Australia-based Propanc Biopharma has announced it has secured up to $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.
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