Propanc Announces Latest Company Initiatives
MELBOURNE, Australia, Jan. 13, 2015 /PRNewswire/ -- Propanc Health Group Corporation (OTCPK: PPCH) ("Propanc" or "the Company"), an emerging healthcare company that focuses on the development of new and proprietary treatments for cancer patients, today announced a summary of the Company's recent activities that position the company for planned future growth this year.
The Company and its Directors continue to expend their efforts creating value by completing its patent filings around the world. Late last year, the Company's patent attorneys held initial discussions with examiners from the US Patent and Trademark Office, seeking approval of pending claims covering its novel product candidates, PRP and PRP-DCM.
Further, the Company continues to refine its planned development pathway for its lead product, PRP, to better understand its mode of action, how it moves and breaks down in the body, its effectiveness in inhibiting metastases and associated biological markers, as well as prolonging survival in animals. The data from these pivotal animal studies will be used to support its planned pre-IND (Investigational New Drug) meeting with the FDA, prior to undertaking formal IND-enabling studies to support entry into Phase I human trials. The Company will also use this data to commence marketing efforts to potential licensing suitors, such as Big Pharma, Biotechs and Specialty Pharma Companies. Such licensing deals can often attract significant upfront and milestone payments, as well as future royalties from the sales of an approved product.
"As we continue to complete these small, but important undertakings, we continue to increase our knowledge and confidence about our technology, and how we can leverage this to achieve certain milestones to fast track success" said James Nathanielsz, Propanc's Chief Executive Officer. "For example, we've estimated it will cost less than quarter of a million dollars to complete the important animal studies through our research partners, which will enable us to initiate important discussions with potential licensing partners who may be interested in licensing our drug as part of their oncology portfolio. Such licensing deals can often fast track potential earnings and revenue for early stage companies like us," he added.
The Company is presently negotiating with third parties to assist with raising the capital needed to complete its planned research and development activities. Recent announcements relating to financing arrangements with Southridge Capital are presently under review, as early indications suggest an alternative course of action may be necessary to raise the capital needed. "Management firmly believes in the value of our technology and remains determined to execute our plans for this year. We will continue to search for the best financing deal which will enable us to accomplish our pending milestones, whilst maximizing shareholder value in the process. This is imperative," Mr. Nathanielsz commented.
About Propanc:
We are a development stage healthcare company that is currently focused on developing new cancer treatments for patients suffering from pancreatic and colorectal cancer. Together with our scientific and oncology consultants, we have developed a rational, composite 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 leading products are variations upon our novel formulation and involve or employ pro-enzymes, which are inactive precursors of enzymes. As a result of positive early indications of the anti-cancer effects of our technology, we intend to submit our pro-enzyme treatment to the rigorous, formal non-clinical and clinical development and trial processes required to obtain the regulatory approval necessary to commercialize it and any product(s) derived and/or to be derived therefrom.
In the near term, we intend to target patients with limited remaining therapeutic options for the treatment of solid tumors such as colorectal or pancreatic tumors. In the future, we intend to development 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, please visit: www.propanc.com.
Forward-looking Statements:
Certain of the matters discussed in this announcement involve risks and uncertainties including, without limitation, those regarding the Company's ability to establish and maintain the proprietary nature of its technology through the patent process, its ability to license from others patents and patent applications, if necessary, to develop certain products, its ability to implement its long range business plan for various applications of its technology, and its ability to enter into agreements with any necessary marketing and/or distribution partners for purposes of commercialization. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the company's financial position. See Propanc's most recent Quarterly Report on Form 10-Q and related 8K filings.
SOURCE Propanc Health Group Corporation
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