Propanc Biopharma shares surge 21.36% premarket after securing $100M private placement for digital asset strategy and R&D acceleration.

Propanc Biopharma surged 21.36% in premarket trading following the announcement of a $100 million private placement with Hexstone Capital, a digital asset-focused family office. The deal includes an immediate $1 million initial investment via Series C convertible preferred stock and 9,900 warrants exercisable at $10,000 per share, totaling up to $99 million in potential funding. The proceeds will accelerate the company’s R&D pipeline for its lead candidate PRP, targeting a First-In-Human study by mid-2026, while building a digital asset treasury. CEO James Nathanielsz emphasized the transformative impact of the funding on strengthening the balance sheet and advancing proenzyme technology, signaling confidence in the company’s dual strategy of clinical development and digital asset acquisition. The transaction, disclosed in an 8-K filing, aligns with Propanc’s shift toward leveraging digital assets to fund growth, addressing prior concerns about liquidity and operational scalability.