MELBOURNE, AUSTRALIA--(Marketwired - January 11, 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 announced that it received a notification of allowance for its lead patent application from the US Patent Office. The patent application provides broad coverage for a method of treating a solid tumor through administering a pharmaceutical composition comprising a therapeutically effective amount of trypsinogen and chymotrypsinogen to patients.
The allowance of this key patent application is a first in the US, representing a major milestone for the Company as it progresses its lead product, PRP, a solution for once daily intravenous administration of pancreatic proenzymes, towards first-in-man studies in 2017. Further, the Company plans to file a continuation application with the US Patent Office to pursue additional claims based off the initial allowed application.
"An allowance of a key patent application in the US is a significant event in the life of any company, particularly a biotech, and we are delighted to have achieved this milestone which provides broad protection for our lead product, PRP, for the treatment of solid tumors," said James Nathanielsz, Propanc's Chief Executive Officer. "We have filed numerous patent applications around the world in the past 12 to 18 months, with further applications expected. All of this represents a strong result for our shareholders who wait for progression of PRP into first-in-man studies this year. We firmly believe PRP is a new therapeutic approach for the treatment of metastatic cancer from solid tumors, which represents 80% of all cancers, and we are the leaders in this field of technology from an IP perspective, which is very exciting."
The Company's lead product, PRP, is a novel, patented, formulation consisting of two pancreatic proenzymes -- trypsinogen and chymotrypsinogen. Currently in formal preclinical development and 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.
All statements other than statements of historical fact contained herein are "forward-looking statements" for purposes of federal and state securities laws. Forward-looking statements may include the words "may," "will," "estimate," "intend," "continue," "believe," "expect," "plan" or "anticipate" and other similar words. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties including those regarding our earnings, revenues and financial condition, our ability to implement our plans, strategies and objectives for future operations, our ability to execute on proposed new products, services or development thereof, our ability to establish and maintain the proprietary nature of our technology through the patent process, our ability to license from others patents and patent applications, if necessary, to develop certain products, our ability to implement our long range business plan for various applications of our technology, our ability to enter into agreements with any necessary manufacturing, marketing and/or distribution partners for purposes of commercialization, the results of our clinical research and development, competition in the industry in which we operate, overall market conditions, and any statements or assumptions underlying any of the foregoing. Other risks, uncertainties and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the Securities and Exchange Commission, including our reports on Forms 10-K, 10-Q and 8-K. We do not intend, and undertake no obligation, to update any forward-looking statement contained herein, except as required by law.