The Peter Mac Cancer Center is a world leading cancer research, education and treatment center and Australia’s only public health service dedicated to caring for people affected by cancer. They have 3,900 employees, including more than 750 laboratory and clinical researchers, all focused on providing better treatments, better care and potential cures for cancer. They are well placed to support the Company’s goals for a world first clinical study of PRP, as a long term, proenzyme therapy for the treatment and prevention of metastatic cancer from solid tumors by targeting and eradicating cancer stem cells, free from side effects normally associated with standard treatment approaches.

“We are pleased to have engaged in positive initial discussion with Professor Mark Rosenthal, Director and FIH Clinical Study Investigator at the Peter Mac Cancer Center,” said James Nathanielsz, BAS, MEI, Propanc’s Chief Executive Officer. “We are excited about the opportunity to work with a world class facility like Peter Mac, and it was great to see our mutual excitement about a potential world first study for PRP as a new therapeutic approach to treat and prevent metastatic cancer from solid tumors. Our plan is to undertake the FIH study in Australia, given the favorable R&D cashback benefit where we will receive 43% of our R&D expenditure on local activities, as well as approval from the Australian Government for reimbursement some overseas activities as well. We will then plan to undertake subsequent clinical studies in Europe, as the preeminent region behind the USA, where we will undertake a Pre-IND meeting with the US Food and Drug Administration once we have clinical data from our FIH study. Achieving this exciting development stage in the not-too-distant future could prove transformative for the Company, and its shareholders.”

Propanc is set to capitalize on favorable government incentives from the Australian government for future product and clinical development of PRP, receiving a 43.5% cash back benefit on all local R&D activities conducted in Australia. Furthermore, a Certificate for Advance Overseas Finding was received from the Board of Innovation and Science Australia to receive up to a 43.5% “cash back” benefit from overseas R&D expenses. Overseas activities to be undertaken include validation of the pharmacokinetics method for PRP and its manufacture of the finished product for the FIH study.

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 pancreatic, ovarian, kidney, breast, brain, prostate, colorectal, lung, liver, uterine, and skin cancers. Orphan Drug Designation status of PRP has been granted from the US Food and Drug Administration (FDA) for treatment of pancreatic cancer.