Immix Biopharma, a Phase 1b/2a biotech developing tissue-specific therapies for solid tumors, raised $21 million by offering 4.2 million shares at $5, the low end of the range of $5 to $6. The company offered 0.4 million more shares than anticipated.
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 plans to list on the Nasdaq under the symbol IMMX. ThinkEquity acted as sole bookrunner on the deal.
