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Noxopharm in grant bombshell

Posted 17 November 2021 PM

Sydney-based Noxopharm is weighing up whether to take legal action against the Department of Industry, Science, Energy and Resources, claiming it was awarded one of the largest grants ever handed out to a biotech for a single drug program -  only to be later told the application was in fact unsuccessful, bringing the company to a trading halt on Monday

In a company document approved by CEO Graham Kelly on behalf of the board of directors, Noxopharm told investors that on 9 November, the Department notified the company "in writing" of its success in securing a $8.79 million grant through the MRFF's Rapid Applied Research Translational initiative.

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