Biotech company Propanc raises $100 million for crypto reserves and cancer therapy development

Jinse Finance reported that Australia-based Propanc Biopharma (NASDAQ: PPCB) announced on Monday that it has secured up to 100 million dollars in financing from Hexstone Capital. Hexstone Capital is a family office active in the fields of bitcoin, ethereum, solana, dogecoin, and other digital assets. This private placement deal, structured through convertible preferred shares, provides Propanc with an initial investment of 1 million dollars and up to an additional 99 million dollars in follow-up financing over the next year. The proceeds will be used to build Propanc's digital asset portfolio and accelerate the development of its leading tumor therapy, PRP, which is currently targeted for its first human trial in 2026. CEO James Nathanielsz described this move as a "transformational phase," though the company did not specify which digital assets it plans to acquire.