University of Jaén to Co-fund 3 to 4 Year Program, Appoints Scientist
to Lead Research Activities
MELBOURNE, Australia–(BUSINESS WIRE)– Propanc
Biopharma, Inc. (OTCQB: PPCB) (« Propanc »), a clinical stage
biopharmaceutical company focused on development of new and proprietary
treatments for cancer patients suffering from solid tumors such as
pancreatic, ovarian and colorectal cancers, today announced that a
cooperation agreement has been entered into between the University of
Jaén and Propanc to commence the POP1 joint drug discovery program to be
co-funded by both parties. The agreement coincides with the appointment
of research scientist, Mr. Aitor González, to lead the drug discovery
and research activities over the next 3 to 4 years. The objective of the
program is to identify and develop suitable backup compounds to
Propanc’s lead product candidate, PRP.
As part of the agreement, Macarena Perán, Ph.D. and Julian Kenyon, M.D.
have been appointed as joint supervisors, representing the University
and Propanc, respectively. The program involves advancing new compounds
through a drug screening process, followed by preclinical and early
stage clinical development. As the drug candidate progresses along the
development pathway, the collaboration will also involve the
Universities of Granada and Jaén, as well as Granada and Almeria
Hospitals, which are members of FIBAO, a Public Health Foundation, based
in Granada, Spain, committed to assisting commercial partners with the
development and commercialization of innovative technologies designed to
“Identifying and developing back up compounds to our lead product
candidate, PRP, is part of our long-term vision to commercialize
targeted therapies which treat and prevent the spread of cancer, but
without the side effects normally associated with standard treatment
approaches,” said Dr. Julian Kenyon, Propanc’s Chief Scientific Officer.
“The world-class facilities and expert scientific researchers at Jaén
and Granada Universities are dedicated to helping us achieve our vision,
and we look forward to deepening our pipeline through this research
“Dr. Kenyon’s efforts in driving the understanding of the anti-tumor
effects of proenzymes continues to be a world first, and we are truly
excited to be leading this research collaboration on behalf of Propanc,”
said Dr. Macarena Perán, lecturer and reader at the University of Jaén,
as well as joint supervisor of the POP1 drug discovery program. “Mr.
González has been working in our laboratory over the past year and has
experience in cell culture, nanoparticles, cancer stem cells and in
vivo testing methodologies. We are highly confident in his ability
to lead this research in the laboratory on behalf of our organizations.”
About Propanc Biopharma, Inc.
Propanc Biopharma, Inc. (the « Company ») is a biopharmaceutical company
developing new cancer treatments initially for patients suffering from
pancreatic, ovarian and colorectal cancers. The Company has developed a
formulation of anti-cancer compounds, which exert a number of effects
designed to control or prevent tumors from recurring and spreading
throughout the body by targeting and eradicating cancer stem cells. The
Company’s products involve or employ pancreatic proenzymes, which are
inactive precursors of enzymes. In the near term, the Company intends to
target patients with limited remaining therapeutic options for the
treatment of solid tumors. In the future, the Company intends to develop
its lead product candidate, PRP, to treat early stage cancer and
pre-cancerous diseases, and as a preventative measure for patients at
risk of developing cancer based on genetic screening.
PRP is a solution for intravenous administration of a combination of two
pancreatic proenzymes trypsinogen and chymotrypsinogen. Progressing
towards a first-in-human study, PRP seeks to prevent recurrence and
metastasis from solid tumors by targeting and eradicating cancer stem
cells. Eighty percent of cancers are solid tumors and metastasis is the
main cause of patient death from cancer. According to the World Health
Organization, 8.2 million people died from cancer in 2012. A report by
IMS Health states innovative therapies are driving the global oncology
market to meet demand, which is expected to reach $150 billion by 2020.
The Company’s initial target patient populations are pancreatic, ovarian
and colorectal cancers, representing an estimated combined market
segment of $14 billion in 2020, according to GBI Research.
To view the Company’s “Mechanism of Action” video on anti-cancer product
candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video.
To be added to the Company’s email distribution list, please click on
the following link: http://ir.propanc.com/email-alerts
and submit the online request form.
For more information, visit the Company at www.propanc.com.
All statements other than statements of historical facts contained in
this press release are « forward-looking statements, » which may often,
but not always, be identified by the use of such words as « may, »
« might, » « will, » « will likely result, » « would, » « should, » « estimate, »
« plan, » « project, » « forecast, » « intend, » « expect, » « anticipate, »
« believe, » « seek, » « continue, » « target » 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’s ability to continue as a going concern absent new debt or
equity financings; the Company’s current reliance on substantial debt
financing that it is unable to repay in cash; the Company’s ability to
successfully remediate material weaknesses in its internal controls; the
Company’s ability to reach research and development milestones as
planned and within proposed budgets; the Company’s ability to control
costs; the Company’s ability to obtain adequate new financing on
reasonable terms; the Company’s ability to successfully develop PRP, its
lead product candidate; the Company’s ability to obtain and maintain
patent protection; the Company’s ability to recruit employees and
directors with accounting and finance expertise; the Company’s
dependence on third parties for services; the Company’s 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’s
Registration Statement on Form S-1, filed with the U.S. Securities and
Exchange Commission (the « SEC ») on October 17, 2018, and in the
Company’s 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.
Source: Propanc Biopharma, Inc.