MELBOURNE, Australia--(BUSINESS WIRE)--Propanc Biopharma, Inc. (OTC: PPCBD) (“Propanc”), a biopharmaceutical company developing new cancer treatments for patients suffering from recurring and metastatic cancer, announced today an update on Propanc’s preparation of PRP, its anti-cancer lead product candidate, for clinical trial application submission and its recently completed reverse stock split.
Propanc plans to submit its first clinical trial application in the second half of 2019, followed by commencement of a First-In-Human (“FIH”) study in advanced cancer patients for PRP during the first half of 2020.
Approximately 80% of cancers are from solid tumors and metastasis is the main cause of patient death. PRP targets cancer stem cells which are resistant to standard treatments, remain dormant for long periods, then migrate to other organs, triggering explosive tumor growth and causing patient relapse. PRP is the mixture of two proenzymes (trypsinogen and chymotrypsinogen) from bovine pancreas. A synergistic ratio of these proenzymes inhibits growth of most tumor cells. Efficacy has been shown in pancreatic, kidney, breast, brain, prostate, lung, liver, uterine, and skin cancers. Proenzyme therapy targets cancer stem cells not killed by radiation and chemotherapy. PRP addresses the global, unmet medical need for combating solid tumor recurrence and metastasis.
“To our knowledge, no other cancer drugs, or even cancer stem cell therapies, can make a claim of turning back malignant cells towards becoming benign. Our research has identified proenzymes, supported by nearly 100 years of use and numerous scientific publications supporting proenzymes as a treatment method for numerous inflammatory conditions, as well as cancer, that a synergistic ratio of these proenzymes may regulate cell proliferation as a means to control the growth and spread of malignant tumor cells,” said James Nathanielsz, Propanc’s Chief Executive Officer. “Not only have we seen significant extension of life as a result of PRP demonstrated in a compassionate use study of advanced cancer patients, but almost all of the patients experienced a relief of symptoms without any severe, or even serious side effects from treatment. We are now planning for an FIH study by undertaking full scale manufacturing of PRP for human use and also currently developing a pharmacokinetic method to analyze distribution of PRP from human plasma.”
In addition, Propanc’s 1-for-500 reverse stock split of its shares of common stock was consummated in the market at the open of business on June 24, 2019, and the company’s shares are now trading on the OTCQB on a post-split adjusted price. In connection with the split, Propanc’s trading symbol temporarily changed to “PPCBD.” That “D” in Propanc’s current trading symbol will remain for 20 business days until approximately July 22, 2019, after which the company’s trading symbol will revert to its original symbol, “PPCB”.
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
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. 1, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 14, 2019, 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.