Kazia Therapeutics sells stake in Noxopharm

Kazia Therapeutics Limited (ASX: KZA; NASDAQ: KZIA), an Australian oncology-focused biotechnology company, is pleased to announce that it has entered into an arrangement to sell the remainder of its holding in the ordinary shares of Noxopharm Limited via a single block trade. Kazia expects the transaction to yield proceeds of approximately $2.1m, bringing the total gross proceeds from sale of our holding to approximately $2.4m.

The proceeds of the transaction will be applied to Kazia’s own R&D programs, each of which will be yielding important data read-outs in Q2 calendar 2019. Kazia retains 3 million unlisted options in Noxopharm, with an exercise price of $0.80.

About Kazia Therapeutics Limited (ASX: KZA; NASDAQ: KZIA)

Kazia Therapeutics is an innovative oncology-focused biotechnology company, based in Sydney, Australia. Our pipeline includes two clinical-stage drug development candidates, and we are working to develop therapies across a range of oncology indications.

Our lead program is GDC-0084, a small molecule inhibitor of the PI3K / AKT / mTOR pathway, which is being developed to treat glioblastoma multiforme, the most common and most aggressive form of primary brain cancer in adults. Licensed from Genentech in late 2016, GDC0084 entered a phase II clinical trial in March 2018. Initial data is expected in early calendar 2019. GDC-0084 was granted orphan designation for glioblastoma by the US FDA in February 2018.

TRX-E-002-1 (Cantrixil), is a third-generation benzopyran molecule with activity against cancer stem cells, and is being developed to treat ovarian cancer. TRX-E-002-1 is currently undergoing a phase I clinical trial in Australia and the United States. Initial data was presented in June 2018 and the study remains ongoing. Cantrixil was granted orphan designation for ovarian cancer by the US FDA in April 2015.

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