Over the past several years, management has initiated discussions with potential strategic collaborators to provide the resources to advance PRP into clinical development and for future commercialization. These include Australia’s largest cancer research institute, a merged group of hospitals located in the Andalusian region of Spain and a multi-billion-dollar, global, biomedical company with over 50,000 employees. The strategic goal of these potential collaborations is to develop and commercialize PRP for the treatment and prevention of metastatic cancer from solid tumors in major pharmaceutical markets worldwide.

Australia’s largest cancer research institute, the Peter MacCallum Cancer Center, is dedicated to caring for people affected by cancer with over 3,300 staff, including 750 laboratory and clinical researchers, all focused on providing better treatments, better care and potential cures for cancer. Initial discussions have taken place with a principal investigator, and will recommence upon final drug manufacture of PRP for the upcoming clinical study.

Discussions have also taken place with clinical trial investigators at Jaén University Hospitals, in the Andalusian region of Spain. After consideration of scientific literature supporting the use of PRP to prevent recurrence and metastasis of solid tumors, two clinical oncologists from Jaén University Hospital confirmed their interest in evaluating the performance of PRP on behalf of their institution. The Company will consider the conduct of Phase II proof of concept studies, most likely for pancreatic and ovarian cancers, in this region of Spain as possible multi-trial centers to accommodate larger patient numbers.

Finally, market outreach activities have been undertaken by the Company at several different stages of development of PRP to assess the interest in possible strategic partnering of the Company’s lead asset for global pharmaceutical markets. The most recent and encouraging discussion was held with a Vice President, Global Head Search and Evaluation from a top ten, global, biomedical company who expressed a desire to review clinical results from randomized, controlled clinical studies, as PRP enters the next stage of development. The management team at Propanc expects to present interim results after the first 3 months of the Phase I, FIH study in approximately 30 to 40 advanced cancer patients at the Peter MacCallum Cancer Center in Melbourne, Australia. Several other major companies were approached and Propanc expects to resume discussions during the next stage of clinical development for PRP.

James Nathanielsz, BAS, MEI, Propanc’s Chief Executive Officer, said, “Our vision is to deliver a long-term therapy for the treatment and prevention of metastatic cancer from solid tumors, by targeting and eradicating cancer stem cells, free from the side effects normally associated with standard treatment approaches. Metastatic cancer is the leading cause of death for sufferers. We continue to expend every effort to find the best strategic partners for the global commercialization of PRP.”

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.