MELBOURNE, Australia, March 17, 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 has raised $468,500 from institutional investors so far this year, with $532,500 in additional funding commitments. Funds realized from this financing will be used to complete the next phase of animal studies which are pivotal for entry into human trials and initiation of licensing discussions for its lead product, PRP.
"These studies are important because we are investigating I.V administration of PRP, which we believe will have a more potent anti-cancer effect by maximizing exposure of the drug to tumors," said Dr Julian Kenyon, Propanc's Chief Scientific Officer. "This route of administration differs from when I first prescribed a proenzyme treatment by suppository for compassionate use, so that terminally ill patients could self-administer treatment, absorbing the drug into the bloodstream to exert its effects and avoiding breakdown in the gut."
"These studies will provide valuable information relating to the safety and tolerability of PRP as well as efficacy when administered by I.V Injection," said Professor Klaus Kutz, Propanc's Chief Medical Officer. "Whilst my retrospective review of patients treated at Dr Kenyon's practice indicated that a proenzyme treatment has the potential to meaningfully extend life, free from serious side effects normally associated with standard therapies, we are determined to fully assess the behavior of the drug in animals prior to conducting human trials."
The Company was buoyed by trading activity of the stock in recent weeks, and as a result, observed a number of analysts critiquing the Company's current position and future plans more closely. "We welcome scrutiny from analysts and agree investors should investigate a company fully before making an investment decision," said James Nathanielsz, Propanc's Chief Executive Officer. "Raising funds to complete our next phase of R&D was critical to our plans, which we fully describe in our filings and investor presentation which are available on our website. Encouragingly, we continue to receive interest from investors and intend to raise sufficient capital to complete preclinical development and early stage clinical trials for PRP, as well as reduce our short term debts."
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 proenzymes, 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 proenzyme 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 March 17, 2015