Immix Biopharma Completes $5 Million At-The-Market Equity Offering Program
Participating institutional investors include Bridgewest Group
LOS ANGELES, June 14, 2023 (GLOBE NEWSWIRE) — Immix Biopharma, Inc., (Nasdaq:IMMX) (“ImmixBio”, “Company”, “We” or “Us”), a biopharmaceutical company pioneering CAR-T cell therapies and tissue specific therapeutics targeting oncology and immuno-dysregulated diseases, today announced that it has completed its previously announced “at-the-market” equity offering program (the “ATM Offering”).
“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.
ImmixBio disclosed on March 22, 2023 that it filed a prospectus supplement with the U.S. Securities and Exchange Commission to offer and sell shares of the Company’s common stock having an aggregate offering price of up to $5,000,000 from time to time through the ATM Offering. The Company ultimately sold 2,263,868 shares of common stock and generated aggregate gross proceeds before commissions and offering expenses of approximately $5,000,000. ThinkEquity acted as agent for the ATM.
The Company intends to use net proceeds from the ATM Offering for its IMX-110 + tislelizumab Phase 1b combination clinical trial, its IMX-110 monotherapy clinical trial, and general corporate purposes.
About Immix Biopharma, Inc.
Immix Biopharma, Inc. (ImmixBio) (Nasdaq: IMMX) is a clinical-stage biopharmaceutical company pioneering a novel class of CAR-T cell therapies and Tissue-Specific Therapeutics (TSTx) targeting oncology and immuno-dysregulated diseases with >75 patients treated to-date. Our lead cell therapy asset is NXC-201 in multiple myeloma and AL Amyloidosis, which we believe could be the world’s first out-patient CAR-T. Our lead TSTx asset IMX-110, currently in Phase 1b/2a clinical trials as a monotherapy and IMMINENT-01 combination clinical trial with BeiGene’s anti-PD-1 antibody tislelizumab, holds Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPDD) by the FDA. ImmixBio subsidiary Nexcella, Inc develops CAR-T NXC-201 for multiple myeloma and AL amyloidosis, with 92% and 100% response rates in each indication, respectively, as of February 9, 2023, currently being trialed in NEXICART-1. Learn more at www.immixbio.com.
Forward Looking Statements
This press release contains “forward-looking statements” Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Immix Biopharma’s Annual Report on Form 10-K for the year ended December 31, 2022, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Immix Biopharma, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements.
Contacts:
Stern Investor Relations
Suzanne Messere
Managing Director
Suzanne.Messere@sternir.com
Company Contact:
irteam@immixbio.com
