Novogen Limited (NVGN) Expands Board With Two New Appointments

SYDNEY, June 3, 2015 /PRNewswire/ -- Australian-US drug discovery and development company, Novogen Limited (ASX:NRT; NASDAQ:NVGN), announced today the appointment of two new non-executive directors to its Board. Mr Bryce Carmine and Mr Ian Phillips will extend the Board to 6 members, inclusive of 5 Non-Executive directors and an Executive Chairman.

Novogen Group Chairman and CEO, Graham Kelly, said, "With the Company now entering a significant growth phase, the Board needed to be expanded to deal with a growing committee workload. But we also recognised a critical need to bring on-board specific skill sets to complement the current Board.

"Bryce Carmine comes with 36 years of experience with one of the world's largest pharmaceutical companies, for much of that time at senior executive level, including being responsible for Eli Lilly's global late-stage drug development pipeline. His understanding of the drug development process and the dynamics of the pharmaceutical industry will be invaluable as the Company works towards its goal of becoming a major global drug discovery and development company across a broad range of therapeutic indications. Bryce will chair the Board's Scientific Committee.

"Ian Phillips comes with a background in wholesale banking at a senior executive level. Experience in strategic planning, economic modelling and financial controls are skills that Ian brings to the Board. Ian will chair the Board's Strategic Planning Committee."

Both directors hold US residency and are domiciled in the US, Bryce in Chicago and Ian in New York. This is a deliberate strategy to reflect the growing presence of the Company in the US and its growing US shareholder base, in addition to the Company's projected business growth in the US. Ian, in particular, will support the Sydney-based CEO in the running of the Company's New York office.

About Bryce Carmine

Bryce Carmine retired from Eli Lilly & Co. as Executive Vice President for Eli Lilly & Co, and President, Lilly Bio-Medicines business unit, which he assumed on Nov. 2009. Prior to the creation of Business Units at Lilly he had been EVP, Global Marketing and Sales and a member of the company's Executive Committee.

In 1999 when Carmine returned to the US from Japan, he held a series of portfolio leadership roles culminating in March 2005 when he was named President, Global Pharmaceutical Product Development, with responsibility for the entire late-phase pipeline development across all therapeutic areas for Lilly.

During his career with Lilly Bryce held several country leadership positions including President Eli Lilly Japan, Managing Director Australia/NZ & General Manager of a joint venture for Lilly in Seoul, Korea.

Born in New Zealand, he received a B.Sc. in biochemistry from Massey University prior to joining Eli Lilly in NZ.

Bryce is currently Chairman & CEO for HaemaLogiX, a newly formed Sydney-based biotechnology company.

About Ian Phillips

Ian M Phillips, MNZM, has been involved with International Banking, global financial markets and Corporate Finance for over 30 years having worked in New York (20 years), London (5 years), Singapore (6 months), Sydney (5 years) and Wellington, NZ (4 years).

Ian is President of KUMARA Inc, Chairman of Nutraceutical and Natural Products AG, Deputy Chairman of the American Australian Association, Immediate Past-President of the American Friends of the National Gallery of Australia, Chairman of American New Zealand Association, an Advisory Board of the US-NZ Council, and a Board member of the American Friends of Christchurch.

Phillips studied at Otago University, University of Colorado and the London School of Economics.

Phillips holds dual USA & New Zealand citizenship.

About Novogen

Novogen is a public, Australian-US drug development company whose shares trade on both The Australian Securities Exchange (NRT) and NASDAQ (NVGN). The Novogen group includes US-based, CanTx Inc, a joint venture company with Yale University. Novogen has two drug technology platforms yielding drug candidates that are first-in-class with potential application across a broad range of degenerative diseases. In the oncology field, the ultimate objective is to see both drug technologies used in combination as first-line therapy across most forms of cancer, with the objective of preventing tumor recurrence. This objective is based on a strategy of achieving comprehensive destruction of the full hierarchy of cells within a tumor with the super-benzopyran technology platform killing the tumor-initiating cells and the anti-tropomyosin technology combining with vinca alkaloids to deliver a potent chemical debulking effect on their daughter cells.

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Corporate Contact

Dr. Graham Kelly
Executive Chairman & CEO
Novogen Group
[email protected]

Media Enquiries
Prue Kelly
Media Officer
Novogen Group
[email protected]

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SOURCE Novogen Ltd