Here are two brief analogies to describe Propanc Biopharma (PPCB):

• Propanc Biopharma is a biotech focused on developing novel enzyme-based cancer therapies, akin to how BioNTech (known for its mRNA vaccine) explores novel mRNA cancer treatments.
• Propanc Biopharma is a very early-stage oncology biotech, aspiring to be a future Genentech (a foundational biotech now part of Roche), but focused on unique enzyme therapies for advanced cancers.

• PRP (Propanc's lead product candidate): This proenzyme therapy, comprising trypsinogen and chymotrypsinogen, is being developed as an injectable treatment for solid tumors.
• PPC (Propanc Proenzyme Combination): An advanced formulation of PRP, PPC is a combination therapy currently being developed as an intravenous treatment for various types of cancer.

Propanc Biopharma (symbol: PPCB) is a clinical-stage biopharmaceutical company focused on developing new and proprietary treatments for cancer patients suffering from solid tumors. The company's lead product candidate, PRP, is currently undergoing clinical development.

According to Propanc Biopharma's latest regulatory filings, including its Form 10-K for the fiscal year ended June 30, 2023, the company does not currently have any products approved for sale and has not generated any revenue from product sales. The company explicitly states that it does not expect to generate revenue from product sales for at least the next several years, if at all.

Therefore, Propanc Biopharma does not currently have "major customers" in the traditional sense of entities or individuals purchasing its products or services. Its operations are primarily funded through equity financing and other capital-raising activities to support its ongoing research, development initiatives, and clinical trials.

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James Nathanielsz
Chief Executive Officer and Executive Chairman

James Nathanielsz has served as the Chief Executive Officer and a director of Propanc Biopharma since October 2007. He is a Co-Founder of Propanc Biopharma. From July 2006 to October 2007, Mr. Nathanielsz was the New Products Manager of Biota Holdings Limited, an anti-infective drug development company in Australia. He emphasizes Propanc's global approach to securing funds and its current pursuit of Series A financing, highlighting a strategic method for financial backing. Mr. Nathanielsz also discusses the benefits of being a public company in the U.S. for raising significant capital.

Jeannine Zimmerman
Chief Financial Officer

Ms. Jeannine Zimmerman was appointed Chief Financial Officer of Propanc Biopharma on August 13, 2025. She holds a Bachelor of Science degree in accounting from St. Joseph's College. Ms. Zimmerman began her career at SEC Solutions Group, LLP, where she assisted public companies with their SEC filing requirements, including audit and review preparation, internal control, and financial statement analysis. She brings extensive experience in accounting and financial management from working with various public and not-for-profit organizations.

Dr. Julian Kenyon, M.D.
Chief Scientific Officer

Dr. Julian Kenyon founded Propanc Biopharma and its Australian subsidiary, and was appointed as a director in February 2008. Since 2000, he has served as an integrated medical physician and Medical Director of the Dove Clinic for Integrated Medicine in Winchester and London. Dr. Kenyon was the Founder-Chairman of the British Medical Acupuncture Society in 1980 and a Co-Founder of the Centre for the Study of Complementary Medicine in Southampton and London. He is also the Founder/President of the British Society for Integrated Medicine (BSIM).

Professor Klaus Kutz, M.D.
Chief Medical Officer

Professor Klaus Kutz possesses 15 years of experience as an independent consultant in Clinical Pharmacology and Safety for pharmaceutical companies and clinical research organizations. His recent specialty in oncology includes preparing multiple New Drug Applications (NDAs) and Investigational New Drug (IND) applications for small and medium-sized pharmaceutical companies. Professor Kutz has held positions as Head of Clinical Pharmacology with global responsibilities for Phase I and Clinical Pharmacokinetics at two internationally operating pharmaceutical companies. His achievements include the successful worldwide registration of several significant Sandoz compounds. He is also a Professor of Medicine at the University of Bonn, Germany.

Josef Zelinger
Non-Executive Director

Josef Zelinger is a Certified Practicing Accountant with 45 years of experience in tax, auditing, finance, investment, and management consulting. He also has significant expertise in property management and import/export businesses. Mr. Zelinger started his career as an accountant at L.M. Stanton & Partners - Chartered Accountants, and later served as Chief Financial Officer and Company Director at Caston Pty Ltd, a steel manufacturer, from 1980 to 1983. Since the mid-1980s, he has served as a Director in several private investment companies and has operated as a sole practitioner in accountancy and tax consulting since 1980.

Propanc Biopharma (PPCB) focuses on developing its lead product, PRP, a pancreatic proenzyme formulation, as a long-term therapy to prevent tumor recurrence and metastasis in solid tumors. The company's initial target patient populations include pancreatic, ovarian, and colorectal cancers.

The addressable markets for Propanc Biopharma's main products or services are:

• Global Solid Tumor Therapeutics Market: This market was valued at approximately USD 207.29 billion in 2025 and is projected to reach USD 307.41 billion by 2030.
• Global Pancreatic Cancer Treatment Market: Valued at USD 3.30 billion in 2024, this market is projected to grow to USD 10.69 billion by 2032.
• Global Ovarian Cancer Drugs Market: This market was estimated at USD 3.84 billion in 2024 and is expected to reach around USD 7.34 billion by 2034.
• Global Colorectal Cancer Therapeutics Market: This market was valued at USD 12.71 billion in 2023 and is anticipated to exceed USD 19.90 billion by 2033.

Propanc Biopharma (PPCB), a development-stage biopharmaceutical company currently reporting no revenue, anticipates future revenue growth over the next 2-3 years through several key drivers primarily focused on advancing its cancer treatment pipeline and strategic financial initiatives.

The expected drivers of future revenue growth include:

1. Advancement of Lead Therapeutic Candidate (PRP) into Clinical Development: Propanc Biopharma's primary focus is on progressing its lead product candidate, PRP, a proenzyme-based treatment for pancreatic, ovarian, and colorectal cancers. The company expects PRP to commence a First-In-Human study in the second half of 2026, marking a critical step towards potential future commercialization and revenue generation.

2. Expansion of the Clinical Pipeline through Collaborative Efforts: Propanc is actively pursuing collaborative efforts to expand its clinical pipeline. This strategy could lead to the development of new product candidates or accelerate the progress of existing ones through partnerships, thereby broadening its potential market reach and future revenue streams.

3. Enhancement of Intellectual Property Assets: A dedicated effort to enhance its intellectual property assets is another significant driver, with key development milestones projected for late 2025 and throughout 2026. A robust intellectual property portfolio can underpin future licensing agreements, strategic partnerships, and a stronger competitive position for its therapeutic candidates, ultimately contributing to revenue.

4. Leveraging a Digital Asset Treasury Strategy: Propanc Biopharma has initiated a strategic plan to acquire Digital Asset Treasury (DAT) companies. This initiative is designed to build a diversified digital asset portfolio and strengthen the company's balance sheet, which, according to CEO James Nathanielsz, will "accelerate our unique proenzyme technology to clinical development and beyond" by funding ongoing operations and research initiatives. While not direct pharmaceutical revenue, this strategy is intended to provide capital that indirectly drives the R&D pipeline, thereby enabling future revenue from its core biopharmaceutical business.

Share Issuance

• Propanc Biopharma completed an underwritten public offering of 1,000,000 shares of its common stock at $4.00 per share, generating gross proceeds of $4 million, with shares commencing trading on Nasdaq on August 15, 2025.
• The company granted the underwriter a 45-day option to purchase up to an additional 150,000 shares of common stock at the public offering price.
• In November 2025, Propanc Biopharma entered a securities purchase agreement for a private placement of up to $100 million in Series C convertible preferred stock with Hexstone Capital, receiving an initial $1.0 million for 100 shares. Additionally, 9,900 warrants were issued, exercisable for one preferred share at $10,000 per share, representing potential for up to $99 million in additional funding.

Inbound Investments

• Hexstone Capital LLC made an initial investment of $1.0 million in Propanc Biopharma through a private placement of Series C convertible preferred stock in November 2025, with an agreement for up to an additional $99 million in potential funding through warrants. These funds are earmarked to support a digital asset acquisition strategy and accelerate the company's R&D pipeline.
• The company received $4 million in gross proceeds from its Nasdaq uplisting and public offering in August 2025, which provides immediate working capital for preclinical development.

Outbound Investments

• Propanc Biopharma announced a strategic initiative in November 2025 to pursue acquisitions of Digital Asset Treasury (DAT) companies trading below their Market Cap to Net Asset Value (MNAV). This strategy aims to strengthen the balance sheet, diversify assets, and create long-term shareholder value.
• The company plans to build a digital asset treasury of $100 million or more within 12 months.

Capital Expenditures

• Propanc Biopharma's total assets significantly increased from approximately $72,000 to $19.6 million as of June 30, 2025.
• This asset growth is primarily attributed to prepaid service contracts related to market awareness, advisory, accounting, manufacturing, and research and development activities.
• Funds from recent capital raises are intended to accelerate the R&D pipeline, with a focus on its lead product candidate (PRP) entering a First-In-Human study in the second half of 2026.