Novogen shares are going nuts on a potent brain cancer drug

Artwork titled My Soul by Katharine Dowson which consists of a laser etched lead chrystal glass formation in the shape of a brain, and was created using the artists own MRI Scan. Dan Kitwood/Getty Images

A drug created by Novogen has been found to be potent against brain cancers, delivering therapy across the difficult blood-brain barrier.

The barrier, the body’s defence mechanism against toxins, prevents most drugs from reaching the brain and is the reason behind poor survival rates for brain cancer.

Eleanor Ager of Novogen says TRXE-009 shows potent killing against a wide range of cancer types in the test tube.

“These are tumors that show high levels of resistance to standard of care drugs, so even if it was possible to get those drugs into the brain, they may not offer clinical benefit,” she says.

“A vital step forward for us was to see whether we could get the drug to cross the blood-brain barrier. Today‚Äôs data shows that it does. The next key step is to confirm that the drug is effective against brain cancer cells growing in the brain.”

Shares in the Australian biotech were up today by more than 12% to $0.275. They are still below a high of $0.45 in April. The price started falling after Novogen announced a $15.5 million capital raising from a private placement with institutional investors in the US.

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