MELBOURNE, Australia, November 03, 2021– (BUSINESS WIRE) –Propanc Biopharma, Inc. (OTCQB: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel anticancer treatments for patients with recurrent and metastatic cancers, today announced the appointment of Paul Patrizio as strategic advisor to the management team of Propanc. Mr. Patrizio will report directly to the Chief Executive Officer of the Company, James Nathanielsz. The Company also initiated the process of establishing a wholly owned R&D operating subsidiary in the United States, Cellmed Bio LLC in New Jersey, one of the largest biotechnology centers in the country.
Mr. Patrizio will oversee the creation of Cellmed Bio LLC and assist the Company in identifying strategic partners to assist with the funding and resources of the operational R&D subsidiary in the United States to the Company’s primary product candidate, PRP, which is about to enter a first -human study (FIH) for advanced cancer patients with solid tumors. Financial resources obtained through the operational R&D subsidiary in the United States will be used to complete GMP manufacturing of the finished pharmaceutical product for the next FIH study and validation of a pharmacokinetic method to determine distribution of the drug to patients over time. PRP is a long-term therapy for the treatment and prevention of metastatic cancer by targeting and eradicating cancer stem cells, without the severe side effects normally associated with standard treatments.
“Paul represents an important and welcome appointment as strategic advisor to the management team of Propanc. His role will be essential in establishing our presence in the United States, as well as in unlocking significant value from our intellectual property portfolio as we transform our operational R&D subsidiary Cellmed Bio LLC to the clinical stage, a player in immuno-oncology with a unique approach to the treatment and prevention of metastatic cancer, the leading cause of patient death, ”said Nathanielsz. “I am delighted to be working closely with Paul in executing our corporate restructuring and look forward to the immediate future. His many years of experience and extensive networks in the New Jersey / New York metro area will be critical to our success. “
“Propanc Biopharma is developing an exciting and potential breakthrough technology and I look forward to helping the management team advance PRP into the clinical development phase through the creation of Cellmed Bio LLC, which is a key part of our strategy to achieve our short and long term goals. future objectives in the long term ”, declared Mr. Patrizio.
Mr. Patrizio has been a corporate lawyer, financial professional and senior executive for over 35 years. Mr. Patrizio has been involved with business entities at all stages of development, working with investors and management on complex legal, financial and management issues that often link multiple areas of professional services. These entities come from various industrial groups, including financial services, biotechnology, Internet, banking, media, telecommunications, advertising, insurance, technology, software, renewable energy and mobility. Mr. Patrizio has extensive experience in all types of business transactions, including mergers and acquisitions, financing transactions and the structuring of joint ventures, as well as business development and capital raising for a diverse set of business entities. .
About Propanc Biopharma, Inc.
Propanc Biopharma, Inc. (the “Company”) is developing a novel approach to prevent recurrence and metastasis of solid tumors using pancreatic proenzymes that target and eradicate cancer stem cells in patients with cancer of the pancreas, ovary and colorectal. For more information, please visit www.propanc.com.
The company’s new proenzyme therapy is based on the science that enzymes stimulate biological reactions in the body, especially enzymes secreted by the pancreas. These pancreatic enzymes may be the body’s main defense against cancer.
To view the Company’s “Mechanism of Action” video on its anti-cancer product candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video
All statements other than statements of historical fact contained in this press release are “forward-looking statements”, which can often, but not always, be identified by the use of words such as “could”, “could”, ” will be “,” will probably result “,” should “,” should “,” estimate “,” plan “,” project “,” foresee “,” intend “,” expect “,” anticipate “,” believe ”,“ seek ”,“ continue ”,“ target ”or the negative of these terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the Company’s ability to continue as a going concern in the absence of new debt or equity financings; the Company’s current reliance on significant debt financing which it is unable to repay in cash; the Company’s ability to successfully remedy material weaknesses in its internal controls; the Company’s ability to meet research and development milestones as planned and within proposed budgets; the Company’s ability to control costs; the Company’s ability to obtain adequate new financing on reasonable terms; the Company’s ability to initiate and successfully complete clinical trials and its ability to successfully develop PRP, its flagship product candidate; the Company’s ability to obtain and maintain patent protection; the Company’s ability to recruit employees and directors with accounting and financial expertise; the Company’s dependence on third parties for the services; the Company’s dependence on key managers; the impact of government regulations, including FDA regulations; the impact of any future litigation; the availability of capital; changes in economic conditions, competition; and other risks, including, but not limited to, those described in the company’s registration statement on Form S-1, Amendment No.5, filed with the United States Securities and Exchange Commission. United (the “SEC”) on November 3, 2020, and in the Company’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligation to update these statements, except as required by law.
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Investor and media relations:
Mr. James Nathanielsz
Propanc Biopharma, Inc.