Biotech company Propanc raises $100 million for cryptocurrency reserves and cancer therapy research.

PANews reported on November 11th that, according to The Block, digital asset finance company Propanc Biopharma (NASDAQ: PPCB) announced on Monday that it has secured up to $100 million in funding from Hexstone Capital, a family office active in Bitcoin, Ethereum, Solana, Dogecoin, and other digital assets. The private placement was conducted through a convertible preferred stock structure, with Propanc receiving an initial investment of $1 million and up to $99 million in follow-on funding over 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 for its first human trial in 2026. CEO James Nathanielsz described the move as a "transformative phase" aimed at strengthening the company's balance sheet and funding its proenzyme-based research projects. The company did not specify which digital assets it plans to acquire. The funding news did not halt the decline in Propanc's stock price. On Monday, PPCB shares fell 4%, dropping below $1, and have now fallen 43% over the past month.

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