The Australian biotech firm plans to merge digital finance with oncology innovation as it prepares for human trials in 2026.
Propanc Biopharma, an Australia-based biotechnology company, has announced plans to establish a crypto treasury after securing up to $100 million in funding from Hexstone Capital, a crypto-focused family office. The financing marks a bold step for the biotech sector, signaling a growing intersection between blockchain-driven finance and biomedical innovation.
However, the market reaction has been cautious. Propanc’s stock (PPCB) dropped 10.5% on the Nasdaq following the announcement, extending a 46.7% monthly decline, according to exchange data. Analysts say investors are weighing the risks of volatility in crypto markets against the potential for long-term capital resilience.
The deal, structured through convertible preferred stock, provides an initial $1 million investment and up to $99 million in follow-on funding over the next year. Propanc said the capital will be used to develop its lead cancer therapy, PRP, and to diversify its balance sheet through digital assets.
CEO James Nathanielsz described the initiative as “a transformative phase for Propanc Biopharma,” explaining that the crypto treasury could stabilize funding while the company moves toward first-in-human clinical trials. “Our platform enables us to target not only patients with metastatic cancers but potentially a range of chronic diseases through proenzyme-based therapy,” Nathanielsz added.
Hexstone Capital, known for investing in firms managing digital asset treasuries, has previously allocated funds into Bitcoin, Ether, Solana, Injective, and other blockchain-based assets. Although Propanc hasn’t specified which cryptocurrencies it plans to hold, the move underscores an emerging biotech-crypto convergence that blends financial innovation with medical research.
Industry observers note that biotech firms adopting crypto strategies—including Sonnet BioTherapeutics and Sharps Technology—have sought to reignite investor confidence during tight funding cycles. Yet, the trend comes at a time when crypto treasury companies have faced steep valuation declines, with some forced to sell holdings amid liquidity pressures.
Still, experts suggest Propanc’s approach could pioneer a new model of biotech financing, where digital assets underpin critical medical innovation aimed at tackling diseases like cancer.
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