Australia-based Propanc Biopharma has today announced a major new funding strategy. It says it has obtained up to $100 million from a crypto-focused family office to launch a dedicated crypto treasury. The CEO called it “transformative”. This capital boost is designed to further its possible treatment for cancer, PRP, in the lead-up to human trials.
Propanc entered into a Private Placement Agreement with Hexstone Capital LLC. Hexstone is a family office that specializes in digital asset treasury companies. The agreement includes an initial $1 million investment via convertible preferred stock. The balance of $99 million is available through warrants over the next twelve months. This capital will accelerate the development of its lead cancer therapy, PRP.
Crypto Funding Model Faces Investor Caution
The funds will be used both to build the company’s digital asset portfolio, as well as to accelerate its research pipeline. Propanc’s proenzyme therapy is designed to treat recurrent and metastatic cancer. First-in-human trials are slated to begin in the latter half of 2026. CEO James Nathanielsz said this new model will strengthen the balance sheet. He feels that it revolutionizes how the company funds its growth.
However, the company’s stock, PPCB, fell as much as 10.5% on the Nasdaq in after-market trading following the announcement. It reflects some investor wariness about the injection of volatile crypto assets into more traditional industries. Analysts said the strategy is becoming more common by smaller biotechs as they look for sources of non-dilutive capital amid tightening funding markets.
Ethereum Leads Growth Amid Broader Market Trends
The news comes amidst a larger readjustment of the crypto market. Recently alone, more than $250 million worth of short positions were liquidated across major cryptocurrencies. This forced buy-back wave led to a sudden increase in the prices of virtual assets. A movement like this is indicative of changing capital dynamics.
Meanwhile, Ethereum’s blockchain continues to lead in stablecoin growth. According to on-chain analytics firm Artemis, its net stablecoin supply grew by some $84.9 billion in the last year alone-a figure considerably larger than that of other networks like Solana and Tron. The sustained boom is a testament to Ethereum’s leadership in DeFi.
Bitcoin Treasury Companies Face Market Decline
This, in turn, can be expected to significantly lower the network fees. It will also enable more use cases across the lending and tokenized asset ecosystems. Moreover, the possibility of leveraged spot trading being introduced in the U.S. suggests that more institutions might enter into the crypto market soon.
Despite these positive infrastructure trends, the crypto strategy at the treasury has been poor lately. The market value has significantly plummeted in companies holding Bitcoin in their treasuries. Strategy, the largest corporate Bitcoin holder, has slid more than 43% regarding its market cap. Additionally, Metaplanet, a top performer on the Tokyo Stock Exchange, has fallen about 55% since the late June period. Some firms have also been compelled to offload their BTC holdings to service outstanding debt.
The funding commitment in Propanc balances innovation with financial discipline, where the release of capital is determined incrementally by clinical progress. This is a step aimed at apportioning resources toward cancer research, and this will minimize speculation risks associated with the volatile digital asset market.