MELBOURNE, Australia, May 23, 2014 (GLOBE NEWSWIRE) -- Propanc Health Group Corporation (OTCQB:PPCH) ("Propanc" or "the Company") an emerging healthcare company focused on the development of new and proprietary treatments for cancer patients, today announced that it has made substantial progress in connection with their ongoing efforts to secure acceptance and approval of patent applications filed around the world.
In addition to receiving grant status in South Africa, the Company has received preliminary indications from the US and European Patent Offices that key features of the Company's technology are patentable. In conjunction with its patent attorneys, the Company is in the process of responding to inquiries made by examiners from these two important jurisdictions, with a view toward securing a grant of patent in each region covering as many aspects of its technology as possible.
Together, the US and European regions account for over 60% of global pharmaceutical sales and, therefore, are the two largest global markets.
"I am pleased that our substantial efforts and pioneering research into the effects of proenzymes as a treatment against metastatic cancer have resulted in recognition by the Patent Offices in the US and Europe of the novelty of our claims," said James Nathanielsz, Propanc's Chief Executive Officer. "We will continue to work hard to protect our intellectual property to ensure we deliver maximum long term value to our shareholders," he added.
Propanc shares a joint intellectual property ownership arrangement with its research partner, the University of Bath. In addition to the United States, Europe and South Africa (where a patent already has been granted), the Company also is actively seeking patent protection in Japan, Brazil, China, Mexico, Hong Kong, Israel, Chile, Peru, Malaysia, Vietnam, Indonesia, India, Australia, New Zealand and South Korea.
Propanc is a development stage healthcare company whose current focus is on the development of new cancer treatments for patients, particularly those suffering from pancreatic and colorectal cancer. Together with its scientific and oncology consultants, Propanc has developed a rational, composite formulation of anti-cancer compounds which enable and support a host of cancer treatment options. Propanc's leading products are variations upon its novel formulation and involve or employ proenzymes, which are inactive precursors of enzymes. As a result of positive early indications of the anti-cancer effects of its technology, Propanc intends to submit its principal proenzyme treatment to the rigorous, formal non-clinical and clinical development and trial processes required to obtain the regulatory approval necessary to commercialize that formulation and any product(s) derived and/or to be derived therefrom. For more information, please visit: www.propanc.com.
Certain of the matters discussed in this announcement involve risks and uncertainties including, without limitation, those regarding the Company's ability to establish and maintain the proprietary nature of its technology through the patent process, its ability to license from others patents and patent applications, if necessary, to develop certain products, its ability to implement its long range business plan for various applications of its technology, and its ability to enter into agreements with any necessary marketing and/or distribution partners for purposes of commercializing. 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 Propanc's most recent Quarterly Report on Form 10-Q and related 8K filings.