MELBOURNE, Australia, Sept. 29, 2026 (GLOBE NEWSWIRE) -- Propanc Biopharma, Inc. (NASDAQ:PPCB) ("Propanc" or the "Company"), a biopharmaceutical company focused on developing novel treatments for chronic diseases, including recurrent and metastatic cancer, today announced an update on corporate progress and reported year-end financial results as of June 30, 2026 (Year end June 30).

CORPORATE HIGHLIGHTS

To commence a world-first Phase 1b FIH study of PRP in Q1, 2027

The multicenter, open-label study will enroll up to 50 patients with advanced solid tumors, including pancreatic, ovarian, and refractory prostate cancers, at trial centers across Australia. The two-part design, dose escalation (Part A) followed by dose expansion (Part B), is intended to evaluate the safety, tolerability, pharmacokinetics (PK), pharmacodynamics (PD), and preliminary antitumor activity of PRP.

Several workstreams are advancing in parallel to support study start:

Manufacturing: GMP manufacture of finished drug product is underway. A small-scale technology transfer run has been completed. Two scale-up runs are scheduled this month, with an engineering run planned for late October. Raw drug substance supply for the PRP formulation is secured after recent audit and vendor qualification processes were successfully completed.
Bio-analytics: PK method validation has commenced. Development of an anti-drug antibody assay is underway, and in-use stability testing of the finished PRP formulation is scheduled.
Regulatory and ethics: Supporting documentation for Human Research Ethics Committee (HREC) submission is in preparation, including the Investigator’s Brochure (IB), a briefing document drawn from the IB, and the clinical trial protocol. Documents will be provided to investigators at Australian trial sites for feasibility assessment ahead of the planned HREC submission in November 2026.

PRP will be administered as a weekly intravenous infusion on Days 1, 8, 15, and 22 of each 28-day cycle. Treatment may continue until a withdrawal criterion is met.

Compelling new preclinical and early translational data for its lead candidate PRP in pancreatic ductal adenocarcinoma (PDAC)

In orthotopic and patient-derived xenograft (PDX) models of advanced PDAC, three-times-weekly intravenous PRP achieved:

Greater than 90%, mean, tumor growth inhibition versus vehicle controls (p < 0.001).
Marked reduction in metastatic burden in the liver and peritoneum.
Significant remodeling of the tumor microenvironment, including decreased cancer-associated fibroblast activity, reduced fibrosis, and suppression of epithelial-mesenchymal transition (EMT) markers.
Enhanced sensitivity of chemo-resistant PDAC cells to standard-of-care gemcitabine/nab-paclitaxel, supporting lower chemotherapy doses with improved efficacy.
Median overall survival extension of more than 2.5-fold in treated animals compared with controls.

Results were built on previously reported >85% tumor growth inhibition data and peer-reviewed findings on PRP’s effects on PDAC fibroblasts. Limited prior compassionate-use experience with related proenzyme formulations has shown signals of prolonged survival in advanced solid-tumor patients with a favorable safety profile and no severe treatment-related adverse events.

Memorandum of Understanding (MOU) with Avance Clinical Pty Ltd

The MOU sets out the shared intent of Propanc and Avance to work together to support the clinical delivery of Propanc’s Phase 1b, FIH clinical study for PRP. Importantly, both parties intend to approach the collaboration in a spirit of openness, scientific rigor, and shared problem-solving with the goal of advancing PRP efficiently from FIH into Proof-of-Concept and, as data supports, later-phase development. Avance Clinical is a full-service Contract Research Organization (CRO) headquartered in Australia, with extensive operations across North America, Asia Pacific, New Zealand and Europe. With more than 30 years of experience leading early phase clinical trials, they leverage the unique advantages of the Australian market, including rapid ethics approval, and up to 43.5% off with the Australian R&D tax rebate, to provide biotech companies with an accelerated pathway to clinical success.

Contract and Development Manufacturing Organization (CDMO) for GMP manufacture of PRP

The Spanish based CDMO provides end-to-end services for preclinical and clinical projects, with extensive experience in biologics production (plasmid DNA and recombinant proteins) providing services of cell line generation, banking and characterization, analytical development, process development and batches production of both drug substances and drug products. Management are pleased to undertake this pivotal step for GMP production of PRP for the upcoming Phase 1 FIH clinical study.

Service Agreement with FyoniBio GmbH to Establish & Validate Pharmacokinetics Assay for Phase 1b FIH Study

Management has executed a service agreement with FyoniBio GmbH (formerly Glycotope, est. 2010), a German Contract Development Organization (CDO) based in Berlin for establishing and validating a liquid chromatography-mass spectrometry (LC-MS) based pharmacokinetics (PK) assay. The objective is to quantify the Company’s lead asset, PRP, consisting of two proenzymes trypsinogen and chymotrypsinogen, as well as their activated enzyme forms trypsin and chymotrypsin from human serum during the Phase 1b FIH study.

Multi-Yr, Anti-Aging & Cancer Research Collaboration with the Universities of Jaén & Granada, Spain

A multi-year Joint Research Collaboration Agreement has been established with the Universities of Jaén (UJA) and Granada (UGR), Spain. The collaboration involves the evaluation of a senescence-modulating (i.e., anti-aging) compound to mitigate senescence and to complete experiments to further support the claims of recently filed fibrosis and cancer related patent applications, requested by Propanc to UJA’s research group "Biological Technologies of The University of Jaén" and UGR’s Research Group, "Advanced Therapies: Differentiation, Regeneration and Cancer."

FINANCIAL HIGHLIGHTS

Proceeds raised

In the 2025-26 financial year totaled $7.5 million, gross proceeds.

Closed an underwritten public offering

1,000,000 shares at $4.00 per share, raising gross proceeds of $4.0 million. Propanc’s common stock began trading on the Nasdaq Capital Market on August 15.

Entered into a private placement agreement for up to $100 million to accelerate clinical development

Received an initial $1,000,000 investment upon issuance of 100 shares of Series C, Convertible Preferred Stock. As of June 30, a further $3,000,000 investment was received upon exercise of 100 shares of Series C, Convertible Preferred Stock.

Commenced a share repurchase program authorizing the Company to repurchase up to $5.0 million of its common stock

The Company completed the first tranche of $500,000 within the first 30 days since of commencing its share repurchase program.

Year-end Financial Summary (Quarter Ended June 30, 2026)

Total assets: $12.78 million
Total liabilities reduced by $2.20 million
Convertible notes reduced to $0 (from $538,000)
Net cash from financing activities: $6.46 million
Quarter-end cash: $832,006
A further $2.0 million from the Series C facility received (post June 30)

The Company expects the financing facility to continually support planned R&D activities, including advancement of PRP and Rec-PRP.

Management Commentary

"The Propanc Executive team are delighted with advancements made in the past financial year," said Mr. James Nathanielsz, Propanc’s Chief Executive Officer. "The Company is poised to capitalize on the foundation set in the next financial year with the advancement of PRP to a Phase 1b FIH study in up to 50 advanced cancer patients with solid tumors such as pancreatic, ovarian and refractory prostate cancers. Recent clinical advancements observed by companies such as Revolution Medicines and Erasca through KRAS inhibitors for pancreatic cancer are groundbreaking and tremendously exciting, but there is more work to be done to eliminate recurrence and metastasis in patients suffering from this killer disease. PRP is a potential breakthrough therapy that modulates the tumor micro-environment by targeting the EMT (epithelial-mesenchymal transition) process, which drives metastasis, invasion and recurrence from CSCs (cancer stem cells) which often lie dormant, post treatment, causing the cancer to return and spread. By eliminating this threat, not only can PRP improve survival, but is also non-toxic to healthy cells, meaning that patients could have a better quality of life, as well as enhance more durable response rates in combination with other treatments such as chemotherapy, checkpoint inhibitors, or KRAS inhibitors. We look forward to executing our scientific and clinical research activities in the 2026-2027 financial year."

About Propanc Biopharma, Inc.

Propanc Biopharma, Inc. (NASDAQ:PPCB) is developing a novel approach to preventing cancer recurrence and metastasis by targeting and eradicating cancer stem cells through proenzyme activation. The Company’s lead product candidate, PRP, is designed to address the underlying drivers of cancer proliferation and spread.

More information: www.propanc.com

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors, made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expect," "intend," "plan," "project," "believe," "estimate," and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Forward-looking statements are not guarantees of future actions or performance. Actual results may differ materially from those in the forward-looking statements because of several factors, including, without limitation, risks and uncertainties related to market conditions, as well as those risks described under "Risk Factors" in the prospectus related to the proposed offering and those described in the Company’s filings with the SEC. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

Company:

Propanc Biopharma, Inc.

James Nathanielsz

+61-3-9882-0780

info@propanc.com

Investor Contact:

irteam@propanc.com

Clinical Research Activity for PRP		Timeline
CTA		April 2025 – September 2026

Phase Ib Clinical Study Protocol
Investigator’s Brochure
CTA Compilation		October 2026 – November 2026
CTA Submission		November 2026
CTA Approval		February 2027
CTA Review		January 2027 – February 2027
Contract Research Organization and Contracts		February 2027 – March 2027
Analytical Laboratory Selection and Contracts
Trial Site Selection and Contracts
Preparation of Logistics		February 2027 – March 2027
Trial Site Initiation Visits
First Patient/First Visit		April 2027

PROPANC BIOPHARMA, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS


	June 30, 2026			June 30, 2025

ASSETS

CURRENT ASSETS:
Cash	$	832,006		$	12,088
GST tax receivable		13,694			5,302
Prepaid expenses - current portion		7,661,967			8,334,046
Other current assets		34,923			1,380

TOTAL CURRENT ASSETS		8,542,590			8,352,816

Deferred offering costs		-			291,773
Prepaid expenses - long-term portion		4,190,543			10,925,835
Security deposit - related party		2,074			1,971
Operating lease right-of-use assets, net - related party		40,790			59,413
Property and equipment, net		3,915			-

TOTAL ASSETS	$	12,779,912		$	19,631,808

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:
Accounts payable	$	1,131,429		$	1,249,596
Accrued expenses and other payables		855,350			1,486,550
Accrued interest		128,318			190,795
Loans payable		-			65,280
Loans payable - related parties, net of discount		460,809			415,329

Notes payable, net of discount		-			543,312
Convertible notes, net of discounts and including put premiums		-			537,921
Operating lease liability - related party, current portion		24,489			17,664
Embedded conversion option liabilities		-			403,892
Employee benefit liability		754,038			667,901

TOTAL CURRENT LIABILITIES		3,354,433			5,578,240

NON-CURRENT LIABILITIES:
Loan payable - long-term - related party, net of discount		-			105,627
Operating lease liability - long-term portion - related party		23,818			41,749

TOTAL NON-CURRENT LIABILITIES		23,818			147,376

TOTAL LIABILITIES	$	3,378,251		$	5,725,616

Commitments and Contingencies (See Note 9)

STOCKHOLDERS’ EQUITY:
Preferred stock, 1,500,005 shares authorized, $0.01 par value:
Series A preferred stock, $0.01 par value; 500,000 shares previously authorized; 0 shares issued and outstanding as of June 30, 2026 and 2025	$	-		$	-
Series B preferred stock, $0.01 par value; 5 shares authorized; 1 share issued and outstanding as of June 30, 2026 and 2025		-			-
Series C preferred stock, $0.01 par value, $10,000 stated value; 5 shares authorized; 9,900 shares designated and authorized, 200 (liquidation value of $2,000,000) shares and none issued and outstanding at June 30, 2026 and 2025, respectively		2			-

Common stock, $0.001 par value; 10,000,000,000 shares authorized; 3,310,827 and 464,471 shares issued and outstanding as of June 30, 2026 and 2025, respectively		3,310			464
Common stock issuable (487,939 and 310 shares as of June 30, 2026 and 2025, respectively)		487			-
Additional paid-in capital		152,752,314			138,254,808
Accumulated other comprehensive income		1,176,255			1,318,917
Accumulated deficit		(144,484,230	)		(125,621,520	)
Treasury stock ($0.001 share)		(46,477	)		(46,477	)

TOTAL STOCKHOLDERS’ EQUITY		9,401,661			13,906,192

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	12,779,912		$	19,631,808

PROPANC BIOPHARMA, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

	For the years ended June 30,
	2026			2025

REVENUE
Revenue	$	-		$	-

OPERATING EXPENSES
Administration expenses		670,607			108,950
Compensation and related taxes		2,275,937			23,296,390
Professional and consulting expenses		14,572,616			33,622,510
Occupancy expenses - related party		40,932			26,560
Research and development		625,477			223,721
TOTAL OPERATING EXPENSES		18,185,569			57,278,131

LOSS FROM OPERATIONS		(18,185,569	)		(57,278,131	)

OTHER INCOME (EXPENSE)
Interest expense		(430,539	)		(563,757	)
Interest income		161			9
Derivative expense		-			(333,596	)
Change in fair value of derivative liabilities		13,709			212,450
Change in fair value of warrant liability		(99,695	)		-
Other expense		(6,000	)		-
Settlement expense		(320,000	)		-
Gain (loss) on extinguishment of debt, net		133,071			(871,032	)
Foreign currency transaction gain (loss)		32,152			(89,243	)
TOTAL OTHER INCOME (EXPENSE), NET		(677,141	)		(1,645,169	)

LOSS BEFORE TAXES		(18,862,710	)		(58,923,300	)

Tax benefit		-			-

NET LOSS	$	(18,862,710	)	$	(58,923,300	)

Deemed Dividend		(932,246	)		-

NET LOSS AVAILABLE TO COMMON STOCKHOLDERS	$	(19,794,956	)	$	(58,923,300	)

BASIC AND DILUTED NET LOSS PER SHARE	$	(17.62	)	$	(371.22	)

BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING		1,123,709			158,727

NET LOSS AVAILABLE TO COMMON STOCKHOLDERS	$	(19,794,956	)	$	(58,923,300	)

OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized foreign currency translation gain (loss)		(142,662	)		49,336

TOTAL OTHER COMPREHENSIVE INCOME (LOSS)		(142,662	)		49,336

TOTAL COMPREHENSIVE LOSS	$	(19,937,618	)	$	(58,873,964	)