Propanc Biopharma announced a strategic initiative to acquire public digital‑asset treasury companies trading below their market‑cap‑to‑net‑asset‑value ratios. The company aims to strengthen its balance sheet and diversify its asset base while continuing development of its lead proenzyme therapy for recurrent and metastatic cancer.
Bitcoin‑treasury firms collectively hold about $76.9 billion in Bitcoin, and Ethereum‑treasury firms hold roughly $17.6 billion in Ethereum. Propanc’s board is evaluating targets that meet its criteria of undervaluation and strong balance‑sheet health, and the company has begun due‑diligence on several potential acquisitions.
The initiative follows a significant financial turnaround for Propanc. Total assets rose from approximately $72,000 at the end of 2024 to $19.6 million by June 30 2025, largely due to prepaid service contracts, and stockholders’ equity improved markedly after the company’s IPO and uplisting to Nasdaq in August 2025.
CEO James Nathanielsz said the move is intended to provide liquidity and financial flexibility that could support the pre‑revenue biopharmaceutical pipeline. He also noted that the company has previously expressed interest in digital assets, citing a plan to acquire $100 million of Ethereum in September and a broader digital‑asset treasury strategy in October.
Management acknowledged potential headwinds, including the volatility of digital‑asset markets and the risk of diverting resources from core research activities. The company plans to integrate any acquired treasury operations with its existing financial controls and to monitor regulatory developments closely.
Propanc will update shareholders as qualified targets are identified, underscoring its commitment to leveraging digital assets to support future growth and clinical development.
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