Multiple myeloma is the second most common haematological cancer worldwide.6 In 2022, the World Health Organisation (WHO)/Global Cancer Observatory (GLOBOCAN) estimated that ~543,000 people live with multiple myeloma globally7, and ~188,000 new cases of multiple myeloma were diagnosed globally, with ~121,400 deaths.8 Approximately, 42% of patients will die within 5 years.9
The leading commercial multiple myeloma market is North America with an estimated 35,000 new cases and 15,100 deaths per year.10 Other key markets include Europe (~50,100 new cases and ~31,970 deaths) and Asia (~73,900 new cases and 53,800 deaths).11 Myeloma Australia estimates that ~22,000 people are living with the disease in Australia at any one time11, with around ~2,600 new cases diagnosed each year.10 Australia consistently ranks in one of the top five to ten countries globally with incidence rates of 7.9 patients per 100,000 persons.12
Key factors in multiple myeloma:
Other key challenges:
One of the key challenges with fighting multiple myeloma and other cancers is that cancer cells can evade the immune system. In order to kill cancer cells, researchers have developed immunotherapies that enable the patient's immune system to identify and kill cancer cells. Given the limitations in durability and cure rates, there has been a surge in research and development to create more effective therapeutics. While this effort has led to the introduction of novel treatment options, multiple myeloma remains a cycle of remission and relapse and no cure.
Malard F, Neri P, Bahlis NJ, et al. Multiple myeloma. Nat Rev Dis Primers. 2024 Jun 27;10(1):45.
Bray F, Laversanne M, Sung H, et al. Global cancer statistics 2022: GLOBOCAN estimates of incidence and mortality worldwide for 36 cancers in 185 countries. CA Cancer J Clin. 2024; 74(3): 229-263; Hou Q, Li X, Ma H, Fu D, Liao A. A systematic epidemiological trends analysis study in global burden of multiple myeloma and 29 years forecast. Sci Rep. 2025 Jan 16;15(1):2204.
Mafra A, Laversanne M, Marcos-Gragera R, et al. The global multiple myeloma incidence and mortality burden in 2022 and predictions for 2045. J Natl Cancer Inst. 2025 May 1;117(5):907-914.
SEER Cancer Stat Facts: Multiple Myeloma 2022.
https://myeloma.org.au/what-is-myeloma/
https://www.canceraustralia.gov.au/cancer-types/myeloma/multiple-myeloma-australia-statistics
Howlader N, Noone AM, Krapcho M, et al. SEER Cancer Statistics Review, 1975-2018, National Cancer Institute. Bethesda, MD, https://seer.cancer.gov/csr/1975_2018/
The global multiple myeloma therapeutics market was valued at approximately US$25.8 billion in 2025 and is projected to reach approximately US$37.0 billion by 2030, growing at a compound annual growth rate of approximately 8.4%. Monoclonal antibodies are the largest treatment class (around 58% of the market in 2025), and CAR-T therapies are the fastest-growing segment.
Despite major advances, multiple myeloma remains incurable. Patients typically relapse after each line of treatment, with progressively shorter remissions and fewer options at later lines. There is a particular need for therapies that control disease while preserving immune function and avoiding cumulative toxicity — the context in which HaemaLogiX's KMA- and LMA-directed programs are being developed.
HaemaLogiX has conducted pre-clinical research suggesting KappaMab™ and the LambdaMab™ antibodies can bind and kill plasma cells from AL amyloidosis patient samples (Zabaleta et al., EHA Library, 2024). AL amyloidosis is currently a discovery-stage research interest, not an active clinical program; any future clinical development would depend on further pre-clinical work, regulatory clearance and funding.