MELBOURNE, Australia--(BUSINESS WIRE)--Propanc Biopharma, Inc. (OTC Pink: PPCBD) (“Propanc” or the “Company”), a biopharmaceutical company developing novel cancer treatments for patients suffering from recurring and metastatic cancer, today announced the Company’s strategic pharma partnering initiative, as its lead product candidate, PRP, advances towards a Phase I, First-In-Human (FIH) study in advanced cancer patients. Over the past several years, management has initiated discussions with potential strategic collaborators to provide the resources to advance PRP into clinical development and for future commercialization. These include Australia’s largest cancer research institute, a merged group of hospitals located in the Andalusian region of Spain and a multi-billion-dollar, global, biomedical company with over 50,000 employees. The strategic goal of these potential collaborations is to develop and commercialize PRP for the treatment and prevention of metastatic cancer from solid tumors in major pharmaceutical markets worldwide.
Australia’s largest cancer research institute, the Peter MacCallum Cancer Center, is dedicated to caring for people affected by cancer with over 3,300 staff, including 750 laboratory and clinical researchers, all focused on providing better treatments, better care and potential cures for cancer. Initial discussions have taken place with a principal investigator, and will recommence upon final drug manufacture of PRP for the upcoming clinical study.
Discussions have also taken place with clinical trial investigators at Jaén University Hospitals, in the Andalusian region of Spain. After consideration of scientific literature supporting the use of PRP to prevent recurrence and metastasis of solid tumors, two clinical oncologists from Jaén University Hospital confirmed their interest in evaluating the performance of PRP on behalf of their institution. The Company will consider the conduct of Phase II proof of concept studies, most likely for pancreatic and ovarian cancers, in this region of Spain as possible multi-trial centers to accommodate larger patient numbers.
Finally, market outreach activities have been undertaken by the Company at several different stages of development of PRP to assess the interest in possible strategic partnering of the Company’s lead asset for global pharmaceutical markets. The most recent and encouraging discussion was held with a Vice President, Global Head Search and Evaluation from a top ten, global, biomedical company who expressed a desire to review clinical results from randomized, controlled clinical studies, as PRP enters the next stage of development. The management team at Propanc expects to present interim results after the first 3 months of the Phase I, FIH study in approximately 30 to 40 advanced cancer patients at the Peter MacCallum Cancer Center in Melbourne, Australia. Several other major companies were approached and Propanc expects to resume discussions during the next stage of clinical development for PRP.
James Nathanielsz, BAS, MEI, Propanc’s Chief Executive Officer, said, “Our vision is to deliver a long-term therapy for the treatment and prevention of metastatic cancer from solid tumors, by targeting and eradicating cancer stem cells, free from the side effects normally associated with standard treatment approaches. Metastatic cancer is the leading cause of death for sufferers. We continue to expend every effort to find the best strategic partners for the global commercialization of PRP.”
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
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the strategic partnerships and planned studies described above and the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary business partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the SEC.
