Propanc Biopharma is a clinical-stage biopharmaceutical company developing treatments for advanced solid tumor cancers, focusing primarily on pancreatic and ovarian cancers. The company's lead candidate, PRP, is an intravenous injection that combines two pancreatic proenzymes, trypsinogen and chymotrypsinogen. PRP targets cancer stem cells through differentiation therapy, pushing abnormal cells toward a normal state to stop proliferation and prevent tumor recurrence and metastasis. Propanc is also developing POP1, a backup research program to create a synthetic recombinant version of the proenzymes. Propanc outsources its research and clinical development to contract research organizations, academic partners, and third-party manufacturers. The company's business model centers on conducting early clinical development, specifically Phase Ib and Phase IIa proof-of-concept studies. Propanc plans to license PRP to larger pharmaceutical companies for late-stage clinical trials, regulatory approval, and commercialization in exchange for milestone payments and royalties.