EXCLUSIVE: Immix CEO On ‘Benzinga Live’
Adam Eckert , Benzinga Staff Writer
January 03, 2022 3:05pm
Immix Biopharma Inc IMMX +62.36% stock is soaring Monday after the U.S. Food and Drug Administration granted Rare Pediatric Disease designation for IMX-110 for the treatment of rhabdomyosarcoma, a life-threatening form of pediatric cancer in children.
“This clearly provides additional opportunities for us and represents tremendous value for us as a company in addition to the validation of this technology,” Immix CEO Ilya Rachman said Monday on “Benzinga Live.”
It has been historically difficult to motivate companies to develop therapies for smaller pediatric populations, so there have been regulatory pathways developed to help incentivize companies, the CEO said.
Companies are now incentivized through vouchers, which can be worth $65 million to $300 million, Rachman said.
“The RPD designation puts us in a position of eligibility to receive the PRV (Priority Review Voucher).”
The voucher’s value is dependent upon overall market conditions, the industry’s development and investor perceptions, he said.