Propanc Provides Progress Update on Additional Patent Applications
MELBOURNE, AUSTRALIA -- (Marketwired) -- 01/24/17 -- Propanc Health Group Corporation (OTCQB: PPCH) ("Propanc" or "the Company"), an emerging healthcare company focusing on development of new and proprietary treatments for cancer patients suffering from solid tumors such as pancreatic, ovarian and colorectal cancers, today announced an update on the progress of additional pending patent applications, since the recent allowance of the Company's first key patent application in the US this year.
The Company received a written opinion from the International Search Authority regarding the novelty, inventive step and industrial applicability of a recent Patent Cooperation Treaty (PCT) application, filed in November 2016, in Australia. The PCT application titled "Proenzyme composition" is directed to a composition comprising trypsinogen and chymotrypsinogen, targeting specific weight ratios and certain dosage levels for the Company's lead product, PRP. The majority of claims in the written opinion were considered novel and inventive, as determined by the Authorized Officer from the Australian Patent Office. The PCT assists applicants in seeking patent protection internationally for their inventions and can assist national patent offices with their patent granting decisions. By filing one international patent application under the PCT, applicants can simultaneously seek protection for an invention in over 150 countries.
Another patent application filed in Spain in January, 2016, titled "Cancer Treatment", was updated with animal data showing reduced density in tumors excised from mice post treatment with trypsinogen and chymotrypsinogen and as a result, a second application was filed with additional claims regarding a method of minimizing cancer progression, preventing recurrence, or preventing cancer in a subject by either reducing, or controlling the amount of cancer stem cells. The method may also include the step of identifying cancer stem cells in the subject.
"We are making new and exciting discoveries regarding the application of PRP in a clinical setting, which I firmly believe could become a breakthrough product that revolutionizes the way we treat cancer and reduces the threat of this killer disease for many different cancers," said Dr Julian Kenyon, Propanc's Chief Scientific Officer. "I have been treating cancer patients for many years and have seen a number of innovations, particularly with the recent advancements of immuno-oncology. In my opinion, PRP, as a once daily IV administration with minimal toxicity, compared to standard treatments, whilst minimizing the threat of recurrence, or preventing cancer in patients, could become one of the most important discoveries made in the next 20 years."
The Company's lead product, PRP, is a novel, patented, formulation consisting of two pancreatic proenzymes trypsinogen and chymotrypsinogen. Currently in formal preclinical development and progressing towards first-in man studies, PRP aims to prevent tumor recurrence and metastasis in solid tumors. Eighty percent of all cancers are solid tumors and metastasis is the main cause of patient death from cancer. The Company's initial target patient populations include pancreatic, ovarian and colorectal cancers.
To view Propanc's "Mechanism of Action" video on anti-cancer product candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video
To be added to Propanc's email distribution list, please email PPCH@kcsa.com with "Propanc" in the subject line.
About Propanc:
Propanc is developing new cancer treatments for patients suffering from pancreatic, ovarian and colorectal cancers. We have developed a formulation of anti-cancer compounds, which exert a number of effects designed to control or prevent tumors from recurring and spreading throughout the body. Our products involve or employ pancreatic proenzymes, which are inactive precursors of enzymes. In the near term, we intend to target patients with limited remaining therapeutic options for the treatment of solid tumors. In future, we intend to develop our lead product to treat (i) early stage cancer and (ii) pre-cancerous diseases and (iii) as a preventative measure for patients at risk of developing cancer based on genetic screening. For more information, visit: www.propanc.com.
Forward-Looking Statements:
All statements other than statements of historical fact contained herein are "forward-looking statements" for purposes of federal and state securities laws. Forward-looking statements may include the words "may," "will," "estimate," "intend," "continue," "believe," "expect," "plan" or "anticipate" and other similar words. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties including those regarding our earnings, revenues and financial condition, our ability to implement our plans, strategies and objectives for future operations, our ability to execute on proposed new products, services or development thereof, our ability to establish and maintain the proprietary nature of our technology through the patent process, our ability to license from others patents and patent applications, if necessary, to develop certain products, our ability to implement our long range business plan for various applications of our technology, our ability to enter into agreements with any necessary manufacturing, marketing and/or distribution partners for purposes of commercialization, the results of our clinical research and development, competition in the industry in which we operate, overall market conditions, and any statements or assumptions underlying any of the foregoing. Other risks, uncertainties and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the Securities and Exchange Commission, including our reports on Forms 10-K, 10-Q and 8-K. We do not intend, and undertake no obligation, to update any forward-looking statement contained herein, except as required by law.
Investor Contacts:
KCSA Strategic Communications
Philip Carlson / Elizabeth Barker
propanc@kcsa.com
Media Contacts
Jon Goldberg / Lisa Lipson
propanc@kcsa.com
Source: Propanc Health Group Corporation
Released January 24, 2017