Immix Biopharma, Inc. · NASDAQ:IMMX
Immix Biopharma — Investor Presentation (September 2025)
54 slides from Immix Biopharma's investor presentation, September 2025
Slide 1: Clinical Stage Cell Therapy for AL Amyloidosis and Other Serious Diseases
Clinical Stage Cell Therapy for AL Amyloidosis and Other Serious Diseases September 2025
Slide 2: Disclaimer: Forward Looking Statements & Market Data
Disclaimer: Forward Looking Statements & Market Data This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this presentation, including statements regarding Immix Biopharma, Inc.
Slide 3: Pioneering Cell Therapy in AL Amyloidosis and Other Serious Diseases
Pioneering Cell Therapy in AL Amyloidosis and Other Serious Diseases Sterically-optimized, proprietary • Immix N-GENIUS platform produced NXC-201 CAR-T construct from Immix • NXC-201 is our lead, sterically-optimized CAR-T with “digital filter” that reduces non-specific activation (enhancing tolerab
Slide 4: Significant Near-Term Milestones
Significant Near-Term Milestones 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Prior ✓ ✓ Secured rights to NXC-201, N-GENIUS platform ✓ FDA Orphan Drug Designation (ODD) and Regenerative Medicine Advanced Therapy (RMAT) Designation Granted ✓ Mentioned in New England Journal of Medicine NXC-201 (NEJM) AL Amyloidosis
Slide 5: N-GENIUS Platform: Sterically-Optimized CAR-T construct
N-GENIUS Platform: Sterically-Optimized CAR-T construct “Digital Filter” reduces non- specific activation, leading to better tolerability ALL BCMA CAR-TS ARE NOT CREATED EQUAL N-GENIUS PLATFORM NXC-201 sterically-optimized CAR-T’s “Digital Filter”…. …reduces non-specific activation 1 Proprietary Opt
Slide 6: NXC-201 Referenced in June 2024 New England Journal of Medicine Publication
NXC-201 Referenced in June 2024 New England Journal of Medicine Publication Footer Sanchorawala et al. Systemic Light Chain Amyloidosis. New England Journal of Medicine. June 2024. 6
Slide 7: AL Amyloidosis: 34,600 Relapsed/Refractory U.S. Patients with No FDA Approved Drugs
AL Amyloidosis: 34,600 Relapsed/Refractory U.S. Patients with No FDA Approved Drugs NXC-201 TARGETS AL AMYLOIDOSIS PLASMA CELLS THAT EXPRESS BCMA ON CELL SURFACE Light chains deposit in organs, damaging organs Light chains produced by Light chains misfold and dysfunctional plasma cells aggregate Hea
Slide 8: Current Standards of Care: Relapsed/refractory AL Amyloidosis Disease Markers
Current Standards of Care: Relapsed/refractory AL Amyloidosis Disease Markers CURRENT STANDARDS OF CARE INDUCE A COMPLETE RESPONSE IN 0-10% OF PATIENTS 12 Patient Series Relapsed/Refractory AL Amyloidosis Receiving Second Line Therapy This Is Heart Failure Caused by AL Amyloidosis Initial Dosing AL
Slide 9: NXC-201 Addresses Sizable U.S. Relapsed/Refractory AL Amyloidosis Patient Population
NXC-201 Addresses Sizable U.S. Relapsed/Refractory AL Amyloidosis Patient Population Prevalence: Relapsed/Refractory (“R/R”) Incidence: Newly Diagnosed / Front Line Existing therapies 34,600 • ~35% of patients on ~80% Beginning Darzalex combos patients eligible Subtract 4% prevalence Darzalex … Of w
Slide 10: NXC-201 Advantage: Overcoming Neurotoxicity
NXC-201 Advantage: Overcoming Neurotoxicity ALL BCMA CAR-TS ARE NOT CREATED EQUAL LOW VOLUME DISEASE HIGH VOLUME DISEASE NXC-201 Others NXC-201 Others AL Amyloidosis Low volume autoimmune diseases Multiple Myeloma Multiple Myeloma Others are Others are >10x higher ~7-8x higher Anito-cel /CARTddBCMA
Slide 11: NXC-201 Tolerability Drives AL Amyloidosis Leadership
NXC-201 Tolerability Drives AL Amyloidosis Leadership ALL BCMA CAR-TS ARE NOT CREATED EQUAL NXC-201’s short CRS duration makes it uniquely NXC-201 Anito-cel suitable to treat ALA patients (in whom the #1 source /CARTddBCMA of mortality is heart failure) Others are 4-8x higher Cardiovascular stress i
Slide 12: Pipeline: Only CAR-T in AL Amyloidosis; Expanding To Other Serious Diseases
Pipeline: Only CAR-T in AL Amyloidosis; Expanding To Other Serious Diseases Lead Program: NXC-201, a next-generation BCMA-targeting CAR-T for AL Amyloidosis and Other Serious Diseases Indication Therapy Pre-clinical Phase 1 Phase 2 Upcoming Milestones 2Q 2025: Report interim clinical data readout fo
Slide 13: World-Class Team
World-Class Team Management Board of Directors Scientific Advisory Board Helen Adams, CPA Ilya Rachman, MD, PhD Heather Landau, MD Former Prometheus Chief Executive Officer Director, Amyloidosis Program Biosciences Board Member Magda Marquet, PhD Raymond Comenzo, MD Gabriel Morris, BA ALMA Life Scie
Slide 14: U.S. Multi-Center NEXICART-2 Trial Designed Based on ex-US NEXICART-1 Trial Experience
U.S. Multi-Center NEXICART-2 Trial Designed Based on ex-US NEXICART-1 Trial Experience 40 patient NEXICART-2 U.S. multi-center trial with registrational design Relapsed/Refractory Excludes pre-existing Excludes patients with Excludes patients with AL Amyloidosis severe cardiac patient prior BCMA-tar
Slide 15: NEXICART-2: Multi-Center U.S. CAR-T NXC-201 Clinical Trial with Registrational Design
NEXICART-2: Multi-Center U.S. CAR-T NXC-201 Clinical Trial with Registrational Design
Slide 16: NEXICART-2 U.S. Relapsed/Refractory AL Amyloidosis Trial (NCT06097832)
NEXICART-2 U.S. Relapsed/Refractory AL Amyloidosis Trial (NCT06097832) U.S. TRIAL WITH REGISTRATIONAL DESIGN ONGOING; PLANNED ENROLLMENT COMPLETION 4Q 2025 / 1Q 2026 Study design • Open-label, single-arm, multi-site phase 1/2 study • n=40 patients Key criteria Inclusion • AL Amyloidosis patients exp
Slide 17: NEXICART-2 (U.S.): Patient enrollment focused on patients with preserved heart function
NEXICART-2 (U.S.): Patient enrollment focused on patients with preserved heart function at enrollment Preserved heart function Median NX2-001 NX2-002 NX2-003 NX2-004 NX2-005 NX2-006 NX2-007 NX2-008 NX2-009 NX2-010 (range) Age 56 67 82 64 62 72 77 66 63 80 67 (56-82) Gender Female Female Male Female
Slide 18: NEXICART-2 (U.S. 2025): Rapid Normalization of Diseased Light Chains
NEXICART-2 (U.S. 2025): Rapid Normalization of Diseased Light Chains (FDA Endpoint) within First ~Month; Consistent with Ex-US Dataset NXC-201 dosing Best Response 0.9 0% Percentage change in dFLC/M-Spike from baseline NX2-002 250 NYHA reduction -10% 0.8 stage II → I -20% NX2-003 0.7 200 -30% m-spik
Slide 19: NEXICART-2 (U.S.) Clinical Activity: 70% Complete Responses in 7/10 Patients
NEXICART-2 (U.S.) Clinical Activity: 70% Complete Responses (CR) in 7/10 Patients; Remaining Three MRD- negative 10-6, predicting future CR Subject # NX2-001 NX2-002 NX2-003 NX2-004 NX2-005 NX2-006 NX2-007 NX2-008 NX2-009 NX2-010 NXC-201 Dose 150 150 150 450 450 450 450 450 450 450 (million CAR+T ce
Slide 20: NEXICART-2 (U.S.) Safety: Consistent or Improved Compared to Ex-US Dataset
NEXICART-2 (U.S.) Safety: Consistent or Improved Compared to Ex-US Dataset • No ICANS neurotoxicity of any kind • Grade 2 CRS in one patient, Grade 1 CRS in seven patients, median 1-day duration Median Subject NX2-001 NX2-002 NX2-003 NX2-004 NX2-005 NX2-006 NX2-007 NX2-008 NX2-009 NX2-010 (Range) Do
Slide 21: NEXICART-2 (U.S.): Drivers of Complete Response in relapsed/refractory AL Amyloidosis
NEXICART-2 (U.S.): Drivers of Complete Response (CR) in relapsed/refractory AL Amyloidosis Drives Drives MRD Negativity Normalization of Immunofixation Light Chains Slower (weeks or months) Faster (days or weeks) Complete Response (CR) As of April 11 data cutoff, all 10 patients are: either classifi
Slide 22: Single-arm potentially pivotal NEXICART-2 trial designed considering NEXICART-1
Single-arm potentially pivotal NEXICART-2 trial designed considering NEXICART-1 and precedents in AL 2021 daratumumab (DARZALEX) FDA Approval NXC-201 NEXICART-2 Line of Therapy Newly Diagnosed Relapsed/Refractory Standard of Care (SoC) 3-drug combination: Cyclophosphamide, ✓ None (no FDA approvals)
Slide 23: NEXICART-1: Single-Center Ex-US CAR-T NXC-201 Clinical Trial
NEXICART-1: Single-Center Ex-US CAR-T NXC-201 Clinical Trial
Slide 24: NEXICART-1 (Israel): Normalization of Diseased Free Light Chains 30 Days after Dosing
NEXICART-1 (Israel): Normalization of Diseased Free Light Chains 30 Days after Dosing NXC-201 RAPIDLY ELIMINATES DISEASED AL AMYLOIDOSIS PLASMA CELLS WITHIN ~30 DAYS “An early and deep hematologic response has been found to lead to significantly prolonged survival” – Vaishali Sanchorawala, M.D. Prof
Slide 25: NEXICART-1 (Israel): 6 patients had pre-existing heart failure; 10 preserved heart function
NEXICART-1 (Israel): 6 patients had pre-existing heart failure; 10 patients had preserved heart function at enrollment d PRE-EXISTING HEART FAILURE CAUSES PHYSICALLY IRREVERSIBLE DISTORTION OF HEART STRUCTURE, SHAPE AND SIZE Preserved heart function Pre-existing heart failure Median (range) Patient
Slide 26: NEXICART-1 NXC-201 Produces Durable Complete Responses in Patients with Preserved Heart Function
NEXICART-1 (Israel) NXC-201 Produces Durable Complete Responses in Patients with Preserved Heart Function Duration of response (ASH 2024) Stage 2 Ongoing response Stage 1 Cardiac death in CR/VGPR Stage 1 Cardiac death while in PD Stage 1 Preserved Stage 3a Discontinued heart function Target For U.S.
Slide 27: NEXICART-1 (Israel): 75% Complete Response Rate
NEXICART-1 (Israel): 75% Complete Response Rate (is the FDA Regulatory Endpoint) Preserved heart function Pre-existing heart failure Patient # 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 CART cells infused 150 450 800 450 800 800 800 800 800 800 800 800 800 800 800 800 (x106) Best hematologic CR CR CR CR
Slide 28: NXC-201: Potential to Expand to Other Serious Diseases
NXC-201: Potential to Expand to Other Serious Diseases
Slide 29: CAR-T NXC-201 Targets Plasma Cells (antibody factories of the body)
CAR-T NXC-201 Targets Plasma Cells (antibody factories of the body) ANTIBODY FACTORY PLASMA CELLS PRODUCE ANTIBODIES THAT DRIVE IMMUNE-MEDIATED DISEASES AL Amyloidosis Neurology Hematology Rheumatology Vascular Infiltrates and damages heart • Myasthenia Gravis • Thrombotic thrombocytopenic purpura •
Slide 30: NXC-201 BCMA CAR-T targeting is uniquely suited to address Other Serious Diseases
NXC-201 BCMA CAR-T targeting is uniquely suited to address Other Serious Diseases NXC-201 BCMA CAR-T TARGETS OTHER DISEASE CAUSING LONG-LIVED PLASMA CELLS NXC-201 ~80% of all antibodies are produced by plasma cells… BCMA is expressed on long lived plasma cells NXC-201 BCMA CART targets long lived pl
Slide 31: Appendix 1: Technology
Appendix 1: Technology September 2025
Slide 32: N-GENIUS Platform: Sterically-Optimized CAR-T construct
N-GENIUS Platform: Sterically-Optimized CAR-T construct “Digital Filter” reduces non- specific activation, leading to better tolerability ALL BCMA CAR-TS ARE NOT CREATED EQUAL N-GENIUS PLATFORM NXC-201 sterically-optimized CAR-T’s “Digital Filter”…. …reduces non-specific activation 1 Proprietary Opt
Slide 33: Proprietary Sterically-Optimized CD3ζ + CD8 Delivers Digital Intracellular Signaling
NXC-201 sterically-optimized CAR-T’s “Digital Filter” …reduces non-specific activation 1 Proprietary Sterically-Optimized CD3ζ + CD8 Delivers “Digital” Intracellular Signaling, Eliminates Neurotoxicity, Reduces CRS Duration CD3ζ CARs rely on activation of CAR-T cells through CD3ζ derived immunorecep
Slide 34: Proprietary Sterically-Optimized CD8 Hinge
NXC-201 sterically-optimized CAR-T’s “Digital Filter” …reduces non-specific activation 2 Proprietary Sterically-Optimized CD3ζ + CD8 Delivers “Digital” Intracellular Signaling, Eliminates Neurotoxicity, Reduces CRS Duration CD8 Hinge NXC-201: Optimized (Decreased) 216,058 >(90%) 4,050 >(60%) Literat
Slide 35: Sterically-Optimized COBRA Binder Ensures High Expression And Binding Affinity
3 Sterically-Optimized COBRA Binder Ensures High Expression And Binding Affinity COBRA Binder HSL VH (GGGGS)5 VL 3.6 HSL LSH LSH VL (GGGGS)5 VH 80 COBRA Binder 1.6 Leads with 76 NXC-201 Heavy Chain COBRA Binder: Heavy Day 10 CAR-T Expansion (10^7) Specific Cytotoxicity (%): JeKo1 Chain – Proven Link
Slide 36: Proprietary EXPAND Technology and COBRA Binding Domain Are Differentiated Innovations
Proprietary EXPAND Technology and COBRA Binding Domain Are Differentiated Innovations N-GENIUS TECHNOLOGY PLATFORM: STERICALLY-OPTIMIZED BCMA CAR-T NXC-201 Abecma Carvykti CART-ddBCMA NXC-201 with COBRA Binding Domain γ N-GENIUS EXPAND Technology γ Note: Graphic representation. COBRA = Codon Optimiz
Slide 37: N-GENIUS Sterically-Optimized CARTs Drive Immix's Immune-Mediated Disease Leadership
N-GENIUS Sterically-Optimized CARTs Drive Immix’s Immune-Mediated Disease Leadership N-GENIUS Platform Through partnership Hadassah Medical Organization, Jerusalem and Bar-Ilan University, Immix is a pioneer in sterically-optimized CAR-T construct development, driving our next-generation industry-le
Slide 38: What is autologous chimeric antigen receptor (CAR)-T cell therapy?
What is autologous chimeric antigen receptor (CAR)-T cell therapy? NXC-201 IS A NEXT-GENERATION BCMA TARGETED AUTOLOGOUS CAR-T CELL THERAPY Patient Specific Personalized treatment using patient’s own T cells plasma Genetic Modification Genetically engineered CARs (chimeric antigen receptors) on T ce
Slide 39: N-GENIUS Platform Process
N-GENIUS Platform Process 1 2 3 4 5 Problem Identification Research Group Platform Foundation Candidate Creation Final Candidate CAR-T Toxicity Main Block to Formation N-GENIUS Platform with EXPAND Entire CAR-T construct optimized with N- Selection Widespread Use: Neurotoxicity Technology aims to ac
Slide 40: Appendix 2: AL Amyloidosis Clinical
Appendix 2: AL Amyloidosis Clinical
Slide 41: Advantages of CAR-T NXC-201 in Relapsed/Refractory AL Amyloidosis
Advantages of CAR-T NXC-201 in Relapsed/Refractory AL Amyloidosis Antibody-drug NXC-201 Bispecifics conjugates 1 One-time treatment NXC-201 uniquely suited for 2 High Complete Response Rates Relapsed/Refractory AL Amyloidosis 3 Low rates of severe infection 4 No ICANS/Neurotoxicity Note: High comple
Slide 42: NXC-201 Overcomes Limitations of Other Modalities in Performance and Tolerability
In AL Amyloidosis, NXC-201 Overcomes Limitations of Other Modalities in Performance and Tolerability Challenges of bispecifics/ T-cell engagers NXC-201 overcomes these challenges • No clinical trials with clinical data • 75% CR in relapsed/refractory AL available in relapsed/refractory AL amyloidosi
Slide 43: Complete Hematologic Response is correlated with longer survival
Complete Hematologic Response is correlated with longer survival COMPLETE HEMATOLOGIC RESPONSE WAS PRIMARY ENDPOINT IN 2021 DARATUMUMAB APPROVAL STUDY AND ONGOING NEXICART-2 TRIAL Complete Hematologic Response (CR) associated with improved survival in AL 2x survival at 48 months for CR vs PR • Compl
Slide 44: MRD- is Correlated with Improved PFS in AL Amyloidosis
MRD- is Correlated with Improved PFS in AL Amyloidosis MRD negativity is associated with improved Progression Free Survival in AL 2x PFS at 36 months for MRD- vs MRD+ (patients with CR or VGPR) • MRD negative patients have 88% 36-month PFS PFS Probability • MRD positive patients have 46% 36-month PF
Slide 45: Principal Investigator for NEXICART-2: Heather Landau, MD
Principal Investigator for NEXICART-2: Heather Landau, MD • Director of the Amyloidosis Program and a Bone Marrow Transplant Specialist & Cellular Therapist at Memorial Sloan-Kettering Cancer Center in New York. • Authored more than 100 peer-reviewed publications. • Dr. Landau received her medical d
Slide 46: NXC-201 CAR-T cells penetrate tissues and repeat kill disease-causing cells
NXC-201 CAR-T cells penetrate tissues and repeat kill disease-causing cells in AL Amyloidosis Diseased AL amyloidosis bone These disease-causing plasma AL Amyloidosis pathologic light chains emerge from deep in the marrow contains densely cells generate a high density of bone marrow where they are p
Slide 47: Amyloid deposits in AL Amyloidosis are cleared naturally after treatment
Amyloid deposits in AL Amyloidosis are cleared naturally after treatment BEFORE TREATMENT 2 YEARS AFTER TREATMENT High-dose melphalan and peripheral blood Pre-treatment imaging Post-treatment imaging stem-cell shows dense amyloid transplantation shows clearance of amyloid deposits in liver and splee
Slide 48: NXC-201 Designed for High Activity Against Disease-causing AL Amyloidosis Plasma Cells
NXC-201 Designed for High Activity Against Disease-causing AL Amyloidosis Plasma Cells ALL BCMA CAR-TS ARE NOT CREATED EQUAL a) Uneven BCMA expression and b) frail patient condition has historically prevented conventional, approved CAR-T use in AL Amyloidosis NXC-201 was designed and tested for huma
Slide 49: NXC-201 May Be a Curative Treatment for AL Amyloidosis
NXC-201 May Be a Curative Treatment for AL Amyloidosis ALL BCMA CAR-TS ARE NOT CREATED EQUAL AL amyloidosis is caused by dysfunctional plasma cells that can live for years, continuously producing toxic, misfolded amyloid light chain antibody fragments Bone Marrow Normal LLPC Clone 1 (e.g. common col
Slide 50: Pathologic Light Chains in AL Amyloidosis are an Antibody Building Block Overproduced
Pathologic Light Chains in AL Amyloidosis are an Antibody Building Block That Are Overproduced by Plasma Cells A LIGHT CHAIN IS A PORTION OF AN ANTIBODY IN AL, PLASMA CELLS PRODUCE TOO MANY LIGHT CHAINS Diseased light chains Light chain portion in AL Amyloidosis: of antibody excessive production by
Slide 51: This Is Pre-Existing Heart Failure in AL Amyloidosis
This Is Pre-Existing Heart Failure in AL Amyloidosis PRE-EXISTING HEART FAILURE CAUSES PHYSICALLY IRREVERSIBLE DISTORTION OF HEART STRUCTURE, SHAPE AND SIZE Pre-existing heart failure Preserved heart function 51 -
Slide 52: Appendix 3: Market
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Slide 53: Robust Global Sales of CAR-T Continue
Robust Global Sales of CAR-T Continue Sales of Approved CAR-T ($M) Sales of Approved Bispecifics ($M) 4,800 4,800 Yescarta Tecartus Tecvayli Blincyto 4,400 Kymriah Carvykti 4,400 Epkinly Lunsumio 4,000 Abecma Breyanzi 4,000 Columvi 3,600 3,600 3,200 3,200 2,800 2,800 2017 – 2024 2,400 CAGR: 131% 2,4
Slide 54: Clinical Stage Cell Therapy for AL Amyloidosis and Other Serious Diseases
Clinical Stage Cell Therapy for AL Amyloidosis and Other Serious Diseases September 2025
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