Propanc Secures $100 Million for Crypto Treasury and Cancer Therapy Initiatives
Propanc Biopharma announced financing from Hexstone Capital to expand its digital asset portfolio and advance PRP cancer therapy research toward planned human trials in 2026.
Summary
Propanc Biopharma, a Nasdaq-listed biotech company, confirmed up to $100 million in funding from Hexstone Capital through the issuance of convertible preferred shares. The arrangement includes an initial $1 million investment and up to $99 million in subsequent funding over the next year. The capital will be used to build the firm’s digital asset portfolio and progress its PRP cancer therapy project, which is scheduled to enter human trials in 2026.
Terms & Concepts
- Crypto Treasury: A reserve of cryptocurrency holdings maintained by a company to diversify assets or hedge against traditional financial risks.
- Convertible Preferred Shares: A type of preferred stock that can be converted into a predetermined number of common shares, typically at the shareholder’s option.