MELBOURNE, AUSTRALIA--(Marketwired - April 13, 2017) - Propanc Health Group Corporation (OTCQB: PPCH) ("Propanc" or "the Company"), an emerging healthcare company focusing on development of new and proprietary treatments for cancer patients suffering from solid tumors such as pancreatic, ovarian and colorectal cancers, today provided an update on the Company's recently announced reverse split of issued and outstanding shares of common stock, as well as anticipated Company milestones and upcoming corporate events. Presently, the Company is waiting for FINRA to complete its standard review of the proposed corporate action, which the Company expects to be completed soon. The Company plans to effectuate the reverse split as soon as FINRA has completed its review.
In addition, the Company is currently compiling results from the recent 28-day GLP-compliant toxicity study for its lead product, PRP, and completing histopathology and biochemistry assessments to determine the toxicological effects of PRP at different dosing intervals. Overall indications suggest that identification of a safe starting dose for First-In-Man studies is possible.
"We appreciate the patience of our shareholders as we work closely with FINRA towards their approving the reverse split, which we are confident will better position the Company for an up-listing to a national stock exchange, thus maximizing value for shareholders," said James Nathanielsz, Propanc's Chief Executive Officer. "Also, we are evaluating final results after completion of our 28-day GLP toxicity study, which we expect to announce soon. As a result of the anticipated completion of this important milestone, we remain very excited about our Company's future prospects. We look forward to updating shareholders as we turn our attention towards key development activities to support preparation and submission of a clinical trial application for First-In-Man studies for PRP later this year."
In further news, as a result of recent milestones achieved, positive progress with the development of PRP and latest announcement regarding the proposed corporate restructure, Mr Nathanielsz will be attending an upcoming European Small Cap Investor Conference in Paris on April 18 and 19, 2017, involving one on one meetings between institutional investors and listed companies throughout Europe, USA and Asia Pacific. Numerous requests have been made to meet with Mr Nathanielsz, including European and French Asset Managers and Family Offices, interested to find out more about the Company's future plans. The London Stock Exchange Group is one of the event's main sponsors, with over eighty listed companies and two hundred investors participating, hosted by CF&B Communication.
Mr Nathanielsz commented, "We have fielded strong interest from investors to meet with our Management Team and discuss future plans in more detail, which is why we decided to attend. We have close ties in Europe through our Research Partners, Propanc's Executives, and of course, our plans to undertake clinical trials for PRP in the region. Outside the USA, the European Union represents the largest pharmaceutical market in the world, which is also of great interest to us."
The Company's lead product, PRP, is a novel, patented, formulation consisting of two pancreatic proenzymes, trypsinogen and chymotrypsinogen. Currently progressing towards First-In-Man studies, PRP aims to prevent tumor recurrence and metastasis in solid tumors. Eighty percent of all cancers are solid tumors and metastasis is the main cause of patient death from cancer. The Company's initial target patient populations include pancreatic, ovarian and colorectal cancers.
To view Propanc's "Mechanism of Action" video on anti-cancer product candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video
To be added to Propanc's email distribution list, please email PPCH@kcsa.com with "Propanc" in the subject line.
Propanc is developing new cancer treatments for patients suffering from pancreatic, ovarian and colorectal cancers. We have developed a formulation of anti-cancer compounds, which exert a number of effects designed to control or prevent tumors from recurring and spreading throughout the body. Our products involve or employ pancreatic proenzymes, which are inactive precursors of enzymes. In the near term, we intend to target patients with limited remaining therapeutic options for the treatment of solid tumors. In future, we intend to develop our lead product to treat (i) early stage cancer and (ii) pre-cancerous diseases and (iii) as a preventative measure for patients at risk of developing cancer based on genetic screening. For more information, visit: www.propanc.com.
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