MELBOURNE, Australia--(BUSINESS WIRE)--Propanc Biopharma, Inc. (OTCQB: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel cancer treatments for patients suffering from recurring and metastatic cancer, today announced that a Notice of Allowance has been received from the European Patent Office (EPO) for claims involving compositions of proenzymes to treat cancer. This is the Company’s second patent application allowed in this jurisdiction and expires in November, 2036. A third patent application is currently under examination at the EPO for a method to treat cancer stem cells, which was allowed in March this year by the US Patent and Trademark Office (USPTO).
The field of the invention covers future dosing in planned clinical studies for the Company’s lead product candidate, PRP. The allowed patent, citing proenzyme compositions to treat cancer, comprising trypsinogen and chymotrypsinogen at specific higher dosage ratios than the Company’s original foundation patent, will enable the Company to cover higher doses in a planned, Phase I, First-In-Human study in advanced cancer patients. It is believed that increased exposure at higher doses may result in better therapeutic efficacy.
Currently, the Company’s growing IP portfolio consists of 65 patents either in force, or currently under examination in global jurisdictions. As a result of the EPO allowance, the number of patents in the portfolio is expected to increase as the Company validates the allowed patent in selected individual countries within the EU region. The Company also plans to file additional patent applications based on recent scientific discoveries through the Company’s joint research partnerships in the near future, centered on composition, method of use and process development claims.
“The advancement of our growing IP portfolio is a reflection of our tireless efforts over the last decade into research and development of proenzymes as an effective tool to treat cancer,” said Mr. James Nathanielsz, Propanc’s Chief Executive Officer. “As we progress towards a First-In-Human study in advanced cancer patients, it is important to ensure adequate protection of our invention, which holds significant value for shareholders, as we continue to expand in this novel field. PRP is an exciting new approach to treat and prevent metastatic cancer by targeting and eradicating cancer stem cells (CSCs), which remains the biggest cause of death for sufferers. By targeting CSCs and leaving healthy cells alone, it may also be free from the side effects normally associated with standard treatments, which will be significant for patients and their loved ones. We remain dedicated to this cause.”
PRP is a mixture of two proenzymes, trypsinogen and chymotrypsinogen from bovine pancreas administered by intravenous injection. A synergistic ratio of 1:6 inhibits growth of most tumor cells. Examples include kidney, ovarian, breast, brain, prostate, colorectal, lung, liver, uterine and skin cancers.
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 periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. 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.
