\n\u201cWhilst navigating the challenges presented during the global pandemic, Propanc management believes the Company has the fundamentals in place to progress PRP to a Phase Ib, First-In-Human (FIH) study in advanced cancer patients,\u201d said James Nathanielsz, Propanc\u2019s Chief Executive Officer. \u201cWe continue to work on publishing our latest scientific research and exploiting further patent opportunities for our expanding intellectual property portfolio. PRP represents a novel approach that offers a real alternative to standard treatment options which is less toxic and supports immune function when compared to standard treatment options. In a post COVID world, we need to support cancer sufferers whose lives have been significantly affected by cancer and the threat of post treatment secondary infection, which can be life threatening. We look forward to expending every effort to meet our goals in 2021.\u201d\n<\/p>\n
Recent Developments<\/b><\/p>\n
\nThe Company recently raised $209,000 for operating expenses. Furthermore, an S-1 Registration Statement received a notice of effectiveness from the Securities and Exchange Commission for a lead institutional investor as part of a financing agreement entered into earlier this year of up to $3 million with a total of $626,035 of securities purchased to date. The Company will continue to work with the lead institutional investor for future funding tranches to prepare the Company\u2019s lead product candidate, PRP, for a Phase Ib, FIH study in advanced cancer patients suffering from solid tumors.\n<\/p>\n
Forecast for 2021<\/b><\/p>\n
\nIn 2021, funds raised from the Company\u2019s institutional investor will be used to undertake an engineering run and full scale Good Manufacturing Practice (GMP) manufacture of PRP, the Company\u2019s lead product candidate, as well as validation of the pharmacokinetics method to analyze the distribution of the drug in advanced cancer patients for a Phase Ib, FIH study, which the Company intends to undertake in the second half of 2021, at the Peter Mac Center in Melbourne, Australia\u2019s biggest cancer hospital.\n<\/p>\n
Lead Product Candidate \u2013 PRP<\/b><\/p>\n
\nPRP is a pharmaceutical composition consisting of two pancreatic proenzymes trypsinogen and chymotrypsinogen for treating cancer. PRP is a novel approach to prevent recurrence and metastasis of solid tumors by using pancreatic proenzymes that target and eradicate cancer stem cells in patients suffering from pancreatic, ovarian and colorectal cancers. PRP is a novel therapy based on the science that enzymes stimulate biological reactions in the body, especially enzymes secreted by the pancreas and could represent the body\u2019s primary defense against cancer.\n<\/p>\n
\nTo date, preclinical development has been completed for PRP, including pharmacology and safety toxicology studies, process development activities and bioanalytical method development. Propanc Biopharma is collaborating with contract research organizations, manufacturing partners and its consultants to complete the activities prior to preparing the CTA for the Phase Ib, FIH study.\n<\/p>\n
Joint Research and Drug Discovery Program \u2013 POP1<\/b><\/p>\n
\nThe POP1 joint research and drug discovery program is designed to produce a backup clinical compound to the lead product candidate, PRP. With the aim of producing large quantities of trypsinogen and chymotrypsinogen for commercial use, exhibiting minimal variation between lots and without sourcing the proenzymes from animals, Propanc Biopharma is undertaking a challenging research project in collaboration with the Universities of Ja\u00e9n and Granada, led by research scientist Mr. Aitor Gonz\u00e1lez, supported by Dr. Macarena Per\u00e1n, Ph.D. and Dr. Julian Kenyon, M.D. as joint supervisors, representing the Universities and Propanc, respectively.\n<\/p>\n
\nOne specific objective of the project will be to synthesize both proenzymes by an in vivo <\/i>(i.e., a living organism)system to produce crystalized proteins that could be maintained for long periods without suffering degradation, even in absence of refrigeration. This will be particularly useful for a longer shelf life as well as global distribution of the drug product, particularly in warmer climates and developing regions where refrigeration may not be available.\n<\/p>\n
\nThe POP1 joint research and drug discovery program has produced synthetic recombinant versions of the two proenzymes, trypsinogen and chymotrypsinogen. Propanc Biopharma\u2019s joint scientific researchers developed a novel expression system and are in the process of optimizing conditions to achieve high titers of recombinant trypsinogen and chymotrypsinogen. Further, the anticancer effects of the synthetic versions will be tested against the naturally derived proenzymes from bovine origin.\n<\/p>\n
\nPropanc Biopharma recently entered into a second two-year joint research and collaboration agreement with the University of Ja\u00e9n who are undertaking the research activities for the POP1 program.\n<\/p>\n
About Propanc Biopharma, Inc.<\/b><\/p>\n
\nPropanc Biopharma, Inc. (the \u201cCompany\u201d) is developing a novel approach to prevent recurrence and metastasis of solid tumors by using pancreatic proenzymes that target and eradicate cancer stem cells in patients suffering from pancreatic, ovarian and colorectal cancers. For more information, please visit www.propanc.com<\/a>.\n<\/p>\n \nThe Company\u2019s novel proenzyme therapy is based on the science that enzymes stimulate biological reactions in the body, especially enzymes secreted by the pancreas. These pancreatic enzymes could represent the body\u2019s primary defense against cancer.\n<\/p>\n \nTo view the Company\u2019s \u201cMechanism of Action\u201d video on its anti-cancer lead product candidate, PRP, please click on the following link: http:\/\/www.propanc.com\/news-media\/video<\/a><\/p>\n Forward-Looking Statements<\/b><\/p>\n \nAll statements other than statements of historical facts contained in this press release are \u201cforward-looking statements,\u201d which may often, but not always, be identified by the use of such words as \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201cwill likely result,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201cestimate,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cseek,\u201d \u201ccontinue,\u201d \u201ctarget\u201d 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\u2019s ability to continue as a going concern absent new debt or equity financings; the Company\u2019s current reliance on substantial debt financing that it is unable to repay in cash; the Company\u2019s ability to successfully remediate material weaknesses in its internal controls; the Company\u2019s ability to reach research and development milestones as planned and within proposed budgets; the Company\u2019s ability to control costs; the Company\u2019s ability to obtain adequate new financing on reasonable terms; the Company\u2019s ability to successfully initiate and complete clinical trials and its ability to successful develop PRP, its lead product candidate; the Company\u2019s ability to obtain and maintain patent protection; the Company\u2019s ability to recruit employees and directors with accounting and finance expertise; the Company\u2019s dependence on third parties for services; the Company\u2019s 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\u2019s Registration Statement on Form S-1, Amendment No. 5, filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) on November 3, 2020, and in the Company\u2019s 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.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201214005278\/en\/<\/a><\/span><\/p>\n Investor Relations and Media: KEYWORDS:<\/b> Australia\/Oceania Australia<\/p>\n INDUSTRY KEYWORDS:<\/b> Research General Health Pharmaceutical Oncology Hospitals Genetics Surgery Clinical Trials Science Biotechnology FDA Health Other Science<\/p>\n<\/p>\n
\n<\/b>
Mr. James Nathanielsz
\n
Propanc Biopharma, Inc.
\n
irteam@propanc.com
\n<\/a>
+61-3-9882-0780\n<\/p>\n
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