MELBOURNE, Australia, Feb. 23, 2015 /PRNewswire/ -- Propanc Health Group Corporation (OTCPK: PPCH) ("Propanc" or "the Company"), an emerging healthcare company focusing on the development of new and proprietary treatments for cancer patients, today announced it is proceeding with pivotal animal studies to support its planned pre-IND meeting with the FDA, and the initiation of future licensing discussions for its lead product, PRP.
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.
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.
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.
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SOURCE Propanc Health Group Corporation
Released February 23, 2015