The Australian company is advancing its Proenzymes Optimization Project 1 joint research and drug discovery program towards producing commercial scale quantities of the two proenzymes, trypsinogen and chymotrypsinogen.

These two active pharmaceutical ingredients combine to form the company's lead product candidate, PRP. They are currently of animal origin.

Propanc's product candidate is targeting the global metastatic cancer treatment market, projected to be worth $111.2 billion by 2027, according to current analysis by Emergen Research.