Biopharma Pioneers Crypto Treasury to Fuel Cancer Research
In a bold move that merges the worlds of biotech and blockchain, several biopharmaceutical companies are embracing cryptocurrency strategies to fund research and development. Propanc Biopharma, an Australia-based biotech firm focusing on cancer therapies, has announced a groundbreaking initiative to establish a crypto treasury, backed by a crypto-focused family office.
Propanc Biopharma has secured up to $100 million through a private placement with Hexstone Capital, a family office specializing in digital assets, to fund its digital asset acquisition strategy and R&D pipeline. The funding will be distributed through convertible preferred stock, with an initial investment of $1 million already deployed and the potential for up to $99 million in follow-on funding over the next year. Propanc plans to allocate these funds towards the clinical advancement of its lead product, PRP, which focuses on proenzyme-based oncology therapies and is aimed to enter first-in-human trials by the latter half of 2026.
This strategy represents a significant departure from traditional biopharma financing models, which typically rely on equity dilution or debt. By leveraging digital assets, Propanc aims to reduce its dependence on volatile equity markets while maintaining operational flexibility, a crucial advantage in the high-stakes realm of oncology R&D. CEO James Nathanielsz, emphasized that the crypto treasury would accelerate the development of innovative cancer treatments.
Propanc's approach involves acquiring Ethereum (ETH) to supplement funding, de-risk the pre-revenue period, and enable future asset tokenization. The company is targeting a $100 million ETH acquisition over the next 12 months while simultaneously advancing its cancer therapy IP.
Other companies are also exploring digital asset strategies. MEI Pharma, a publicly traded pharmaceutical company, completed a $100 million private placement to convert into a company that owns a Litecoin treasury. Charlie Lee, the founder of the Litecoin Foundation, led this fundraising round along with digital asset market maker GSR, and will join the board of directors of MEI. ETHZilla (NASDAQ:ETHZ) raised $425 million through private placement and $156 million via convertible notes to fuel an Ethereum-centric treasury. BTCS, Inc. (NASDAQ:BTCS) is accumulating Ethereum for operational security and yield, while QuantumBioPharma Ltd. (CSE:QNTM) holds approximately CAD$4.5 million in cryptocurrencies.
Despite the enthusiasm surrounding Propanc's announcement, its shares experienced a decline, reflecting mixed investor sentiment. The inherent volatility of crypto markets and the evolving regulatory landscape present potential challenges for biopharma companies venturing into this space.
Propanc Biopharma is developing treatments for recurring and metastatic cancer, focusing on pancreatic proenzymes that target cancer stem cells in patients with pancreatic, ovarian, and colorectal cancers. The company completed its initial public offering and began trading on Nasdaq on August 14, 2025.
Propanc's combined focus on advanced oncology IP and a pioneering crypto treasury signals a potential shift in how early-stage biotechs approach risk, funding, and asset growth. As more companies explore decentralized asset management, the outcomes from Propanc's model could inform a new playbook for scientific innovation and corporate resilience, potentially influencing how breakthroughs reach the clinic and market.
