Processa Pharmaceuticals is a clinical-stage biopharmaceutical company developing modified versions of existing chemotherapy drugs, which it calls Next Generation Cancer (NGC) therapies. Rather than discovering new cancer-fighting mechanisms, Processa takes established chemotherapy drugs and engineers them to change how the body metabolizes or distributes the drug — pushing more of the active cancer-killing compound into tumor cells while reducing exposure in healthy tissue, aiming to improve efficacy and reduce toxicity simultaneously. Processa's lead candidate, NGC-Cap, combines its proprietary compound PCS6422 with a lower dose of capecitabine, a widely used oral chemotherapy. PCS6422 inhibits the DPD enzyme, which normally inactivates most of the active cancer-killing agent (5-FU) and generates toxic byproducts that cause serious side effects in a majority of patients. By blocking DPD, NGC-Cap raises 5-FU exposure in tumors and reduces toxic byproducts, and is currently in a Phase 2 trial in advanced or metastatic breast cancer. A second oncology candidate, NGC-Iri, is a modified analog of the active metabolite of irinotecan designed to preferentially accumulate in tumor cells, but remains in preclinical development. Processa also holds two non-oncology assets it is looking to out-license rather than develop internally. Processa has no revenue and funds operations through equity and debt raises. Its future model would likely involve either direct commercialization or licensing its drug candidates to larger pharma companies in exchange for upfront payments, milestones, and royalties. Processa licenses the underlying compounds from third parties and relies on contract manufacturers for all clinical supply.