Immix Biopharma, Inc. (Nasdaq: IMMX) has announced the completion of its previously disclosed at-the-market equity offering program, raising $5 million. The financing round saw participation from institutional investors, including Bridgewest Group.
According to ImmixBio, the raised capital will be strategically allocated to support the clinical advancement of its key drug candidates. A significant portion of the funds will be directed towards the continued development of NXC-201, an autologous CAR-T cell therapy currently in trials for multiple myeloma and AL amyloidosis. ImmixBio believes NXC-201 has the potential to be the world’s first out-patient CAR-T therapy.
Clinical Trial Focus
The proceeds from the equity offering will also support ongoing clinical trials for IMX-110, ImmixBio's Tissue-Specific Therapeutic (TSTx). These trials include a Phase 1b combination study (IMMINENT-01) evaluating IMX-110 in conjunction with tislelizumab, an anti-PD-1 antibody developed by BeiGene. IMX-110 is also being investigated as a monotherapy in separate clinical trials.
"We are delighted to complete the $5 million common stock ATM offering. We believe the terms were favorable to investors in a turbulent market environment. Further, we would like to welcome Bridgewest to our institutional investor syndicate. We are focused on continued efficient execution of our clinical development plans: NEXICART-1 for NXC-201, which we believe is the world’s first out-patient CAR-T in multiple myeloma and AL amyloidosis, and our IMX-110 clinical trials including IMMINENT-01 combination trial with BeiGene’s anti-PD-1 antibody," said Ilya Rachman, MD PhD, Chief Executive Officer, Immix Biopharma.
About Immix Biopharma's Pipeline
Immix Biopharma is a clinical-stage biopharmaceutical company focused on developing CAR-T cell therapies and tissue-specific therapeutics for oncology and immuno-dysregulated diseases. Their lead CAR-T cell therapy candidate, NXC-201, is being developed by its subsidiary Nexcella, Inc. Early data from the NEXICART-1 trial showed response rates of 92% in multiple myeloma and 100% in AL amyloidosis as of February 9, 2023.
IMX-110 holds Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPDD) by the FDA.
