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Immix Biopharma Prices $15M Public Offering

NEW YORK – Immix Biopharma on Monday announced the pricing of a $15 million underwritten public offering.

The Los Angeles-based drugmaker is offering 5,535,055 shares of its common stock at $2.71 per share. Additionally, ImmixBio has granted underwriters a 30-day option to purchase an additional 783,970 shares of its common stock under the same terms and conditions. Titan Partners Group, a division of American Capital Partners, is the sole bookrunning manager for the offering, which is expected to close on Feb. 8.

ImmixBio said it will use the $15 million in gross proceeds expected from the offering to advance clinical trials of its lead candidate, the autologous, B-cell maturation antigen-targeting CAR T-cell therapy NXC-201, as well as for working capital and general corporate expenses.

ImmixBio subsidiary Nexcella licensed NXC-201 from Hadassah Medical Organization in Israel. Last fall, Nexcella said it is planning to submit a biologics license application to the US Food and Drug Administration seeking approval for NXC-201 as a multiple myeloma treatment based on data from the NEXICART-1 Phase Ib/IIa trial.

The cell therapy has also demonstrated promising activity in patients with light chain amyloidosis. The drug is undergoing investigational new drug-enabling studies in autoimmune diseases.