MELBOURNE, Australia, May 16, 2014 (GLOBE NEWSWIRE) -- Propanc Health Group Corporation (OTCQB:PPCH) ("Propanc Health Group," "Propanc" or "the Company"), a developmental stage a healthcare company focused on new cancer treatments for patients with solid tumors, today announced its key strategic objectives for the development of its lead product, PRP. This Company is now refocusing the preferred route of administration to intravenous (I.V.) injection. They are now targeting 2015 to prepare for and initiate human trials in patients with advanced colorectal and/or pancreatic cancers.
Dr Kenyon, Chief Scientific Officer of Propanc Health Group, states, "After a detailed strategic review of our scientific and preclinical research, our development team determined I.V. injection as the preferred route of administration. This approach would be the best way to maximise results in future patient trials, by ensuring maximum exposure of the drug to the tumor site."
James Nathanielsz, Chief Executive Officer of Propanc Health Group, said, "We believe this will help us to improve the results already observed in a Compassionate Use Study conducted by Dr Kenyon at the Dove Clinic (UK). We were able to extend life in a number of terminally ill patients, free from the serious side effects normally observed during conventional treatment methods."
Based on the Company's strategic review, Propanc Health Group will conduct a number of animal studies in various tumor models. This will identify a target dose for future patient trials. "Once we have assessed and identified the most effective dose in animals, we plan to meet with the FDA (Food and Drug Administration), to discuss and agree upon the planned formal preclinical program to support an Investigational New Drug Application (IND) to commence human trials in 2015," said Professor Klaus Kutz, Chief Medical Officer at Propanc Health Group. "Depending on the final indication selected for our initial patient trials, we may also seek Orphan Drug Designation for our treatment given the novelty of our proenzyme formulation and depending on the size of the target patient population we propose for trials."
The Company is seeking to complete the relevant animal studies and undertake preparation for patient trials next year. "Undertaking these development activities is a critical step for our future plans for the Company," James Nathanielsz, CEO of Propanc Health Group acknowledged. "Our attention will now turn toward raising the capital needed to complete these activities."
Propanc Health Group aims to fast-track the development of proenzyme-related oncology products into clinical trials, initially for colorectal and pancreatic tumors. The world market for colorectal cancer is expected to reach $8.8 billion by 2020 and the global pancreatic cancer market is projected to exceed $1.2 billion by the year 2015, according to Global Analyst Reports.
About Propanc Health Group Corporation
Propanc Health Group Corporation is a development stage healthcare company whose current focus is the development of new cancer treatments for patients with solid tumors such as pancreatic and colorectal cancer. Propanc, together with its scientific and oncology consultants, has developed a rational, composite formulation of anti-cancer compounds which together exert a number of anti-cancer actions. Propanc's leading products are novel, patented formulations based on proenzymes, which are inactive precursors of enzymes. As a result of positive early indications of the anti-cancer effects, Propanc intends to progress their lead product along the rigorous, formal non-clinical and clinical development pathway required to obtain regulatory approval to market its proenzyme formulation. Propanc intends to undertake development of manufacturing, formal non-clinical studies and then Phase I, II and III clinical trials in order to generate the quality, safety and efficacy data required for regulatory approval. For more information, please visit: www.propanc.com.
Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the company's ability to implement its long range business plan for various applications of its technology; the company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the company's reports filed with the Securities and Exchange Commission. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the company's financial position. See the company's most recent Quarterly Report on Form 10-Q and related 8K filings.