MELBOURNE, Australia--(BUSINESS WIRE)--Propanc Biopharma, Inc. (OTC: PPCB) (“Propanc”), a biopharmaceutical company developing new cancer treatments for patients suffering from recurring and metastatic cancer, announced today that it has received a granted US patent from the United States Patent and Trademark Office (USPTO) covering composition of matter claims involving trypsinogen and chymotrypsinogen. The additional composition claims are a continuation from the original foundation patent in the U.S., and as a result, both method of treatment and composition claims now protects the Company’s lead product candidate, PRP, a pharmaceutical composition consisting of two proenzymes, trypinsogen and chymotrypsinogen, for treating cancer.
The granted patent issued by the USPTO now confers exclusive rights to the Company’s lead product, PRP, by demonstrating that compositions comprising trypsinogen and chymotrypsinogen exhibit a synergistic ability to inhibit the growth of various cancer cell lines.
“We continue to grow and strengthen our intellectual property portfolio and it is pleasing to receive additional patent claims for PRP in one of our most important global jurisdictions,” said James Nathanielsz, Propanc’s Chief Executive Officer. “Presently, we have 65 patents either in force, or pending, in major global regions around the world, and this is very significant as we advance PRP towards human trials.”
“We continue to fund research programs with our university partners, and plan to file additional patent applications in the future,” said Dr Julian Kenyon, Propanc’s Chief Scientific Officer. “Intellectual property lies at the heart of any early stage Biotech company and we look forward to expanding our portfolio covering further aspects of our invention related to PRP, especially as we advance further down the clinical development pathway.”
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.