Biotechnology company Propanc raises $100 million in funding for Crypto Assets reserves and cancer therapy development.

According to Mars Finance, Propanc Biopharma (NASDAQ: PPCB), a digital asset financial company, announced on Monday that it has secured up to $100 million in financing from family office Hexstone Capital, which is active in the fields of Bitcoin, Ether, Solana, DOGE, and other digital assets. This private sale transaction is structured through convertible preferred shares, with Propanc receiving an initial investment of $1 million and up to $99 million in follow-on funding within the next year. The proceeds will be used to build Propanc's digital asset portfolio and accelerate the development of its flagship oncology therapy PRP, which is currently planned to undergo its first human trial in 2026. CEO James Nathanielsz described this move as a “transformational phase” aimed at strengthening the company's balance sheet and providing funding support for its enzyme-based research projects. The company did not specify which digital assets it plans to acquire. The financing news did not stop the decline in Propanc's stock price, which fell 4% on Monday, dropping below $1, with a cumulative decline of 43% over the past month.