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Novogen Acquires Privately-held Glioblast for AU$2.1M in Cash, Stock, Plus Milestones

Novogen Ltd (NASDAQ: NVGN) today announced that it has fully-acquired Glioblast Pty Ltd, a privately-held, neuro-oncology-focused Australian biotechnology company.

The transaction includes an upfront payment of AU$ 2.1 million, comprising AU$ 600,000 in cash and ordinary fully-paid shares valued at AU$ 1.5 million, with the actual number of shares determined on the basis of the volume-weighted average price of Novogen shares on the ASX in the seven days prior to this announcement.

The shareholders of Glioblast will be...