Propanc Biopharma Secures up to $100 million for Crypto Treasury

Australia-based Propanc Biopharma has announced that it has secured $100 million from a crypto-focused family office to launch a crypto treasury — a move its CEO described as “transformative” as its cancer therapy product enters human trials next year. 

The private placement, structured through convertible preferred stock, provides Propanc with an initial $1 million investment and up to $99 million in follow-on funding over the next 12 months from Hexstone Capital, a family office that invests in several crypto treasury companies.

The cancer-treating biotech company stated that the proceeds will be used to build a digital asset treasury and accelerate the development of its lead cancer therapy, PRP, which aims to enter first-in-human trials in the second half of 2026.

Propanc CEO James Nathanielsz said the crypto treasury would assist a “transformative phase” for the company by strengthening its balance sheet and advancing its proenzyme-based oncology platform. 

“We can target not only patients suffering from metastatic cancer from solid tumors, but several chronic diseases based upon the mechanism of action of proenzyme therapy.”

While Propanc didn’t say which digital assets it plans to buy for its crypto treasury, Hexstone’s clients have invested in everything from Bitcoin (BTC), Ether (ETH), Solana (SOL), Injective (INJ) as well as some lesser-known cryptocurrencies.

Biotech companies adopting a crypto strategy

Propanc joins Sonnet BioTherapeutics, Sharps Technology and other biotech companies that have turned to crypto to reignite investor interest.