Immix Biopharma has announced the in-licensing of NXC-201, a novel chimeric antigen receptor T-cell (CAR-T) therapy, which has shown high response rates in multiple myeloma and AL amyloidosis. The newly formed company, Nexcella, a subsidiary of Immix, will progress NXC-201 through a Phase Ib/II trial in multiple myeloma (MM), which contains a subset with AL amyloidosis (ALA). MM and ALA are diseases with serious unmet medical needs, hence this deal, in our view, could present opportunities for Immix. The company believes NXC-201 has the potential to be the first and only out-patient CAR-T therapy. The drug trial had been sponsored by Hadassah Medical Organization; however, Immix will now assume sponsorship of the study. We await communication from management on the full terms of the deal. As such, our valuation and financial estimates for Immix are under review.