Leucic acid (synonymous with the term α-hydroxyisocaproic acid and the latter's acronym HICA) is a metabolite of the branched chain amino acid known as leucine; leucine initially goes into one of two metabolic pathways (KIC or HMB) and then some of the KIC is further converted into HICA.
HICA is claimed to be an anti-catabolic and anabolic agent similar to HMB. The limited evidence that exists right now (literally one study in athletes and a mention of a pilot study conducted by the same researchers) suggests that there is benefit, but beyond needing replication this study is also confounded.
Although it would be imprudent to say that HICA is ineffective (which it does not appear to be) and similarly imprudent to say that it is worse than HMB or leucine, due to the lack of comparative data between HICA and HMB/leucine the question of 'which one to use' cannot be answered and we have no indication if HICA is better or worse than the other options.
HICA holds some promise for future research to tackle, but currently does not have enough evidence to support its usage as a supplement; it may simply be a more expensive and equally effective leucine.