MELBOURNE, Australia--(BUSINESS WIRE)--Propanc Biopharma, Inc. (OTC: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel cancer treatments for patients suffering from recurring and metastatic cancer, announced today that the first granted patent for an important patent family (i.e., a set of patents filed in various countries to protect an invention) was received by the Company from the Australian Patent Office. The granted patent protects proprietary claims, capturing methods and uses for pancreatic proenzymes to treat cancer, specifically, by targeting and eradicating cancer stem cells (“CSCs”). CSCs represent only a small fraction of the cancer cells within a tumor and can remain dormant for extended periods of time, thereby evading standard treatments like chemotherapy and radiotherapy that target dividing cells. Consequently, a priority for improving cancer treatment and reducing risk of cancer relapse is to develop new strategies that selectively target CSC eradication whilst sparing normal stem cells. This continues to be the focus of ongoing research, as the Company’s lead product candidate, PRP, advances towards clinical trials for the treatment of patients with advanced solid tumors.
The granted patent, citing the novel CSC treatment method, is one of our four patent families, consisting of 65 patents either in force, or pending, and is the first to be granted covering a method of minimizing the progression of cancer in a patient by administering a therapeutically effective amount of the two proenzymes, trypsinogen and chymotrypsinogen, thereby preventing metastatic, or spreading cancer in the patient. As a result, examination of patent applications in a number of other jurisdictions can be expedited where the Australian claims will be utilized for supplementary examination.
“The advancement of this patent to grant status in Australia is a significant step forward for our intellectual property portfolio and represents a novel therapeutic approach for the treatment and prevention of metastatic cancer by targeting and eradicating cancer stem cells, which is the main cause of death for sufferers,” said James Nathanielsz, Propanc’s Chief Executive Officer. “It is especially important to continue to expand and grow our intellectual property portfolio as we advance PRP to clinical trials.”
“Our main point of difference from other CSC therapies is the ability of our technology to differentiate cancer stem cells back towards normal cell behavior, so they die naturally, rather than directly killing CSCs. This way, we selectively target CSCs, leaving healthy stem cells alone, which means PRP is less toxic compared to standard treatment approaches,” said Dr Julian Kenyon, Propanc’s Chief Scientific Officer. “Expanding our intellectual property portfolio by patenting new inventions using a world first, novel proenzyme treatment approach to target CSCs builds confidence that we are on track with our research.”
About Propanc Biopharma, Inc.
Propanc Biopharma, Inc. (the “Company”) is developing a novel approach to prevent recurrence and metastasis of solid tumors by using pancreatic proenzymes that target and eradicate cancer stem cells in patients suffering from pancreatic, ovarian and colorectal cancers. For more information, please visit www.propanc.com.
The Company’s novel proenzyme therapy is based on the science that enzymes stimulate biological reactions in the body, especially enzymes secreted by the pancreas. These pancreatic enzymes could represent the body’s primary defense against cancer.
To view the Company’s “Mechanism of Action” video on its anti-cancer lead product candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the Company’s ability to continue as a going concern absent new debt or equity financings; the Company’s current reliance on substantial debt financing that it is unable to repay in cash; the Company’s ability to successfully remediate material weaknesses in its internal controls; the Company’s ability to reach research and development milestones as planned and within proposed budgets; the Company’s ability to control costs; the Company’s ability to obtain adequate new financing on reasonable terms; the Company’s ability to successfully initiate and complete clinical trials and its ability to successful develop PRP, its lead product candidate; the Company’s ability to obtain and maintain patent protection; the Company’s ability to recruit employees and directors with accounting and finance expertise; the Company’s dependence on third parties for services; the Company’s dependence on key executives; the impact of government regulations, including FDA regulations; the impact of any future litigation; the availability of capital; changes in economic conditions, competition; and other risks, including, but not limited to, those described in the Company’s Registration Statement on Form S-1, Amendment No. 5, filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 3, 2020, and in the Company’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law.
