MELBOURNE, Australia, Jan. 5, 2018 /PRNewswire/
-- Propanc Biopharma Inc. (OTCQB: PPCB) ("Propanc
Biopharma" or "the Company"), 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 the Company has repaid in full all outstanding debt to Magna Invests. Of the $4.7
million in senior secured debt originally borrowed from Magna Invests, a total of $507,080.62 in principal and accrued interest remained outstanding, which amount has now been repaid with the
net proceeds of a one-year, 8% unsecured convertible redeemable note in the principal amount of $532,434.65 issued to Eagle Equities, LLC, an existing investor of the Company. There is a six month holding
period until the note fully matures and becomes redeemable. The payoff to Magna Invests represents a positive first step towards
its goal of restructuring the debt on the Company's balance sheet, as it looks towards attracting long term investors to raise
capital for a First-In-Human study in 2018 and increasing the Company's investment and liquidity profile.
"I am pleased with the opportunity to repay all of our most onerous debt, including all outstanding secured debt, in full, as
it helps us gather some momentum in our efforts towards attracting long term investors to support our plans to progress our lead
product, PRP, into clinical trials," said James Nathanielsz, Propanc Biopharma's Chief Executive
Officer.
Currently progressing towards First-In-Human studies, PRP aims to prevent tumor recurrence and metastasis from solid tumors.
Eighty percent of all cancers are solid tumors and metastasis is the main cause of patient death from cancer. According to the
World Health Organization, 8.2 million people died from cancer in 2012. Consequently, a report by IMS Health states innovative
therapies are driving the global oncology market to meet demand, which is expected to reach $150
billion by 2020. The Company's initial target patient populations are pancreatic, ovarian and colorectal cancers,
representing an estimated combined market segment of $14 billion in 2020, according to GBI
Research.
To view Propanc Biopharma's "Mechanism of Action" video on anti-cancer product candidate, PRP, please click on the following
link: http://www.propanc.com/news-media/video
To be added to Propanc Biopharma's email distribution list, please click on the following link: http://ir.propanc.com/email-alerts and submit the online request
form.
About Propanc Biopharma:
Propanc Biopharma is a clinical stage biopharmaceutical company developing new cancer treatments initially for
patients suffering from pancreatic, ovarian and colorectal cancers. We have developed a formulation of anti-cancer compounds,
which exert a number of effects designed to control or prevent tumors from recurring and spreading throughout the body. Our
products involve or employ pancreatic proenzymes, which are inactive precursors of enzymes. In the near term, we intend to target
patients with limited remaining therapeutic options for the treatment of solid tumors. In future, we intend to develop our lead
product to treat (i) early stage cancer and (ii) pre-cancerous diseases and (iii) as a preventative measure for patients at risk
of developing cancer based on genetic screening. For more information, visit: www.propanc.com.
Forward-Looking Statements:
All statements other than statements of historical fact contained herein are "forward-looking statements" for purposes
of federal and state securities laws. Forward-looking statements may include the words "may," "will," "estimate," "intend,"
"continue," "believe," "expect," "plan" or "anticipate" and other similar words. Although we believe that the expectations
reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or
assumed. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to
change and to inherent risks and uncertainties including those regarding our earnings, revenues and financial condition, our
ability to implement our plans, strategies and objectives for future operations, our ability to execute on proposed new products,
services or development thereof, our ability to establish and maintain the proprietary nature of our technology through the
patent process, our ability to license from others patents and patent applications, if necessary, to develop certain products,
our ability to implement our long range business plan for various applications of our technology, our ability to enter into
agreements with any necessary manufacturing, marketing and/or distribution partners for purposes of commercialization, the
results of our clinical research and development, competition in the industry in which we operate, overall market conditions, and
any statements or assumptions underlying any of the foregoing. Other risks, uncertainties and factors that could cause actual
results to differ materially from those projected may be described from time to time in reports we file with the Securities and
Exchange Commission, including our reports on Forms 10-K, 10-Q and 8-K. We do not intend, and undertake no obligation, to update
any forward-looking statement contained herein, except as required by law.
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SOURCE Propanc Biopharma