Next Science, which is set to list on the ASX next week, is further down the road than many biotech companies that seek to go public.

For one thing, it has already has four products with regulatory approval for sales and marketing in the United States and has a fifth it expects to commence selling in Australia later this year.

That banked the company about $4 million in revenue for the 2018 financial year, a 419 per cent rise on the previous year.

And though it is deep in the red — about $20.7 million thanks to a massive increase in employee expenses due to 44 new hires, mostly in sales — Next Science had no trouble raising the money for its IPO, with CEO Judith Mitchell telling Stockhead it only took three days to reach its $35 million maximum.

“We disenfranchised a few people,” she said. “We were worried we’d have money to return.”

The company has significant heavyweight backing. Its chairman is George Savvides, who took health insurance heavyweight Medibank public in 2014, at the time the second largest float in Australia’s history. He also led the float of Sigma Healthcare in 1999.

It also had a “patient” angel investor in Lang Walker, the septuagenarian property magnate.

“He was the sole funder for the first five years,” Mitchell told Stockhead. “So we didn’t need to raise capital early. But now we are looking to extend our portfolio to more applications, more partners, so we think the business is in shape to go to the public markets.”

Next Science has developed a technology known as ‘Xbio’, which is the basis for the four FDA-cleared products currently being sold in the US to eliminate biofilm-protected bacteria in surgery and chronic wound care applications.

Biofilm-protected means a bunch of bacteria get together to form a shield that is resistant to treatment by antibiotics.

“It’s a festival of bugs out there, and our technology is able to take down the biofilm and attack the bacteria,” Mitchell said.

The company is due to list on April 18, under the code NXS.

Australian Sports & Nutrition was supposed to list last week but ASIC sent the company an interim stop notice.

Here’s a list of upcoming floats — swipe or scroll for full table:

CompanyASX codeIPO statusFocusFund raisingIssue price
AltoStratosATOListing extended to April 30Supply chain delivery technology$16-$25m40c
Australian Family LawyersAFLOffer open April 8Law firm$4-$6.5m20c
Australian Industrial MineralsAAMWithdrawnIndustrial minerals$5m25c
Australian Nutrition & SportsAN1Was due to list Apr 3; ASIC has issued an interim stop noticeDairy formula$5-$8m20c
AXS GroupAXSOffer date extended to April 19; Listing date extended to April 26Software provider to the finance, insurance and funds sector$7m25c
Carnaby Resources-Prospectus not yet issued; Considering listing in 2019Gold--
Expose ResourcesEXXListing date extended to April 10Gold$4.5m20c
Frugl Pre-IPO funding; planning listingGrocery price comparison --
Gold Tiger ResourcesGRAOffer closing May 10; Listing planned for May 22Gold$4-$5m20c
irexchangeIRXWithdrawnRetail tech$17.5m90c
IXTIXTWas due to list Dec 21Services and software$7m20c
Jobstore GroupJOBWas due to list Dec 5AI-powered recruitment$6.6-8m20c
Koligo TherapeuticsKOLListing extended to April 5Regenerative medicine$6-$7m20c
Melior ResourcesSeeking ASX-listing in 2019Mineral sands$5m
Mont Royal ResourcesMRZOffer closing April 8; Listing set for May 15Gold$5m20c
Next ScienceNXSDue to list April 29Bacteria treatments$35m$1
ReadyTech HoldingsRDYOffer closes April 12; Due to list April 17Payroll and education software systems$50m
Rolek ResourcesRLKBackdoor listing cancelledManganese$5m2c
Trigg MiningTMGPostponed until 2019Potash-
XS ResourcesXS1Listing extended to Mar 4Precious, base metals$4.5m20c