Increased Emphasis on R&D in Molecular Biology by Private and Public Players will Provide Lucrative Opportunities in the Pancreatic Cancer Market
MELBOURNE, Australia--(BUSINESS WIRE)-- Propanc Biopharma, Inc. (OTC Pink: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel cancer treatments for patients suffering from recurring and metastatic cancer, today announced that the Company’s clinical candidate PRP targeting the pancreatic cancer market is forecast to reach $6.93 Billion by 2030, according to a report published by The Brainy Insights, a market research company. According to the report, the global pancreatic cancer market is expected to grow at a compound annual growth rate (CAGR) of 8.13% during the forecast period between 2022 to 2030. Rising alcohol and tobacco consumption prevalence expecting to contribute to the rapid growth. As a result, increased emphasis on R&D in molecular biology by private and public players will provide lucrative opportunities. The North American region emerged as the largest market sector, with a 38.5% share of the market revenue in 2021. Emerging targeted therapies, such as multi-targeted T-cell therapy for treating pancreatic cancer, received orphan drug from the US Food and Drug Administration (FDA) early 2022.
As a result of laboratory and clinical studies undertaken in pancreatic cancer, Propanc applied for and received Orphan Drug Designation from the US FDA for the use of PRP to treat pancreatic cancer. The approved indication is one of the most lethal malignancies with a median survival of 6 months and a 5-year survival rate of less than 5%. The lethal nature of this disease stems from its propensity to rapidly disseminate to the lymphatic system and distant organs, and is a major unmet medical issue, which will continue to grow unless new and improved treatments are developed. Under the Orphan Drug Act (ODA), drugs, vaccines, and diagnostic agents qualify for orphan status if they are intended to treat a disease affecting less than 200,000 American citizens. Under the ODA, orphan drug sponsors qualify for seven-year FDA-administered market Orphan Drug Exclusivity (ODE), tax credits of up to 50% of R&D costs, R&D grants, waived FDA fees, protocol assistance and may get clinical trial tax incentives.
“Unfortunately, due to a number of critical factors such as alcohol and tobacco use, as well as the rising trend of an inactive lifestyle, coupled with the western food diet, we will continue to see growth in the incidence of pancreatic cancer,” said Dr Julian Kenyon, MD, MB, ChB, Propanc’s Chief Executive Officer. “Once diagnosed, pancreatic cancer is lethal for most patients. Therefore, we are keen to assess the clinical effects of PRP in this patient population. Our extensive laboratory studies, as well as my clinical observations using a combination of trypsinogen and chymotrypsinogen in a suppository formulation, resulting in 2 from 4 terminal pancreatic cancer patients significantly exceeding life expectancy, leads me to believe we can further enhance therapeutic efficacy in future PRP clinical studies with an optimized formulation administered by I.V injection at much higher doses. Therefore, we could be well positioned to capitalize on the significant pancreatic cancer market predictions by the end of the decade.”
PRP is a mixture of two proenzymes, trypsinogen and chymotrypsinogen from bovine pancreas, administered by intravenous injection. A synergistic ratio of 1:6 inhibits growth of most tumor cells. Examples include pancreatic, ovarian, kidney, breast, brain, prostate, colorectal, lung, liver, uterine, and skin cancers. Orphan Drug Designation status of PRP has been granted from the US Food and Drug Administration (FDA) for treatment of pancreatic cancer.
About Propanc Biopharma, Inc.
Propanc Biopharma, Inc. (the “Company”) 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.
The Company’s 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’s primary defense against cancer.
To view the Company’s “Mechanism of Action” video on its anti-cancer lead product candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the planned studies and market projections described above and the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary business partners; the impact of competition; the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the SEC.
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Released July 25, 2023