MELBOURNE, AUSTRALIA / CRWEPRESSRELEASE / August 31, 2015 /Propanc Health Group Corporation (OTCMKTS:PPCH) (“Propanc” or “the Company”), an emerging healthcare company focusing on development of new and proprietary treatments for cancer patients suffering from pancreatic and colorectal cancers, today announced that the Company’s Australian patent application covering its lead product PRP was accepted recently by the Australian Patent Office.
The Australian patent application describes a pharmaceutical composition for treating cancer comprising the proenzymes trypsinogen and/or chymotrypsinogen, as well as several other active agents disclosed in the patent.
Importantly, claims directed to compositions, as well as method of treatment claims, were accepted by the Australian Patent Office. This is considered a great result as composition claims are often difficult to patent and are considered more valuable commercially.
Propanc’s lead patent application is now accepted or granted in Australia, New Zealand and South Africa, and under examination in key global regions such as the United States and European Union. The Company expects the recent acceptance in Australia to support ongoing applications in other territories under examination.
Propanc aims to fast track the development of proenzyme related oncology products into clinical trials for colorectal and pancreatic tumors initially. According to Global Analyst Reports, 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.
“The Propanc management team are very pleased with our recent patent acceptance in Australia,” said James Nathanielsz, Propanc’s Chief Executive Officer. “The combined market for pancreatic and colorectal cancers is around ten billion dollars and we believe PRP could make a real difference for patients suffering from these diseases. Establishing a first class intellectual property portfolio is the cornerstone for supporting this vision.”
Propanc is currently focused on developing new cancer treatments for patients suffering from pancreatic and colorectal cancers. Propanc have 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. Propanc’s products involve or employ proenzymes, which are inactive precursors of enzymes.
In the near term, Propanc intend to target patients with limited remaining therapeutic options for the treatment of solid tumors such as colorectal or pancreatic tumors. In future, Propanc intend to development their 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, 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