MELBOURNE, AUSTRALIA -- (Marketwire) -- 12/04/12 -- Propanc Health Group Corporation (OTCQB: PPCH) ("Propanc" or "the Company"), a developmental stage healthcare company focused on new cancer treatments for patients with solid tumors, issued a summary of recent achievements that position the company for planned future growth in the next twelve months.
Propanc aims to fast track the development of oncology products into clinical trials, initially for colorectal and pancreatic tumors. The world market for colorectal cancer is expected to reach $8.8 billion by 2020 and the global pancreatic cancer market is projected to exceed $1.2 billion by the year 2015, according to Global Analyst Reports.(1) (2)
Propanc continues to consolidate its position as an innovative research and development company, as it seeks to protect its novel proenzyme formulations for the treatment and prevention of metastatic cancer. The Company has achieved several significant milestones in the past twelve months, including:
Dr. Julian Kenyon, Propanc's Chief Scientific Officer, said, "I am truly excited about the recent findings with our research partners. We finally confirmed our original hypothesis that fundamentally, proenzymes are important for maintaining tissue architecture, and over many years the role proenzymes have long been considered a potential tool against metastatic cancer. We can now conclude proenzymes essentially reverse the EMT by down regulating a number of key genes critical for cancer cells metastasizing and spreading."
Mr. James Nathanielsz, Chairman and CEO of Propanc, added, "After extensive research and testing over the last six years, we are now at a pivotal stage where the use of proenzymes to treat cancer could become a commercial reality. Our achievements represent a whole new approach to the way cancer patients are, and can continue to be, treated, particularly in the earlier stages of the disease. Identifying novel combinations of the proenzyme formulations and then patenting our invention is a critical step in our developmental process and is the cornerstone of our company. Looking forward, we are working tirelessly to complete our formal preclinical activities and be ready for Phase I clinical trials for PRP™, which we expect to achieve by the second half of 2013."
In addition to its research and development efforts, Propanc has made significant progress in the U.S. capital markets:
Mr. James Nathanielsz, Chairman and CEO of Propanc, said, "Receiving DTC application approval with the Depository Trust Company is an important step to providing full access for our shareholders on the OTC markets. As an emerging biotech company, trading electronically is essential for increasing trading liquidity and market exposure."
November, 2012 - Completion of DTC application
Propanc received approval from the Depository Trust Company (DTC) November, 2012. DTC eliminates the movement of securities by providing book-entry deliveries, which transfer the ownership of securities electronically.
July, 2012 - Engagement with Market Makers, Spartan Securities and Network 1 Financial
Propanc established relationships with Spartan Securities Inc., a full service investment banking firm in Florida, sponsored the Propanc's 15C-211 application for quotation on the OTC Markets, where the company has commenced trading under the symbol "PPCH." In addition, Propanc established a relationship with Network 1 Financial, an independent, full service securities firm who later filed the Company's DTC application.
About Propanc Health Group Corporation
Propanc Health Group Corporation is a development stage healthcare company whose current focus is the development of new cancer treatments for patients with solid tumors such as pancreatic and colorectal cancer. Propanc, together with its scientific and oncology consultants, has developed a rational, composite formulation of anti-cancer compounds which together exert a number of anti-cancer actions.
Propanc's leading products, PRP™, PRP Injection™ and PRP-DCM™, are novel, patented suppository formulations based on proenzymes, which are inactive precursors of enzymes. As a result of positive early indications of the anti-cancer effects, Propanc intends to progress PRP™ and/or PRP-DCM™ along the rigorous, formal non-clinical and clinical development pathway required to obtain regulatory approval to market its proenzyme formulation. Propanc intends to undertake development of manufacturing, formal non-clinical studies and then Phase I, II and III clinical trials in order to generate the quality, safety and efficacy data required for regulatory approval. For more information, please visit: www.propanc.com.
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 the company's most recent Quarterly Report on Form 10-Q and related 8-K filings.
(1) GlobalData, Colorectal Cancer - Pipeline Assessment and Market Forecasts to 2020, Sep 2010
(2) Global Industry Analysts, Pancreatic Cancer Drugs: A Global Market Report, Mar 2010
Contacts: Propanc Health Group Corporation James Nathanielsz Chief Executive Officer Tel: +61-039208-4182 Email: Email Contact Web: www.propanc.com Investor Relations: Consulting for Strategic Growth 1 Ltd Stanley Wunderlich Tel: +1-800-625-2236 ext. 7770 Email: Email Contact Web: www.cfsg1.com MZ Group John Mattio Senior Vice President Tel: +1-212-301-7130 Email: Email Contact Web: www.mzgroup.com
Source: Propanc Health Group Corp.
Released December 4, 2012