Propanc Biopharma Receives Notice of Allowance for Proenzyme Compositions to Treat Cancer from the European Patent Office

Rhea-AI Summary

Propanc Biopharma, Inc. (OTCQB: PPCB) announced a Notice of Allowance from the European Patent Office for its second patent application regarding compositions of proenzymes to treat cancer, expiring in November 2036. This patent will support higher dosing in upcoming clinical studies for its lead product candidate, PRP. A third application is under examination for treating cancer stem cells. The company’s IP portfolio now includes 65 patents, with plans for further patent applications based on recent discoveries.

Positive

• Receipt of a Notice of Allowance from the European Patent Office for a second patent application enhances the company's IP portfolio.
• The allowed patent will enable higher dosing in planned Phase I studies, potentially improving therapeutic efficacy.
• The company's growing IP portfolio now consists of 65 patents, indicating strong innovation and research output.

Negative

• The company's reliance on third-party services and key executives introduces risk to operational continuity.
• The company's financial stability is uncertain due to reliance on substantial debt financing that it is unable to repay in cash.

The Second Patent Application Allowed with a Third Under Examination in Europe

MELBOURNE, Australia--(BUSINESS WIRE)-- Propanc Biopharma, Inc. (OTCQB: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel cancer treatments for patients suffering from recurring and metastatic cancer, today announced that a Notice of Allowance has been received from the European Patent Office (EPO) for claims involving compositions of proenzymes to treat cancer. This is the Company’s second patent application allowed in this jurisdiction and expires in November, 2036. A third patent application is currently under examination at the EPO for a method to treat cancer stem cells, which was allowed in March this year by the US Patent and Trademark Office (USPTO).

The field of the invention covers future dosing in planned clinical studies for the Company’s lead product candidate, PRP. The allowed patent, citing proenzyme compositions to treat cancer, comprising trypsinogen and chymotrypsinogen at specific higher dosage ratios than the Company’s original foundation patent, will enable the Company to cover higher doses in a planned, Phase I, First-In-Human study in advanced cancer patients. It is believed that increased exposure at higher doses may result in better therapeutic efficacy.

Currently, the Company’s growing IP portfolio consists of 65 patents either in force, or currently under examination in global jurisdictions. As a result of the EPO allowance, the number of patents in the portfolio is expected to increase as the Company validates the allowed patent in selected individual countries within the EU region. The Company also plans to file additional patent applications based on recent scientific discoveries through the Company’s joint research partnerships in the near future, centered on composition, method of use and process development claims.

“The advancement of our growing IP portfolio is a reflection of our tireless efforts over the last decade into research and development of proenzymes as an effective tool to treat cancer,” said Mr. James Nathanielsz, Propanc’s Chief Executive Officer. “As we progress towards a First-In-Human study in advanced cancer patients, it is important to ensure adequate protection of our invention, which holds significant value for shareholders, as we continue to expand in this novel field. PRP is an exciting new approach to treat and prevent metastatic cancer by targeting and eradicating cancer stem cells (CSCs), which remains the biggest cause of death for sufferers. By targeting CSCs and leaving healthy cells alone, it may also be free from the side effects normally associated with standard treatments, which will be significant for patients and their loved ones. We remain dedicated to this cause.”

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 kidney, ovarian, breast, brain, prostate, colorectal, lung, liver, uterine and skin cancers.

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

Forward-Looking Statements

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 initiate and complete clinical trials and its ability to successful 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 periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005485/en/

Investor Relations and Media:

Mr. James Nathanielsz

Propanc Biopharma, Inc.

irteam@propanc.com

+61-3-9882-0780

Source: Propanc Biopharma, Inc.

FAQ

What is the recent patent news for Propanc Biopharma (PPCB)?

Propanc Biopharma received a Notice of Allowance from the European Patent Office for a second patent application related to compositions of proenzymes for cancer treatment.

How many patents does Propanc Biopharma currently have?

Propanc Biopharma's IP portfolio consists of 65 patents in force or under examination globally.

What is the significance of the allowed patent for Propanc's PRP treatment?

The allowed patent allows for higher dosing in upcoming clinical studies of Propanc's lead product candidate, PRP, which may enhance therapeutic efficacy.

What is the expiration date for the allowed patent granted to Propanc Biopharma?

The allowed patent is set to expire in November 2036.

What are the risks mentioned in Propanc Biopharma's press release?

The company faces risks related to reliance on third-party services, key executives, and significant debt financing.