The immunotherapies developer is aiming to raise up to $20m by mid-December as it prepares to go public.
Australian biotech HaemaLogiX is preparing to list on the ASX in the second quarter of 2025, having launched a pre-IPO fund raiser which is looking to raise $15-20 million before the middle of December.
The company, which boasts former federal health minister Greg Hunt as a director, is currently worth $154 million, according to The Australian.
The current raising is aimed at supporting a 2025 clinical trial for HaemaLogiX’s KappaMab immunotherapy drug.
The company’s website lists its pipeline as diverse immunotherapies including monoclonal antibodies, CAR-T cells, and bispecific antibodies, with a key focus on treating multiple myeloma and early investigation of amyloid light chain (primary) amyloidosis. The new immunotherapy drugs KappaMab and KMA.CAR-T promote the death of cancer cells.
HaemaLogiX’s managing director Damian Clarke-Bruce told The Australian the global multiple myeloma market was forecast to expand to US$31.5 billion in 2028.
“We have two distinct vehicles and our drugs and our target are significantly differentiated from what’s on the market,” he was quoted as saying.
“We’re confident that we will have good efficacy with an excellent safety profile … this is great translational science.”
In 2023, HaemaLogiX partnered with the Peter MacCallum Cancer Centre for the first human trial of the former’s CAR-T immunotherapy, KMA.CAR-T, for kappa-type multiple myeloma. That therapy is now in the manufacturing stage and with the first patient due to be treated with it mid-2025.
