Alchemia, Rockeby on track for pre-Christmas float

Local biotechs Alchemia and Rockeby Biomed are set to list on the ASX next week after successfully raising $21 million and $4 million, respectively, in oversubscribed IPOs.

Alchemia will list on the ASX on December 23 using the code ACL. The Brisbane-based company will use the funds it raised to complete the development of its first product, a generic version of synthetic heparin targeting the $3 billion global market. The company has proprietary technology for the production of carbohydrates.

Rockeby Biomed, which will have the ASX code RCY, is also planning to list on December 23. The company, which has its research laboratory in Perth and offices in Singapore and Sydney, has developed rapid diagnostic tests for fungal diseases systemic candidiasis and thrush. Already available in Australia, New Zealand, Singapore and Malaysia, the CANDIA5 point-of-care test for thrush will be progressively launched into other SE Asian markets over the next year.

Other upcoming floats include BioDiem, which expects to close its offer next week and list in mid-January, and CollTech, which is planning a February listing after completing its offer in January.