Propanc, The Aussie Biotech, Turns To Crypto To Tackle Cancer

Propanc Biopharma said it has struck a deal to raise up to $100 million to build a digital asset treasury that will support its cancer-treatment program. Based on reports, the arrangement with Hexstone Capital begins with an initial injection of $1 million and gives the investor the option to provide as much as $99 million more over the next 12 months.

Deal Terms And Funding Plan

The Australian biotech’s move is meant to boost cash on hand and add optional sources of value beyond ordinary equity sales. Reports have disclosed the agreement is a private placement of convertible preferred stock. Propanc’s ticker is PPCB.

While the total deal could reach $100 million, Propanc will start with an initial $1 million investment. The remaining $99 million is expected to come in stages over the next 12 months, depending on conditions and timing, which will determine how quickly the company can turn the pledged funds into actual crypto assets.

Crypto Holdings And Risk Controls

Propanc has not listed the exact digital assets it plans to buy. According to observers, Hexstone’s past investments have included Bitcoin, Ether and Solana, which suggests the treasury could include major tokens along with other assets.

The prices of cryptocurrencies are highly volatile, and the value of any digital assets purchased by Propanc can see extreme fluctuations. Immediately after the announcement, some investors reportedly sold shares, lowering the market value of the company.

According to reports, Propanc has yet to disclose any details on custody arrangements, valuation methods, or policies for managing potential losses in its crypto holdings.

Alongside the crypto plan, Propanc is continuing work on its lead therapy, known as PRP, a proenzyme-based treatment aimed at solid tumors and metastatic disease. According to company statements, the drug candidate is moving toward regulatory filings and the team expects to begin first-in-human (Phase One) trials in 2026.

The therapy remains at an early stage, which means clinical results will be the main driver of long-term value for patients and shareholders alike.

The move reflects a trend of smaller biotech companies seeking funding beyond traditional capital markets. A crypto treasury could provide additional assets and flexibility for the company.

At the same time, analysts note that it may introduce extra market, tax, and regulatory challenges. Reports indicate observers are monitoring how Propanc plans to manage the acquisition, storage, and accounting of its digital assets.

Featured image from Unsplash, chart from TradingView