Propanc Health Group is an Australian biotech company. It has been developing innovative treatments for patients with solid tumors like colorectal, pancreatic and ovarian cancers. According to its Board of Director, the corporate name change was approved.
“As a result of the company’s recent progress and anticipated upcoming milestones, we believe the timing is right to change our company name to better reflect our stage of growth and development, as well as execute the reverse stock split,”Propanc’s Chief Executive officer James Nathanielsz
“Given that we expect to complete our GLP toxicity study very soon and expect to then move forward with First-In-Man studies of our lead product, PRP, we wanted to launch our corporate strategy to address our capital structure, reduce debt, and raise additional capital sufficient to progress PRP through clinical development.”
The company’s leading product, PRP is a novel, patent-pending formulation that includes two pancreatic proenzymes: trypsinogen (trypsinogen) and chymotrypsinogen (chymotrypsinogen). PRP is currently used to treat solid tumors and prevent their recurrence.
Eighty percent all cancers are caused by solid tumors. Metastasis is the leading cause of death from cancer. The initial patient populations that the company is targeting are those with pancreatic and ovarian cancers.
Additionally, the company is compiling data from the GLP-compliant 28-day toxicology study of its lead product, PRP, and performing histopathology, biochemistry and toxicological assessments to determine the toxicological effect of PRP at various dosing intervals. All indications are that it is possible to identify a safe starting dose in First-In-Man studies.
Nathanielsz attended in April the European Small Cap Investor Conference in Paris. This conference brought together institutional investors with listed companies from Europe, the USA, and Asia Pacific.
“By undertaking these steps, management hopes to better position the company for an up-listing of its common stock to a national stock exchange in order to help ensure the long-term future of the company and create value for its shareholders,” says Nathanielsz.
For more information, please visit http://www.propanc.com
