Propanc Biopharma Inc (OTCMTKS:PPCBD) has boosted its intellectual property portfolio for its anti-cancer technology currently in development, the company announced on Thursday.
The biopharmaceutical company’s portfolio now has 65 patents either in force or pending in most major countries around the globe.
Over the past year, three additional patent families have entered the national sphere, where a patent application is filed in individual countries to achieve grant status.
Founded in 2007, Propanc develops new cancer treatments initially for patients suffering from pancreatic, ovarian and colorectal cancers. In the last 10 years, the Mebourne, Australia-based company has uncovered evidence to suggest that pancreatic enzymes basically assist with cell-to-cell contact and communication and can be used to halt the spread of cancer.
“Our IP portfolio is a world leader in the field of administration of proenzymes for the treatment and prevention of metastatic cancer, said Dr Julian Kenyon, Propanc’s Chief Scientific Officer.
"IP is the cornerstone of any biotech company, and places us in a strong position to unlock significant value, as we plan to progress into a First-In-Human study and then hopefully towards proof of concept in a specific cancer indication, where we will then look at possible licensing opportunities.”
Propanc is developing a long-term therapy based on a pancreatic proenzyme formulation to prevent tumor recurrence and metastasis.
The pharma company’s lead drug candidate, PRP, has four patent families to cover the use of proenzymes for treating cancer either individually or through a mix of trypsinogen and chymotrypsinogen pancreatic proenzymes.
“We are firmly of the opinion that our current market value does not truly reflect the advancement of our lead product, PRP, or its true potential as a breakthrough, long term treatment for aggressive and fast spreading cancers from solid tumors by targeting and eradicating cancer stem cells,” Kenyon said in a statement.
Shares of Propanc climbed 31.2% on OTC markets on Thursday to reach US$3.40.
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