and development with investors and companies, as well as providing some perspectives on how progressive scientific enterprises are utilizing the latest tools available to improve their data quality while achieving FDA compliance. The feedback from the event’s participants provided us with a better understanding of the active areas of interest from Chinese life sciences investors and companies, and that understanding will no doubt facilitate future cooperation regarding cross-border transactions and investment opportunities.”
Cedrus’ Chairman, Mr. Rani Jarkas said, “With its particular focus on the Greater China region, Cedrus has always positioned itself as a leader in fulfilling the needs of the investment community and companies around the world. Given our global network and expertise in the life sciences industry, we can serve as the platform for both investors and companies worldwide, facilitating both inbound and outbound investments for the Chinese and other geographical markets.”