- Management plans to discuss current financial position, milestones, and new opportunities presented by current market volatility
- With $24.2 million gross proceeds from its December 2021 IPO, ImmixBio plans to commence 2 clinical trials in 2022
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/29ada955-df7a-4722-968a-3a3e0fd0d34d
LOS ANGELES, March 07, 2022 — Immix Biopharma, Inc. (Nasdaq: IMMX) (“ImmixBio”, “Company”, “we” or “us”), a biopharmaceutical company pioneering Tissue-Specific Therapeutics (TSTx)™ targeting oncology and immuno-dysregulated diseases, today announced the IMMX Milestone Day Event, to be held on April 5, 2022. At the Event, management plans to discuss current financial position, milestones, and new opportunities presented by current market volatility.
“With conflict in Europe and attendant volatility in capital markets, we believe it is appropriate to discuss that ImmixBio not only continues to be on track to achieve clinical data milestones as planned with the funding we raised in our IPO, but also act on new opportunities presented,” said Ilya Rachman, MD PhD, Chief Executive Officer of ImmixBio. “Each day we are advancing ImmixBio forward towards the milestones we have committed to our investors, stakeholders, and patients.”
“We raised $24.2 million in total gross proceeds 3 months ago at the end of December including full exercise of the underwriters’ over-allotment option in connection with our IPO,” said Gabriel Morris, Chief Financial Officer of ImmixBio. “With Dr. Rachman’s experience as a clinical investigator for approved therapies, we believe we are ideally positioned to take advantage of market uncertainty to accomplish milestones with increasing capital efficiency.”
About Immix Biopharma, Inc.
Immix Biopharma, Inc. (ImmixBio™) (Nasdaq: IMMX) is a clinical-stage biopharmaceutical company pioneering a novel class of Tissue-Specific Therapeutics (TSTx)™ targeting oncology and immuno-dysregulated diseases. Our lead asset IMX-110, currently in Phase 1b/2a clinical trials, holds orphan drug designation (ODD) by the FDA for soft tissue sarcoma, and has received Rare Pediatric Disease Designation (RPDD) for the treatment of rhabdomyosarcoma, a life-threatening form of cancer in children. RPDD qualifies ImmixBio to receive fast track review and a priority review voucher (PRV) at the time of marketing approval of IMX-110. Our proprietary SMARxT Tissue-Specific™ Platform produces drug candidates that circulate in the bloodstream, exit through tumor blood vessels and simultaneously attack all 3 components of the tumor micro-environment (TME). We believe ImmixBio’s TME Normalization™ technology severs the lifelines between the tumor and its metabolic and structural support. 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.
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. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Immix Biopharma, Inc.
Chief Financial Officer
+1 (888) 958-1084