White House Announces “Build Back Better Bill” for Lower Prescription Drug Costs for Americans
MELBOURNE, Australia–(BUSINESS WIRE)–Propanc Biopharma, Inc. (OTCQB: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel cancer treatments for patients suffering from recurring and metastatic cancer, today announced that its Chief Executive Officer, Mr. James Nathanielsz, believes the Company’s proenzyme therapy may become the healthcare solution of choice for treating cancerous solid tumors. As a result of remarks made by President Biden recently, the White House is determined to help millions of Americans protect and preserve their health, all by making the cost of prescription drugs much more reasonable. Under the “Build Back Better Bill” they plan to end the days when drug companies could increase their prices with no oversight and no accountability. Outrageous costs, affecting everyone across the board, spanning every kind of condition and disease. Mr. Nathanielsz agrees this approach to innovation by the pharma/biotech sector is long overdue and no longer can they set the drug price at whatever the market will bear. The sector must continue to find ways to innovate with new and improved drugs, but not at great expense to the patient. No longer can America afford to subsidize the rest of the world in healthcare.
Proenzymes are from naturally derived, bovine sources, extracted and purified to pharmaceutical standards. Thus, a ready-made commercial supply is available, significantly reducing the cost of goods compared to most groundbreaking cancer therapies which are scientifically engineered and tailored to patients on an individual basis, like immunotherapy. Additionally, no serious or severe side effects from proenzyme therapy have been observed to date, compared to standard treatments, which means patients are unlikely required to be admitted to ICU, or even potentially as an inpatient. This could significantly reduce the overall cost burden to the healthcare system and especially to the patient.
Mr. Nathanielsz believes that proenzyme therapy could become a long-term approach to the treatment and prevention of metastatic cancer from solid tumors, given the safety profile observed from clinical and non-clinical studies conducted, so far. Furthermore, the ready made commercially available supply of proenzymes make it a cost-effective treatment option due to a significantly lower cost of goods compared to other new approaches. According to the National Cancer Institute, roughly 1.9 million people were diagnosed with cancer and an estimated 608,750 deaths in 2021, and is quoted by the Center for Disease Control and Prevention as the second biggest cause of death for Americans in 2020. Therefore, any new, cost-effective treatment is expected to benefit from a much larger patient population, leading to potentially significant healthcare cost savings and a reduction in the overall healthcare cost burden.
“We continue to expend every effort to advance our proenzyme therapy, known as PRP, along the drug development pathway, as we are convinced not only of its benefits in providing a long-term treatment option for metastatic cancer, which remains the main cause of patient death for sufferers, but also because of the significant cost reduction potential which lowers the overall cost burden to the patient, their loved ones, and the system that provides healthcare services to patients,” said Mr. Nathanielsz.
Mr. Nathanielsz added, “We firmly believe that it is our duty to not only provide innovative healthcare solutions that return quality of life and dignity back to the patient, but also providing this option as a cost-effective, healthcare solution so that as many patients as possible can benefit from treatment. That is our determination and vision. The Build Back Better Bill announced by President Biden is a call out to all members of the pharma and biotech sector, my colleagues, to focus their innovation on lowering the cost of drugs that can not only benefit all Americans, but also the rest of the world. As Propanc Biopharma prepares PRP for a First-In-Human (FIH) study in advanced cancer patients, we are preparing to purchase the two key raw materials from our commercial supplier in order to manufacture the finished product for the upcoming clinical study. The pleasing aspect is the readymade commercial supply we’ve been able to purchase in kilogram quantities will be sufficient for the early-stage trials and is cost effective compared to most other novel treatment approaches.”
PRP is a mixture of two proenzymes, trypsinogen and chymotrypsinogen from bovine pancreas administered by intravenous injection. A synergistic ratio of 1:6 inhibits growth of most tumor cells. Examples include kidney, ovarian, breast, brain, prostate, colorectal, lung liver, uterine and skin cancers.
About Propanc Biopharma, Inc.
Propanc Biopharma, Inc. (the “Company”) is developing a novel approach to prevent recurrence and metastasis of solid tumors by using pancreatic proenzymes that target and eradicate cancer stem cells in patients suffering from pancreatic, ovarian and colorectal cancers. For more information, please visit www.propanc.com.
The Company’s novel proenzyme therapy is based on the science that enzymes stimulate biological reactions in the body, especially enzymes secreted by the pancreas. These pancreatic enzymes could represent the body’s primary defense against cancer.
To view the Company’s “Mechanism of Action” video on its anti-cancer lead product candidate, PRP, please click on the following link: http://www.propanc.com/news-media/video
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such 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 absent new debt or equity financings; the Company’s current reliance on substantial debt financing that it is unable to repay in cash; the Company’s ability to successfully remediate material weaknesses in its internal controls; the Company’s ability to reach 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 successfully initiate and complete clinical trials and its ability to successful develop PRP, its lead product candidate; the Company’s ability to obtain and maintain patent protection; the Company’s ability to recruit employees and directors with accounting and finance expertise; the Company’s dependence on third parties for services; the Company’s dependence on key executives; 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 periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law.
Contacts
Investor Relations and Media:
Mr. James Nathanielsz
Propanc Biopharma, Inc.
irteam@propanc.com
+61-3-9882-0780