Propanc Biopharma has successfully completed a $4 million initial public offering and Nasdaq listing, setting the stage for its novel cancer treatment PRP to enter Phase 1B human trials in 2026. The Melbourne-based biopharmaceutical company announced the milestone as part of a comprehensive shareholder update detailing its clinical development strategy for treating recurring and metastatic cancers.
Novel Mechanism Targets Cancer Stem Cells
PRP represents a unique approach to cancer treatment, consisting of a synergistic 1:6 ratio mixture of two proenzymes—trypsinogen and chymotrypsinogen—derived from bovine pancreas and administered by intravenous injection. The drug acts as an "EMT (epithelial to mesenchymal transition) modulator" that reprograms cancer cells so they are no longer malignant and die naturally, according to the company.
The treatment has demonstrated activity against multiple cancer types in preclinical studies, including pancreatic, ovarian, kidney, breast, brain, prostate, colorectal, lung, liver, uterine, and skin cancers. Notably, PRP is designed to avoid the severe side effects associated with standard cancer treatments.
Clinical Development Timeline
The upcoming Phase 1B first-in-human study will enroll 30-40 advanced cancer patients suffering from malignant solid tumors, with the primary objective of identifying the maximum tolerated dose. Propanc plans to submit the clinical trial application by the first half of 2026, with the study to be conducted at Peter Mac Cancer Center in Australia, which ranks among the top 20 oncology centers globally according to Oncology Republic.
Following successful completion of the 12-month Phase 1 study, the company intends to initiate two 18-month Phase 2 studies evaluating PRP's safety and efficacy in up to 60 patients each. These studies will focus on locally advanced or metastatic pancreatic adenocarcinoma and advanced epithelial ovarian cancer patients who have failed prior anticancer therapy regimens.
Regulatory and Manufacturing Preparations
Current clinical development activities include validation of a pharmacokinetics method using liquid chromatography mass spectrometry to detect concentration changes of PRP's active ingredients at clinically relevant doses. The company is also preparing regulatory documentation including the Investigational Medicinal Product Dossier, Study Protocol, and Investigator's Brochure, alongside manufacturing the finished PRP formulation for clinical use.
Backup Compound Development
Propanc is simultaneously developing Rec-PRP, a fully synthetic recombinant version of its lead compound designed to offer better stability and longer shelf life for global distribution. The backup compound is scheduled to commence pharmacology studies in the first quarter of 2026, followed by safety toxicology studies comparing its efficacy and safety profile to the naturally derived PRP formulation.
Market Opportunity and Financial Position
The combined market size forecast for PRP's selected target therapeutic indications in pancreatic and ovarian cancers is projected to reach $18.1 billion in 2029, according to Grandview Research and iHealthcareAnalyst. Since inception, Propanc has raised approximately $30 million, with the recent IPO providing $4 million in gross proceeds before expenses.
"The Propanc management team are excited to achieve our goal of completing our initial public offering and up-listing to Nasdaq, which will help advance PRP into the clinic," said James Nathanielsz, the company's Chief Executive Officer. "We are also exploring opportunities to strengthen the Company's financial position and create long term value for our shareholders."
The company recently expanded its leadership team with the appointment of a Chief Financial Officer and two Non-Executive Directors, bringing expertise in finance, corporate governance, R&D, manufacturing, and regulatory affairs. Propanc intends to pursue strategic collaborations to finance and advance its assets along the development pathway to future R&D milestones where significant commercial value may be realized.
