Propanc Biopharma Secures Up to $100M to Build Crypto Treasury and Advance Cancer Therapy Trials

Quick Breakdown 

• Propanc Biopharma secured up to $100M from Hexstone Capital to fund a crypto treasury and cancer therapy development.
• PRP, its lead treatment for metastatic cancer, is slated to enter human trials in late 2026.
• Investor reaction was negative, with PPCB shares dropping 10.5% after the announcement.

 

Australia-based biotech firm Propanc Biopharma has lined up up to $100 million in funding from Hexstone Capital, a crypto-focused family office, as it prepares to push its lead cancer therapy into human trials.

Source: Propanc

The financing arrangement, structured as a private placement using convertible preferred stock, provides $1 million upfront, with the remaining $99 million made available over the next year.

Funding to support crypto treasury and cancer therapy development

Propanc said the funds will play a dual role in building a digital asset treasury, and accelerating the development of its proenzyme-based cancer therapy, known as PRP.

The company expects first-in-human trials for PRP to begin in the second half of 2026, targeting patients with metastatic solid tumors and potentially other chronic illnesses linked to proenzyme mechanisms.

Chief executive James Nathanielsz described the move as a “transformative phase”, suggesting the crypto treasury could strengthen the company’s balance sheet while supporting long-term clinical development.

Propanc did not disclose which digital assets it plans to accumulate, though Hexstone-backed firms typically hold Bitcoin, Ether, Solana, Injective, and lesser-known crypto assets.

Biotech firms turn to crypto to rekindle investor interest

Propanc is among a growing group of biotech companies including Sonnet BioTherapeutics and Sharps Technology that have adopted crypto treasury strategies to attract capital and boost market visibility.

However, the market reaction was immediate and cautious. Propanc’s stock (PPCB) fell 10.5% on Nasdaq following the announcement, according to Yahoo Finance data, signaling investor skepticism toward a biotech firm leaning into crypto during volatile market conditions.

Crypto treasuries face market pressure

Corporate crypto treasuries, particularly those built around Bitcoin, have struggled in recent months. Strategy the largest Bitcoin-holding corporation has seen its market cap drop over 43% since mid-year. Japan’s Metaplanet, once one of 2025’s standout Bitcoin treasury plays, is down more than 55% since June.

Several smaller treasury-focused firms have even been forced to sell BTC to cover liabilities. While Propanc’s move positions it within a trend of traditional companies adopting digital assets, the outcome will likely depend on market timing, crypto performance, and PRP’s clinical progress.

 

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