Propanc Biopharma’s Foundation Patent Granted in India

MELBOURNE, Australia (OTCQB: PPCB) (“Propanc”), a clinical stage biopharmaceutical company focusing on development of new and proprietary treatments for cancer patients suffering from solid tumors such as pancreatic, ovarian and colorectal cancers, today announced that Propanc’s foundation patent application has been granted by the Office of the Controller General of Patents, Design and Trademarks, India. The foundation patent, which covers the Company’s lead product candidate, PRP, pioneers the discovery of a pharmaceutical composition for treating cancer via a combination of trypsinogen and/or chymotrypsinogen pancreatic proenzymes. A report by PWC looking at prospects for growth, predicts that the Indian Pharmaceutical market will reach $50 Billion and become one of the sector’s top 10 markets in the world by 2020.
So far, the foundation patent has been granted in the USA, Europe (including Belgium, Czech Republic, Denmark, France, Germany, Ireland, Italy, the Netherlands, Portugal, Spain, Sweden, Switzerland/Liechtenstein, Turkey and the United Kingdom), China, Japan, Indonesia, Malaysia, Israel, Australia, New Zealand, Singapore, South Africa, Mexico, Republic of Korea, Hong Kong and more recently, India. It is presently under examination in Canada and Brazil.
“Building a robust patent portfolio has been a top priority in driving our drug development technology forward. Adding India to the growing list of countries where we have been granted patents reflects the strength of our growing IP portfolio for PRP,” said James Nathanielsz, Propanc’s Chief Executive Officer. “Historically, patent prosecution in this region is challenging, especially in the biopharmaceutical sector, but we believe the smooth process reflects the quality of our claims and the strength of our technology. We are very excited to have this key global region under patent protection and have only two jurisdictions remaining to attain global patent protection in all countries selected for prosecution.”
Source:https://apnews.com/d4d1f9454b1b4a169a6bdee87ec82cf0

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