West LA-Based Biotech ImmixBio – Maker of Cancer Treatments – Files for an IPO
03:52 PM | July 23, 2021
ImmixBio, a West L.A.-based startup developing cancer therapies, announced on Friday it submitted a confidential filing to go public.
Ilya Rachman, chief executive of the nine-year-old company which has developed a combination therapy meant to prevent cancers from resisting treatments and evolving, would not specify how many shares will be offered or the price range.
The company’s therapy has shown promising results in treating glioblastoma, ovarian tumors and multiple myeloma in preclinical studies
Rachman said he wants to take the company public so he can further the development of the cancer drug and expand it to treat colon cancer. He also hopes to continue Immix’s work on inflammatory bowel disease treatment that is in preclinical stages.
“This company truly benefits the ultimate consumer, which is the massive patient population, as well as investors who want to back worthwhile clinical innovation that bring meaningful improvement to standards of care in oncology,” said Rachman.
The therapy is currently undergoing clinical trials to treat ovarian cancer, breast cancer, pancreatic cancer and solid tumors to determine what dose is appropriate for patients. The first U.S. patient was dosed in 2020.
Early clinical trials showed promising results for patients dealing with soft-tissue sarcoma, a rare type of cancer. Using Immix therapy, patients’ cancers were controlled for roughly four months, which allows doctors to continue experimenting with different treatments before the cancer either grows or evolves.