KZA 1.09% 93.0¢ kazia therapeutics limited

novogen picks up another patent

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    Novogen picks up another patent
    January 16, 2003
    Red clover used for isoflavones Novogen Limited (NRT) nosed higher on Thursday after receiving a US patent for human dietary supplements from a ground soy compound. The company also revealed that it had received a $2.3 million milestone royalty payment in early January under a licensing deal with the giant US company DuPont.

    DuPont recently announced the formation of a 70% joint venture with Bunge which has an expected initial annual revenue of US$800 million and which will include the further development of soybeans with improved quality traits.

    “It is within this joint venture that the Novogen US patent licence for soy will operate,” explained Novogen.

    The Australian company explained said the patent granted extends the cover for soy to include soy hypocotyls, which are a source of isoflavones which might have health claims attached. Novogen uses red clover which are the richest source of isoflavones as the basis for its dietary supplement products Promensil, Rimostil and Trinovin.

    Novogen receives milestone and royalty payments under the licence agreement but the company did not provide any details regarding further payments.

    At 1342 AEST Novogen shares were trading 16c higher at $3.54.

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