Propanc Health Group Corp (OTCMKTS:PPCH) a rising healthcare firm stated that it generated capital of $468,500 from leading institutional investors, with $532,500 in additional fund commitments. The funds generated through new financing will support completion of the next phase of animal trials. These studies are vital to start with human studies and initiation of licensing meetings for its lead product, PRP.
Propanc Health said that the ongoing animal trials are necessary as the company is assessing I.V administration of PRP. The CSO Dr Julian Kenyon stated that the research team hopes that the medication will yield a more effective anti-cancer action by increasing contact of the drug to tumors. The I.V. route of administration is different from a proenzyme cure by suppository for compassionate use. With the new medication, the terminally ill patients can opt for self-administer treatment. The new drug gets easily absorbed by the blood and prevents breakdown in the gut.
The valuable data
Professor Klaus Kutz, the CMO of Propanc Health stated that the ongoing trials will result in valuable data related to the acceptability and safety of PRP. It will even assess efficacy as medication is given through I.V Injection. The retrospective review of patients suggested that a proenzyme medication has the ability to considerably extend life. The treatment do not results in serious side effects that are normally witnessed with standard therapies. Propanc is determined to completely assess the performance of the drug candidate in animals before starting human trials.
Propanc Health Group was afloated by trading pattern of its stock in past few weeks, following which several analysts examined the Company’s future plans closely. James Nathanielsz, the CEO, stated that the management welcome analysis from experts and agree investors should scrutinize firm’s operations before making an investment decision.
In Friday’s trading session, Propanc Health Group Corp (OTCMKTS:PPCH) stock declined 9.09% to close at $0.0140 with 8.97 million shares traded.