AsiaNet 65152

SYDNEY, Australia, July 20, 2016 /Medianet International-AsiaNet/--
 

* Noxopharm is a clinic-ready Australian biotech with a current focus on a drug product technology offering the possibility of less-damaging chemotherapy for cancer patients and those who are unable to tolerate standard treatments, and also for patients with cancers such as pancreatic cancer where survival prospects remain poor. * IPO raised $A6 million - strongly supported by institutional, retail and high net worth investors along with general public investors with an interest to see a change in current standard of-care cancer treatments * ASX - Listing date to be advised * APP Securities was the Lead Manager of the IPO * Funds raised from IPO will see the Company's first already planned Phase 1a and 1b clinical trial initiated, along with progression of other projects in the Research and Development pipeline * Noxopharm has a highly-experienced management and scientific team who understand the importance of the current outlook for cancer patients, and the role of share-holders in a listed company Noxopharm Limited CEO, Professor Graham Kelly, commented on the IPO closure, "We are very pleased at the level of interest and support in the IPO and we are firmly focused on using these funds to commence the first clinical trial in patients with late-stage cancers. We thank everyone involved in the IPO process and I personally welcome the first Noxopharm shareholders aboard." (http://www.noxopharm.com) About Noxopharm Noxopharm is an Australian-based drug development company with offices in Melbourne and Sydney. It intends to focus on two areas of drug technology. The first is the potential benefit to cancer patients in being able to increase their responsiveness to standard of care chemotherapies and radiotherapies. NOX66 is the first pipeline drug candidate, with later generation drug candidates under investigation in an R&D program. The second area relates to the technology behind NOX66 and the opportunity it offers to exploit the broader therapeutic opportunities of isoflavonoid compounds. Forward Looking Statements This press release may contain forward-looking statements. You can identify these statements by the fact they use words such as "aim", "anticipate", "assume", "believe", "continue", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "plan", "should", "target","will" or "would" or the negative of such terms or other similar expressions. Forward-looking statements are based on estimates, projections and assumptions made by Noxopharm about circumstances and events that have not yet taken place. Although Noxopharm believes the forward-looking statements to be reasonable, they are not certain. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond Noxopharm’s control that could cause the actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statement. No representation, warranty or assurance (express or implied) is given or made by Noxopharm that the forward-looking statements contained in this press release are accurate and undue reliance should not be placed upon such statements. The forward-looking statements included in this press release speak only as of the date of this press release. Noxopharm does not intend to update the forward-looking statements in this press release in the future Noxopharm Limited. Suite 1, Level 6, 50 Queen St, Melbourne VIC 3000 SOURCE: Noxopharm Limited  --BERNAMA