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Novogen raises funds to progress cancer drugs to the clinic

Novogen raises funds to progress cancer drugs to the clinic

Novogen (ASX:NRT) has raised $1,795,000 through its ASX bookbuild capital raising priced at $0.11 per share to progress its programs and consider a range of other funding offers.

The company also expects to soon receive a $1.45 million research and development tax rebate.

In August, the company received shareholder approval to issue 80 million shares and 80 million options.

The ASX bookbuild was conducted on this basis, resulting in the issue of 16,318,184 shares.

Each share comes with an attached 1 year unlisted options with an exercise price of $0.125.

Novogen has developed four new chemotherapy drugs and is now focused on bringing them into the clinic.

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Novogen Ltd Timeline

August 05 2015

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