Immix Biopharma, a Phase 1b/2a biotech developing tissue-specific therapies for solid tumors, announced terms for its IPO on Wednesday.
The Los Angeles, CA-based company plans to raise $21 million by offering 3.8 million shares at a price range of $5 to $6. At the midpoint of the proposed range, Immix Biopharma would command a fully diluted market value of $76 million.
Immix is developing a novel class of Tissue-Specific Therapeutics ("TSTx") in oncology and inflammation. Its lead asset, IMX-110, is a negatively-charged TSTx that simultaneously disables resistance pathways with a poly-kinase inhibitor and induces tumor cell death with an apoptosis inducer. IMX-110 is currently in Phase 1b/2a trials for solid tumors in the US and Australia.
Immix Biopharma was founded in 2012 and plans to list on the Nasdaq under the symbol IMMX. ThinkEquity is the sole bookrunner on the deal.
