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Propanc Biopharma, Inc. (PPCB) announced a strategic initiative to acquire Digital Asset Treasury companies that are trading below their market cap to net asset value, according to a company statement.
The biopharmaceutical company, which develops treatments for recurrent and metastatic cancer, said it aims to target DAT companies that hold substantial reserves of digital assets including Bitcoin and Ethereum on their balance sheets.
According to data compiled by CoinMarketCap.com cited in the announcement, Bitcoin Treasury companies currently hold approximately $76.9 billion in total value, while Ethereum-based DATs collectively hold about $17.6 billion in digital assets. The company stated that many of these entities are trading at discounts to their net asset values.
"We see this as a strategic diversification initiative that can unlock value for Propanc shareholders," said James Nathanielsz, CEO of Propanc Biopharma . "By identifying DAT companies trading below their intrinsic value, we aim to leverage our public company platform to build a diversified digital asset portfolio while continuing to advance our innovative oncology pipeline."
The company said its board and executive team are evaluating potential acquisition targets and developing due diligence frameworks to assess balance sheet strength, digital asset holdings, and operational synergies. Propanc stated it intends to update shareholders as developments progress and qualified targets are identified.
Propanc Biopharma develops treatments designed to prevent cancer recurrence and metastasis by targeting cancer stem cells through proenzyme activation. The company’s lead product candidate is PRP.