An Australian biotech that counts former Macquarie Group Ltd (ASX: MQG) CEO Allan Moss and Platinum Asset Management fund among its shareholders is planning an ASX initial public offering (IPO) next year.

According to The Australian, HaemaLogiX has hired Jefferies and Ord Minnett to assist in its preparations to become an ASX healthcare stock in the second quarter of the new year.

The biotech hopes to raise about $50 million in the ASX IPO.

As a private company, HaemaLogiX has previously raised $24.1 million. It is currently undertaking a pre-ASX IPO capital raise. It hopes to raise between $15 million and $20 million by mid-December.

What is HaemaLogiX?

The company focuses on treating blood cancers, such as myeloma. Its aim is to improve the quality of life and survivability of patients with these incurable diseases.

Myeloma, also known as multiple myeloma, is a type of bone marrow cancer. Myeloma Australia estimates there are 18,000 Australians living with it today.

HaemaLogiX is working with the Peter MacCallum Cancer Centre to undertake the first human trial of its CAR-T immunotherapy, KMA.CAR-T, for kappa-type multiple myeloma.

The organisations hope that the first patient will be treated in the second quarter of 2025.

HaemaLogiX is also investigating the use of its medicines for auto-immune diseases, such as amyloidosis.

The proceeds of this next capital raising will be used for the fourth clinical trial of HaemaLogiX's KappaMab immunotherapy drug.

KappaMab can be used in addition to existing treatments. In the latest trial, the overall response rate was 83%. The risk of death was 46% lower in the treatment group compared to the control group.

Who's in charge of this aspiring ASX healthcare stock?

The company's founders and majority shareholders are Dr Rosanne Dunn; Bryce Carmine; board chair Dr John Cullity and Alan Liddle.

Former federal health minister Greg Hunt is a board director.

HaemaLogiX's managing director is Damian Clarke-Bruce, who previously ran Race Oncology Ltd (ASX: RAC). Race is another ASX biotech developing drugs to treat various cancers.

Clarke-Bruce said:

We have two distinct vehicles and our drugs and our target are significantly differentiated from what's on the market.

We're confident that we will have good efficacy with an excellent safety profile … this is great translational science.

HaemaLogiX says it currently has 75 patent filings with tenures from 2036 to 2045.

ASX IPOs in 2024

Two of the biggest ASX IPOs this year were Mexican restaurant chain, Guzman y Gomez Ltd (ASX: GYG), which raised $335 million, and miner Metals Acquisition CDI (ASX: MAC), which raised $325 million.

This week, payments company Cuscal Ltd (ASX: CCL) had its ASX IPO.

Next month, alternative asset manager HMC Capital Ltd (ASX: HMC)'s will float its data centre trust, DigiCo Infrastructure REIT.

The real estate investment trust (REIT) will float on 12 December.

The ASX IPO issue price will be $5 per share and HMC hopes to raise about $2 billion.