A company commercialising a breakthrough treatment for blood cancers developed from UTS research is expected to be floated on the Australian Stock Exchange next month.

PacMab Limited, founded on the work of a research team led by Faculty of Science Professor of Immunology Robert Raison, has lodged a prospectus for a public share issue that will generate investment to complete clinical trails of the technology.

Professor Raison and Dr Rosanne Dunn spearheaded the establishment of PacMab in 2001 to commercialise monoclonal antibody technology developed at UTS over 10 years, and for which the company has secured worldwide exclusive rights.

PacMab's lead drug, known as cKap, specifically targets the fatal blood cancer multiple myeloma, which affects more than 100,000 patients in developed countries. PacMab is developing further drugs based on monoclonal antibodies targeting other blood disorders.

PacMab's Chief Executive Officer Alan Liddle said cKap was a member of a new generation of targeted cancer drugs that constituted one of the fastest growing and most lucrative sectors of the global pharmaceutical industry.

"This selective therapeutic approach is aimed at specifically targeting the myeloma tumour cells while not affecting healthy cells in the body," Mr Liddle said. "We estimate the potential world market for effective antibody therapies for multiple myeloma is more than $US1.4 billion per annum.

"Multiple myeloma is currently incurable, despite the use of chemotherapy, radiotherapy and other treatments, all of which have debilitating side effects and are reported to cost to up to $US50,000 per patient each year. The number of people affected by multiple myeloma is expected to increase due to the earlier onset of the disease and the ageing of the population."

Mr Liddle said after bringing cKap to fruition PacMab planned to take further prospective drugs using the monoclonal antibody technology through clinical trials and then incrementally licence them to major pharmaceutical and biotechnology companies across the world.

PacMab plans to raise a minimum $5 million from the share issue with investors to be offered a minimum 12.5 million PacMab shares at an issue price of 40 cents each. Based on the offer price, the company's market capitalisation on listing will be $19 million.

Major shareholders of the company include 23 per cent shareholder, specialist life sciences fund Symbion Pty Ltd, which is 40 per cent owned by ABN AMRO Australia Ltd, which also directly holds another five per cent stake.

UTS has retained a five per cent stake in PacMab and continues to play an active role in the company, through providing laboratory facilities to the team.