Propanc Biopharma announced it received notification of acceptance for its lead patent application from the Chinese Patent Office.
Propanc Biopharma (OTCQB:PPCB) announced it received notification of acceptance for its lead patent application from the Chinese Patent Office.
As quoted in the press release:
The acceptance of this key patent application is a first in China, representing yet another significant milestone for the Company, as it progresses its lead product, PRP, towards First-In-Human studies. Given that China accounts for more than 20% of the world’s population, significant growth in this pharmaceutical market is anticipated due to greater healthcare coverage for a rising middle class. The Company is considering filing a divisional application with the Chinese Patent Office to pursue additional claims based off the initial accepted application.
“Acceptance of our first Chinese patent is a significant achievement for our Company, and indicates the strong growth of intellectual property portfolio worldwide,” said James Nathanielsz, Propanc Biopharma’s Chief Executive Officer. “We continue to advance a number of different patent applications in key regions around the world. This provides a solid foundation for future licensing discussions. By having major regions and territories covered, it means we have greater flexibility selecting strategic partners, either by global reach, or local market penetration.”