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FY17: a year of transformation
"Over the last 12 months Novogen has become a very different company and, your Board believes, a company with a much greater long term potential. There have been changes in our Research and Development (R&D) portfolio, which now includes two clinical-stage assets, as well as changes in our personnel, our organisational culture, and the way we do business.
This is not the Novogen of old."
Iain Ross, Chairman
We're excited to announce that we have a new company name: Kazia Therapeutics Limited!
At our 2017 AGM, our shareholders voted overwhelmingly in support of the proposal to change our company name and relaunch with a new brand identity that better reflects our new business model, strategic intent and company values. A share consolidation was also approved – read more on that at the bottom of this post.
Commenting on the name change, CEO Dr James Garner said, "When Novogen was established over 23 years ago it had a completely different focus to the oncology drug development company that it is now. Our new brand, Kazia Therapeutics, reflects the innovative, focused and agile company that we have become. I am delighted that shareholders voted in support of our new name and future."
The word 'Kazia' is derived from 'Kaizen', a Japanese business philosophy of continuous improvement of working practices and personal efficiency. Click here to read more about the Kazia Therapeutics brand in an introduction document that was sent to shareholders ahead of the AGM.
Over the past 18 months, we have made significant changes to our Research and Development portfolio, which now includes two clinical-stage assets. We've made changes to our personnel, organisational culture and the way we do business. The company's new operating model sees it partner with big pharma to bring undervalued drugs to market more efficiently – a win for both industry and patients in need.
Cantrixil is a locally developed, first-in-class drug candidate which targets the entire spectrum of cancer cells, including tumour-initiating cells thought to cause cancer recurrence. A Phase 1 clinical trial of Cantrixil is underway, with results expected to be released in late 2018. Click here for more on the Cantrixil trial.
Kazia in-licensed GDC-0084 from Genentech in 2016 after a Phase 1 trial returned promising results. A Phase 2 trial is expected to start before the end of 2017. Click here for more on the GDC-0084 trial.
In November 2017, Kazia announced its plans to establish an entity in China to facilitate greater opportunities in the Asia region, as well as a move to out-license some of its preclinical assets to the biotech start-up Heaton-Brown Life Sciences.
"I'm immensely proud of what we have achieved over the past 12-18 months," Dr Garner said. "We are grateful to our shareholders for their long-standing support of the company and look forward to an exciting future together as Kazia Therapeutics."
About our ticker codes and share consolidation
Our ticker codes are in the process of changing ASX: KZA and NASDAQ: KZIA, however due to our share consolidation, our tickers will go through a transitional period. The ASX has advised that the Company will not trade under the new ticker of KZA until 29 November 2017, once the share consolidation has been completed. The Company will trade under the following tickers until that time:
- From 17 November: ordinary shares as NRTDA, options as NRTDB
- On 28 November: ordinary shares as NRT, options as NRTO
- From 29 November: ordinary shares as KZA, options as KZAO