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MELBOURNE - Propanc Biopharma, Inc. (NASDAQ:PPCB) announced Wednesday it has received a certificate of grant from the US Patent & Trademark Office for its proenzyme composition patent, which specifically covers a potential future clinical dose of its lead asset, PRP.
This marks the fourth US patent granted to the company, adding to its intellectual property portfolio of 90 patents filed across major jurisdictions for PRP’s use against solid tumors.
The patent is considered strategically important as Propanc prepares to advance PRP to a Phase 1B First-In-Human study in advanced cancer patients with solid tumors. Similar patents have already been granted in Europe, Japan, and throughout Southeast Asia.
PRP is being developed as a treatment for metastatic cancer from solid tumors. According to the company, the treatment works by inducing cell differentiation rather than directly killing cancer cells, potentially offering a less toxic alternative to standard therapies.
"Our lead asset, PRP, is an exciting method to prevent and treat metastatic cancer from solid tumors without the severe, or even serious side effects often associated with standard therapies," said James Nathanielsz, Propanc’s Chief Executive Officer, in a press release statement.
The company is targeting commencement of its Phase 1B study next year and is pursuing capital raising initiatives to support this clinical milestone. Financial data shows the company maintains a healthy current ratio of 2.24, indicating sufficient liquidity to meet short-term obligations, though its negative EBITDA of $53.89 million underscores the importance of successful capital raising efforts.
Propanc’s approach focuses on using pancreatic proenzymes to target and eliminate cancer stem cells in patients with pancreatic, ovarian, and colorectal cancers.
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