Immix Biopharma up on FDA's 'orphan drug' tag for blood disorder therapy

Immix Biopharma

21/09/2023 16:55

** Shares of cancer drug developer Immix Biopharma  IMMX.O 
up 4.7% at $3.1
    ** Company says U.S. FDA granted "orphan drug" designation
to its experimental cell therapy, NXC-201, to treat a
life-threatening blood disorder, Amyloid Light Chain (AL)
Amyloidosis
    ** NXC-201 is in early stage of development for AL
Amyloidosis — caused when antibody-producing cells disfunction
and produce abnormal protein fibers made of light chains, which
are components of antibodies 
    ** FDA in August granted "orphan drug" tag to NXC-201 for
treatment of multiple myeloma — blood cancer of plasma cells
that starts in the bone marrow
    ** The therapy is in early-to-mid-stage of development for
multiple myeloma 
    ** Orphan drug status is given by the FDA to drugs that
treat rare conditions, and are protected through a series of
government incentives once in market
    ** Including session moves, stock up 36.7% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))