MELBOURNE, Australia, Sept. 19, 2018 /PRNewswire/ -- Propanc Biopharma, Inc. (OTCQB: PPCB) ("Propanc Biopharma" or the "Company"), a clinical stage biopharmaceutical 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 the execution of a research collaboration agreement with the University of Jaén, Spain, for the provision of research services and scientific technical advice for the Company's POP1 drug discovery program. The goal for the program is to synthesize and develop a backup clinical compound to the Company's lead product candidate, PRP. The development of the backup compound will be used for treating patients with limited therapeutic options for the treatment of solid tumors,
The specific objectives for the collaboration include:
- The identification of a suitable backup clinical compound to PRP;
- The validation of the anti-carcinogenic properties of the new drug candidate through in vitro testing;
- The validation of the anti-carcinogenic properties of the new drug candidate through in vivo testing;
- The production of the new synthetic drug candidate in compliance with FDA's "current good manufacturing practice" (cGMP) conditions, in order for it to be used in human trials.
Dr. Macarena Perán Quesada, Professor at the University of Jaén, will be in charge of management and coordination of the working team and will be the scientific consultant in charge of the project run by the University of Jaén. Dr. Perán is the lead author of several scientific papers jointly published with the Company regarding the anti-cancer and anti-tumor effects of PRP, as well as a co-inventor of several patents in the Company's intellectual property portfolio, including the discovery of PRP as a targeted, cancer stem cell therapy.
"We are truly delighted to be working with Dr. Perán, as we look to discover and develop new compounds which support our lead product candidate, PRP, which is progressing towards human trials," said Mr. James Nathanielsz, Propanc Biopharma's Chief Executive Officer. "Our vision is to establish a new therapeutic drug class for the treatment and prevention of metastatic cancer, by targeting and eradicating cancer stem cells. We look forward to executing this important project with Dr. Perán and the Department of Health Sciences at the University of Jaén."
"The collaboration between public institutions and biotech companies is key to overcoming therapeutic challenges," said Dr. Perán. "We are excited to commence this new project with the hope of providing an effective treatment against aggressive cancers, like pancreatic cancer."
To view Propanc Biopharma's "Mechanism of Action" video on anti-cancer product candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video
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About the University of Jaén:
The University of Jaén is among the Top 50 of the best young universities in the world according to THE (Times Higher Education). Likewise, the University of Jaén received the EFQM 500+ European Seal of Excellence, the highest level of recognition awarded by the Excellence in Management Club, as the official representative of the European Foundation for Quality Management (EFQM) in Spain. It also stands out in the field of computing, since the University of Jaén is among the 75 best universities in the world, according to Academic Ranking of World Universities (ARWU) 2017. The University of Jaén is repeatedly in the top 4% of universities worldwide, according to the Ranking Center for World University Rankings (CWUR), which annually collects the thousand best and most valued among the more than 25,000 existing universities. In addition, it is the fourth Spanish university that has obtained the highest score in the ranking of international student satisfaction, published by the STEXX International Studyportals Organization, in its 2016 version.
About Propanc Biopharma, Inc.:
Propanc Biopharma, Inc. (the "Company") is a biopharmaceutical company developing new cancer treatments initially for patients suffering from pancreatic, ovarian and colorectal cancers. The Company has 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 by targeting and eradicating cancer stem cells. The Company's products involve or employ pancreatic proenzymes, which are inactive precursors of enzymes. In the near term, the Company intends to target patients with limited remaining therapeutic options for the treatment of solid tumors. In the future, the Company intends to develop its lead product candidate, PRP, to treat early stage cancer and pre-cancerous diseases, and as a preventative measure for patients at risk of developing cancer based on genetic screening.
PRP is a solution for intravenous administration of a combination of two pancreatic proenzymes trypsinogen and chymotrypsinogen. Progressing towards a first-in-human study, PRP seeks to prevent recurrence and metastasis from solid tumors by targeting and eradicating cancer stem cells. Eighty percent of cancers are solid tumors and metastasis is the main cause of patient death from cancer. According to the World Health Organization, 8.2 million people died from cancer in 2012. A report by IMS Health states innovative therapies are driving the global oncology market to meet demand, which is expected to reach $150 billion by 2020. The Company's initial target patient populations are pancreatic, ovarian and colorectal cancers, representing an estimated combined market segment of $14 billion in 2020, according to GBI Research.
For more information, visit the Company at www.propanc.com.
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 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 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 Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission (the "SEC") on September 17, 2018 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.
SOURCE Propanc Biopharma, Inc.