The share price for biotechnology company Novogen looks a little healthier after it completed a licence agreement for Marshall Edwards to develop and commercialise its NV-128 anti-cancer compound. Marshall Edwards, which licences other cancer drugs from Novogen, will make an upfront payment of $US1.5 million ($1.8 million). The outlook for biotechnology is still tough as firms find funding an issue in the downturn, while accelerated merger and acquisition activity among large pharmaceutical firms is having a knock-on effect. Novogen has slowed work on its anti-inflammatory and cardiovascular programs to focus on cancer research in a bid to cut expenses and stretch its financial capacity. Board members and senior executives have taken a pay cut. Close $0.74