Propanc Biopharma Provides Update on Preparation of PRP for Clinical Trial Application Submission and Recently Completed Reverse Stock Split
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July 15, 2019
MELBOURNE, Australia--(BUSINESS WIRE)-- Propanc Biopharma, Inc. (OTC: PPCBD) (“Propanc”), a biopharmaceutical company developing new cancer treatments for patients suffering from recurring and metastatic cancer, announced today an update on Propanc’s preparation of PRP, its anti-cancer lead product candidate, for clinical trial application submission and its recently completed reverse stock split.
Propanc plans to submit its first clinical trial application in the second half of 2019, followed by commencement of a First-In-Human (“FIH”) study in advanced cancer patients for PRP during the first half of 2020.
Approximately 80% of cancers are from solid tumors and metastasis is the main cause of patient death. PRP targets cancer stem cells which are resistant to standard treatments, remain dormant for long periods, then migrate to other organs, triggering explosive tumor growth and causing patient relapse. PRP is the mixture of two proenzymes (trypsinogen and chymotrypsinogen) from bovine pancreas. A synergistic ratio of these proenzymes inhibits growth of most tumor cells. Efficacy has been shown in pancreatic, kidney, breast, brain, prostate, lung, liver, uterine, and skin cancers. Proenzyme therapy targets cancer stem cells not killed by radiation and chemotherapy. PRP addresses the global, unmet medical need for combating solid tumor recurrence and metastasis.
“To our knowledge, no other cancer drugs, or even cancer stem cell therapies, can make a claim of turning back malignant cells towards becoming benign. Our research has identified proenzymes, supported by nearly 100 years of use and numerous scientific publications supporting proenzymes as a treatment method for numerous inflammatory conditions, as well as cancer, that a synergistic ratio of these proenzymes may regulate cell proliferation as a means to control the growth and spread of malignant tumor cells,” said James Nathanielsz, Propanc’s Chief Executive Officer. “Not only have we seen significant extension of life as a result of PRP demonstrated in a compassionate use study of advanced cancer patients, but almost all of the patients experienced a relief of symptoms without any severe, or even serious side effects from treatment. We are now planning for an FIH study by undertaking full scale manufacturing of PRP for human use and also currently developing a pharmacokinetic method to analyze distribution of PRP from human plasma.”
In addition, Propanc’s 1-for-500 reverse stock split of its shares of common stock was consummated in the market at the open of business on June 24, 2019, and the company’s shares are now trading on the OTCQB on a post-split adjusted price. In connection with the split, Propanc’s trading symbol temporarily changed to “PPCBD.” That “D” in Propanc’s current trading symbol will remain for 20 business days until approximately July 22, 2019, after which the company’s trading symbol will revert to its original symbol, “PPCB”.
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