Immix Biopharma, Inc. · NASDAQ:IMMX
Immix Biopharma — Investor Presentation (November 2025)
40 slides from Immix Biopharma's investor presentation, November 2025
Slide 1: The Global Leader in Relapsed/Refractory AL Amyloidosis
The Global Leader in Relapsed/Refractory AL Amyloidosis November 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: The Moment Every Doctor and Family Dreads
The Moment Every Doctor and Family Dreads... "There's Nothing More We Can Do."
Slide 4: In AL amyloidosis, that sentence is delivered to 34,000 US patients
In AL amyloidosis, that sentence is delivered to 34,000 US patients. Source: Incidence and prevalence: Quock T et al, Epidemiology of AL amyloidosis: a real-world study using US claims data. Blood 2018. Amyloidosis Foundation. AL amyloidosis facts. https://amyloidosis.org/al/. Accessed October 2025.
Slide 5: It's not good enough to accept the status quo
It's not good enough to accept the status quo I've been the doctor in that room. I've watched hope disappear, and I couldn't accept that months of suffering and subsequent death was "standard of care." Ilya Rachman, MD PhD, Founder and CEO
Slide 6: When Your Immune System Becomes Your Killer
When Your Immune System Becomes Your Killer ► Normally, antibodies protect us like superheroes. In AL amyloidosis, they go rogue, turning into supervillains that flood organs with toxic light chains.
Slide 7: Painful and Unnecessary Months of Suffering
Painful and Unnecessary Months of Suffering Healthy AL Amyloidosis These toxic light chains clog up the heart, kidneys, and liver. Breathing becomes difficult, swelling begins, and even a short walk becomes challenging.
Slide 8: The Current Paradigm is failing: Standards of Care
The Current Paradigm is failing: Standards of Care 12 Patient Series Relapsed/Refractory AL Amyloidosis Receiving Second Line Therapy Initial Dosing Death due 11 out of 12 to Disease v dFLC Level 1 out of 12 Remission: v No Symptoms Days since treatment → There are no drugs approved in relapsed/refr
Slide 9: The Toxic Current Last Ditch Effort
The Toxic Current Last Ditch Effort Only one 4-drug combination exists for newly diagnosed patients only. Once relapse hits, there's nothing FDA approved. Doctors often resort to reusing older drugs, despite their limited efficacy.
Slide 10: We've found a breakthrough to change that hopeless sentence
We've found a breakthrough to change that hopeless sentence Our mission is simple: Create medicines that work without destroying the patient.
Slide 11: NXC-201 Outperforms Standard of Care
We re-engineer the immune system to fight for you again. NXC-201 Outperforms Standard of Care Dosing Dosing Standard of Care 0-10% complete 70% complete response rate response rate (investigator’s choice) (NXC-201, ASCO 2025) 1 year 1 year Note: Patient values are illustrative. R/R AL investigator's
Slide 12: The Science that makes it all possible
The Science that makes it all possible NXC-201 sterically-optimized CAR-T’s “Digital Filter”…. …reduces non-specific activation 1 Proprietary Optimized 2 Proprietary Optimized 3 Proprietary Optimized CD3 – “CD3ζγ” CD8 Hinge Flexibility COBRA Binder ✓ Delivers “Digital” ✓ Reduces cytokine release ✓ E
Slide 13: Extraordinary results in clinical trials
Extraordinary results in clinical trials Relapsed/refractory AL Amyloidosis - Market Situation Current Standards of care Immix Biopharma 0-10% complete response rate 70% complete response rate (investigator's choice) (NXC-201, ASCO 2025)
Slide 14: What that means for the patient
What that means for the patient… Life becomes normal again. A deep breath that reaches the bottom of the lungs. A walk that doesn't end at the mailbox. A normal heartbeat again.
Slide 15: The Multi-Billion Dollar Economic Scale of This Impact
The Multi-Billion Dollar Economic Scale of This Impact ~$500K 34,000 patients per NXC-201 treatment MULTI-BILLION-DOLLAR MARKET Note: Future management expected pricing represented on this page
Slide 16: Our Unique Position to Transform This Disease
Our Unique Position to Transform This Disease Only CAR-T in development for AL amyloidosis. No approved therapies for relapsed/refractory patients. RMAT + Orphan Drug Designation secure regulatory path.
Slide 17: The Road Ahead
The Road Ahead 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 Review U.S. Phase
Slide 18: The Road Ahead: BLA submission for approval plan
The Road Ahead >50% enrolled BLA submission for approval plan 1H 2026 18
Slide 19: The Road Ahead: Commercial launch plan
The Road Ahead: Commercial 18 high-prescribing Commercial launch Sites in existing plan late 2026 Immix clinical trial 19
Slide 20: The Platform Goes Far Beyond AL
The Platform Goes Far Beyond AL CAR-T NXC-201 Targets Plasma Cells (antibody factories of the body) AL Neurology Hematology Rheumatology Vascular Amyloidosis Infiltrates and damages heart • Thrombotic • Systemic Lupus • Myasthenia Gravis • ANCA vasculitis thrombocytopenic purpura Erythematosus • NMO
Slide 21: A World Class Team Dedicated To Saving Hundreds of Thousands of Lives
A World Class Team Dedicated To Saving Hundreds of Thousands of Lives Amanda Squires Ilya Rachman, MD, PhD Head of Clinical Chief Executive Office Operations Gabriel Morris Oleg Evgrafov, Chief Financial Officer Head of Quality Mel Davis-Pickett, Denise Bruns Senior Head of Technical Regulatory Advi
Slide 22: We are on the brink of turning despair into hope
We are on the brink of turning despair into hope Success here opens the door to treating dozens of immune diseases, unlocking billions in market potential and changing millions of lives.
Slide 23: Changing the sentence forever
Changing the sentence forever... "Are there any options left?" Because of Immix, the answer is finally: "Yes."
Slide 24: The Global Leader in relapsed/refractory AL Amyloidosis
The Global Leader in relapsed/refractory AL Amyloidosis
Slide 25: 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 26: NEXICART-1 (Israel): Normalization of Diseased Free Light Chains
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 27: NEXICART-2: Multi-Center U.S. CAR-T NXC-201 Clinical Trial
NEXICART-2: Multi-Center U.S. CAR-T NXC-201 Clinical Trial with Registrational Design
Slide 28: NEXICART-2 (U.S.): Patient enrollment focused on 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 29: 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 29
Slide 30: NEXICART-2 (U.S.) Clinical Activity: 70% Complete Responses
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 31: NEXICART-2 (U.S.) Safety
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 32: The Global Leader in relapsed/refractory AL Amyloidosis
The Global Leader in relapsed/refractory AL Amyloidosis October 2025
Slide 33: 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 34: 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 34,750 • ~35% of patients on ~80% patients eligible Subtract 4% Darzalex combos Darzalex Beginning reach a CR for tr
Slide 35: NXC-201 Tolerability Drives AL Amyloidosis Leadership
NXC-201 Tolerability Drives AL Amyloidosis Leadership All BCMA CAR-Ts are not created equal Median CRS Duration (Days) NXC-201’s short CRS duration makes it uniquely NXC-201 suitable to treat ALA patients (in whom the #1 source Anito-cel D8 BCMA /CARTddBCMA /AUTO8 of mortality is heart failure) Othe
Slide 36: 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 37: NXC-201 Overcomes Limitations of Other Modalities
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 38: 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 Study design • Open-label, single-arm, multi-site phase 1/2 study • n=40 patients Key criteria Inclusion •AL Amyloidosis patients exposed to at least 1 line of therapy including a CD3
Slide 39: AL Amyloidosis – an active, multi-billion dollar indication
AL Amyloidosis – an active, multi-billion dollar indication Annual sales into AL Amyloidosis Acquisition Valuation $1.4-2.8 billion $500M $426M Source: Company, Pitchbook, Public information 39
Slide 40: Market Reference: Commercialization Cost Trend Over Time
Market Reference: Commercialization Cost Trend Over Time $1,200 Yescarta 2017 ~$1bn Gilead highlighted cell therapy business was $1,000 close to break-even in 2024, with sales ~$1.5bn $800 COGS + SG&A(1) in Launch Year Elevidys 2023 $600 $544 (3) (2) $528 $479 Casgevy 2023 Carvykti $400 New launches
Immix Biopharma — Investor Presentation (November 2025) on 6ix