Biotech firm Propanc lines up $100 million to fund crypto treasury and cancer therapy push
Propanc Biopharma secured up to $100 million in financing to build a digital asset portfolio and advance its PRP cancer therapy.Summary
Australia-based Propanc Biopharma (PPCB) secured up to $100 million in financing through a private placement structured via convertible preferred stock from Hexstone Capital, a family office active in digital assets. The deal provides an initial $1 million, with up to $99 million available over the next year. The funds will be used both to build the company's digital asset portfolio and to accelerate research and development for its lead oncology therapy, PRP, which is targeting first-in-human trials in 2026. CEO James Nathanielsz described the move as a "transformative phase" to strengthen the balance sheet. This follows a trend where several small biotechs are embracing crypto treasuries amid tightening capital markets, although the funding news did not immediately stop Propanc's stock decline.
(Source：The Block)