MELBOURNE, Australia--(BUSINESS WIRE)--Propanc Biopharma, Inc. (OTC:PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing new cancer treatments for patients suffering from recurring and metastatic cancer, announced today that the first allowance for an important patent family was received from the Australian Patent Office. The allowed claims capture different dosage regimens, including those 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 key patent application, citing proenzyme compositions, is one of four patent families, consisting of 65 patents either in force or pending, and is the first to be allowed covering high doses of two proenzymes trypsinogen and chymotrypsinogen for the treatment of cancer. 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 approval of this key patent application in Australia is a significant step forward for our intellectual property portfolio and is especially important as we prepare for entering the clinic in Australia,” said James Nathanielsz, Propanc’s Chief Executive Officer.
Dr Julian Kenyon, Propanc’s Chief Scientific Officer said, “The aim of our first clinical trial will be to identify the maximum tolerated dose patients with advanced solid tumors, knowing that we continue to expand our intellectual property portfolio as a world first in the cancer field using a novel proenzyme treatment approach, helps build 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
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.