MELBOURNE, Australia, July 26, 2018 /PRNewswire/ -- Propanc Biopharma Inc. (OTCQB: PPCB) ("Propanc Biopharma" or the "Company"), a clinical stage biopharmaceutical 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 that the Company has entered national phase for two of its key patent applications from its intellectual property portfolio. The first patent application, which entered national phase in July, describes a method to eradicate cancer stem cells, and a second patent application, covering proenzyme compositions for the treatment of solid tumors, recently completed national phase entry mid-July. National phase is a process whereby applicants file a patent application in each individual jurisdiction or country, according to where intellectual property protection is sought. The Company has filed the patent applications in all major global jurisdictions including the US and Europe, as well as key jurisdictions in Asia and South America. Both cover the Company's lead product candidate, PRP, or use as an anti-cancer stem cell therapy, which is set to enter clinical development.
"I am excited to reach this stage where we are entering national phase for another two key patent applications from our IP portfolio, one covering important composition claims for the PRP formulation, and another describing an innovative method to eradicate cancer stem cells from solid tumors," said Dr. Julian Kenyon, Propanc Biopharma's Chief Scientific Officer. "We have been working with PRP and cancer stem cells for several years and our pre-clinical studies demonstrate that PRP appears to have a significant effect on killing these cells off, which are the main drivers of cancers. This is highly important because killing cancer stem cells reduces the risk of tumor recurrence, clinically."
Further, the Company is working with its advisors, to explore ways to restructure and strengthen the Company's balance sheet to ensure the Company is sufficiently resourced to progress its lead product candidate, PRP, into a first-in-human study in advanced cancer patients.
"We are working diligently with our advisors to identify opportunities to unlock value in our Company and progress towards our next R&D milestone, which is the commencement of clinical development for PRP," said James Nathanielsz, Propanc Biopharma's Chief Executive Officer. "We wish to reassure our shareholders this is our highest priority."
PRP is a solution for intravenous administration of a combination of two pancreatic proenzymes trypsinogen and chymotrypsinogen. Progressing towards a First-In-Human study, PRP seeks to prevent recurrence and metastasis from solid tumors. Eighty percent of cancers are solid tumors and metastasis is the main cause of patient death from cancer. According to the World Health Organization, 8.2 million people died from cancer in 2012. A report by IMS Health states innovative therapies are driving the global oncology market to meet demand, which is expected to reach $150 billion by 2020. The Company's initial target patient populations are pancreatic, ovarian and colorectal cancers, representing an estimated combined market segment of $14 billion in 2020, according to GBI Research.
To view Propanc Biopharma's "Mechanism of Action" video on anti-cancer product candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video
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About Propanc Biopharma:
Propanc Biopharma is a biopharmaceutical company developing new cancer treatments initially 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 candidate 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.
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.
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SOURCE Propanc Biopharma Inc.
Released July 26, 2018