Propanc Raises $100M for Digital Assets and Cancer R&D
Propanc Biopharma, listed on Nasdaq, has secured up to $100 million in a securities purchase agreement with family office Hexstone Capital. Propanc received an initial $1 million and can draw the remaining $99 million over 12 months. The funding is structured as convertible preferred stock. Propanc will use the capital to acquire undervalued digital asset treasury (DAT) companies trading below net asset value and diversify its digital assets portfolio. It aims to grow its DAT to at least $100 million within a year and accelerate its proenzyme oncology program toward clinical trials. The deal underscores growing institutional interest in combining digital asset financing with biotech R&D. Hexstone’s existing cryptocurrency holdings include BTC, ETH, SOL, DOGE and INJ.
Bullish
This financing deal is likely bullish for the cryptocurrency market because it demonstrates strong institutional demand for digital assets. Short term, Propanc’s planned acquisitions of undervalued DAT companies could drive buying pressure on tokens like BTC, ETH, SOL, DOGE and INJ, boosting liquidity and market sentiment. Long term, the integration of digital asset financing into a Nasdaq-listed biotech firm’s strategy may encourage other firms to diversify their treasuries, reinforcing adoption and stability across crypto markets.