BIG NEWS! CEO Says Pronpanc is "is significantly undervalued"
The planned animal studies are designed to better understand PRP's mode of action, how the drug is distributed and breaks down in the body, its effectiveness in inhibiting metastases and associated biological markers, as well as prolonging survival in animals, key information from a regulatory and marketing perspective.
As part of the overall implementation of R&D activities and marketing efforts to licensees, Propanc has engaged in strategic relationships with a Quality Supplier for the ordering of the active pharmaceutical ingredients for the PRP formulation, a specialized Contract Research Organization offering preclinical services for testing cancer agents, as well as an International Business Development Consultancy Firm to actively market PRP globally to potential buyers, once the animal studies are completed. "I am pleased to have commenced the next development stage for PRP, which is pivotal for our progression to human trials. Strategic relationships formed with experts in the industry gives us confidence we have the support infrastructure needed to successfully complete these studies, and beyond," said James Nathanielsz, Propanc's Chief Executive Officer. "Furthermore, raising funds from investors to commence these studies demonstrates their excitement and interest in further developing PRP. As a potential new class of targeted therapeutic agents effective against metastatic cancer, we believe our Company is significantly undervalued compared to similarly placed competitors who enjoy a much higher valuation," he added.
Just prior to filing the Company's last quarterly report, the Company terminated all financing arrangements with Southridge Capital and continues to build relationships with institutional investors keen to become involved with the Company as it seeks to establish and build its cancer treatment portfolio. "Whilst it is regrettable we needed to alter our financing arrangements, I am delighted to receive interest from new investors who can assist the company. In addition, we have also seen our number of shareholders quadruple over the last quarter, so right now, my priority is to increase shareholder value by advancing our lead products to commercialization," Mr. Nathanielsz commented.
