Slides
Page 1
Global Leader in Relapsed / Refractory AL Amyloidosis ASH This presentation contains clinical data presented at ASH Dec 7 , 2025 with a May 2026 update on pages 19-23 August 2026 :: IMMIX BIOPHARMA
Page 2
2 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.’s (the “Company”) strategy, future operations, future financial position, projected costs, prospects, plans, and objectives of management, are forward-looking statements. The words ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ “depends,” ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ “ongoing,” ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘target,’’ ‘‘should,’’ “will,” ‘‘would,’’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements. In addition, the forward-looking statements included in this presentation represent the Company’s views as of the date of this presentation. The Company anticipates that subsequent events and developments will cause its views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this presentation. This presentation also includes data from other approved therapies and in trials, which are generated from separate, independent studies and do not come from head-to-head analysis. Differences exist between study or trial designs and subject characteristics, and caution should be exercised when comparing data across studies sourced from publicly available sources. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us.
Page 3
The moment every doctor and family dreads… “There’s nothing more we can do.” In AL amyloidosis, that sentence has been delivered to 30,506 patients living in the U.S.
Page 4
I’ve been the doctor in that room. I’ve watched hope disappear. And I couldn’t accept that suffering was “standard of care.” Ilya Rachman, MD, PhD Chief Executive Officer, Founder
Page 5
When your immune system becomes your killer In AL amyloidosis, they go rogue, turning into supervillains that flood the body with toxic light chains. Normally, antibodies protect us like superheroes.
Page 6
The Toxic Last Ditch Effort A single FDA approval – a 4-drug combination – exists, for newly diagnosed patients only. And it doesn’t work for everyone. Once relapse hits, there's nothing FDA approved. Then, doctors resort to recycling off-label drugs, knowing they’ll fail again. Note: ~2/3 of patients are estimated to require a second -line therapy after the FDA -approved 4-drug combination Source: Daratumumab: 1) Bellofiore C, et al. A real-life study of daratumumab combinations in newly diagnosed patients with light chain (AL) amyloidosis. Hematol Oncol. 2024. 2) Chakraborty R et al, Reduced early mortality with Daratumumab-based frontline therapy in AL amyloidosis: A retrospective cohort study. AJH 2024. 3) Bazarbachi AH et al. Timing and outcomes of second-line therapy in the era of daratumumab-based frontline therapy in AL amyloidosis. Am J Hematol. 2024 Nov;99(11):2225-2228. doi: 10.1002/ajh.27450. Epub 2024 Aug 3. PMID: 39096115.
Page 7
AL Amyloidosis Response Rate After The 4-Drug Combination Fails Initial Dosing Death due to Disease Remission: No Symptoms There are no drugs approved in relapsed/refractory AL amyloidosis. Current investigators' choice agents produce an unsatisfactory reduction in AL amyloidosis disease markers (dFLC) with a low (0-10%) complete response (CR) rate v 11 out of 12 v 1 out of 12 Days since treatment → Note: R/R AL investigator's choice therapies included: Dara -VCd, Dara-Vd, Dara-VRd, Dara-Dex, Dara-Cd, Dara-Pom-Dex, Bendamustine-Dex Source: Bazarbachi AH et al. Timing and outcomes of second-line therapy in the era of daratumumab-based frontline therapy in AL amyloidosis. Am J Hematol. 2024 Nov;99(11):2225-2228. doi: 10.1002/ajh.27450. Epub 2024 Aug 3. PMID: 39096115. Zanwar S, et al. Treatment patterns for AL amyloidosis after frontline daratumumab, bortezomib, cyclophosphamide, and dexamethasone treatment failures. Leukemia 2024. Normal dFLC: <10 mg/L. dFLC Level 7 12 PATIENT SERIES RECEIVING SECOND LINE THERAPY
Page 8
AL Amyloidosis: 30,506 Relapsed/Refractory U.S. Patients with No FDA Approved Drugs Note: Prevalence up to 38,000 according to Quock T et al, Epidemiology of AL amyloidosis: a real-world study using US claims data. Blood 2018. Source: Merlini, G., et al. Nat Rev Dis Primers. Oct 2018, Front. Cardiovasc. Med., Dec 2022, Hemato 2022, 3(1), 47-62. Lu R, Richards TA. AL Amyloidosis: Unfolding a Complex Disease. J Adv Pract Oncol. 2019;10(8):813-825. Quock T et al, Epidemiology of AL amyloidosis: a real-world study using US claims data. Blood 2018. Staron A, et al. Marked progress in AL amyloidosis survival: a 40-year longitudinal natural history study. Blood Cancer Journal. 2021;11:139. Bone marrow Circulation Target tissues Light chains • Heart failure • Dangerous, irregular rhythms • Difficulty breathing • Low blood pressure Heart Kidney • Kidney failure • Elevated protein in the urine • Swelling of the limbs Liver • Enlarged liver • Abnormal enzyme levels Sheet of misfolded light chains (amyloid) Light chains misfold and aggregate Light chains deposit in organs, damaging organs BCMA receptor NXC-201 TARGETS BCMA RECEPTOR ON PLASMA CELLS, ELIMINATING SOURCE OF LIGHT CHAINS Light chains produced by dysfunctional plasma cells in bone marrow Bone marrow plasma cells NXC-201 TARGETS AL AMYLOIDOSIS PLASMA CELLS THAT EXPRESS BCMA ON CELL SURFACE Pre-existing heart failure caused by AL Amyloidosis (immediately prior to heart transplant) ✓ Goal with NXC- 201 is to treat R/R patients early enough to prevent reaching heart failure stage shown here dFLC (mg/L) 20mg/L
Page 9
We’ve found a breakthrough to change that hopeless sentence Our mission is simple: Create medicines that work without destroying the person.
Page 10
10 NXC-201 sterically-optimized CAR-T’s “Digital Filter”…. …reduces non-specific activation Source: M. Assayag, et al. Academic BCMA-CART cells (HBI0101), a promising approach for the treatment of LC Amyloidosis. 27th An nual Meeting of The American Society of Gene and Cell Therapy (ASGCT). Late Breaking Oral Presentation. Baltimore, MD. May, 2 024. Feucht, M. Sadelain, et al. Calibration of CAR activation potential directs alternative T cell fates and therapeutic potency. Nature Medicine. 2019 Jan;25(1):82-88. doi: 10.1038/s41591-018-0290-5. Epub 2018 Dec 17. PMID: 30559421 PMCID: PMC6532069. O. Harush C. J. Cohen, et al. Preclinical evaluation and structural optimizati on of anti-BCMA CAR to target multiple myeloma. Haematologica. 2022 Oct 1;107(10):2395-2407. doi: 10.3324/haematol.2021.280169. PMID: 35354252 PMCID: PMC9521250. Adapted from PEGS 2021. Zanwar S, et al. Eyal Lebel et al., Efficacy and Safety of Anti–B-Cell Maturation Antigen Chimeric Antigen Receptor T -Cell for the Treatment of Relapsed and Refractory AL Amyloidosis. JCO. JCO -24-02252. DOI:10.1200/JCO-24-02252. CD8 Signaling Protein COBRA BinderCD8 Hinge4-1BBCD3ζγ CD8 Transmembrane Protein Sterically-optimized key construct modifications 1 Proprietary Optimized CD3 – “CD3ζγ” 2 Proprietary Optimized CD8 Hinge Flexibility 3 Proprietary Optimized COBRA Binder ✓ Delivers “Digital” Intracellular Signaling ✓ Enhances Cytotoxicity ✓ Enables High Expansion ✓ Reduces cytokine release NXC-201 CAR-T 10 The Science That Enables Our Platform “Single amino acid substitutions at key sites can affect CAR-T function over 200-fold range” Ex-NCI/NIH Immix academic researchers ambitiously formulated a thesis: can cell therapy be expanded to a broader patient population, beyond cancer? Result: Sterically-optimized NXC-201 Decreased CD8 hinge flexibility … led to reduced tonic signaling Ex-NIH/NCI Immix academic researchers tuned hinge and transmembrane to reduce tonic immune response(1) 216,058 8,016 >90% reduction in IFNγ (pg/mL): K562-BCMA co-culture bb2121 (Abecma) NXC-201 (2) (3) “In activated T cells, the CD3ζ chain gets ubiquitinated by CBLB at its multiple lysine residues and induces degradation of surface TCRs” doi: 10.1038/s41392-021-00823-w “We hypothesized that the redundancy of CD28 and CD3ζ signaling in a chimeric antigen receptor (CAR) design incorporating all three CD3ζ immunoreceptor tyrosine-based activation motifs (ITAMs)11,13 may foster counterproductive T cell differentiation and exhaustion. Therefore, we calibrated ITAM activity by mutating tyrosine residues to impede their phosphorylation and downstream signaling” doi: 10.1038/s41591-018-0290-5 Impeded phosphorylation of ITAM1, added ubiquitination site… led to “digital” quick on/off Sterically-Optimized Binder … led to enhanced cytotoxicity 2 3.6 76 80 HSL VH (GGGGS5) VL LSH VL (GGGGS5) VH Sterically-Optimized Heavy Chain – Proprietary Linker – Light Chain … Day 10 CAR-T Expansion (107) Specific Cytotoxicity (%): target cell co-culture LSH HSLLSH HSL … Results in Superior CAR-T Expansion and Specific Cytotoxicity 4-1BB ICD ITAM domain Immune Reactivity Result of Steric Optimization:
Page 11
11 Extraordinary Results in Clinical Trials Relapsed/refractory AL Amyloidosis - Market Situation Current Standards of Care NXC-201 0-10% complete response rate (standard of care) Note: R/R AL current standard of care therapies included: Dara-VCd, Dara-Vd, Dara-VRd, Dara-Dex, Dara-Cd, Dara-Pom-Dex, Bendamustine-Dex Source: Bazarbachi AH et al. Timing and outcomes of second-line therapy in the era of daratumumab-based frontline therapy in AL amyloidosis. Am J Hematol. 2024 Nov;99(11):2225-2228. doi: 10.1002/ajh.27450. Epub 2024 Aug 3. PMID: 39096115. Zanwar S, et al. Treatment patterns for AL amyloidosis after frontline daratumumab, bortezomib, cyclophosphamide, and dexamethasone treatment failures. Leukemia 2024. Landau H et al. Initial Safety and Efficacy Data from Nexicart-2, the First U.S. Trial of a CAR-T (NXC-201) in Relapsed or Refractory (R/R) Light Chain (AL). ASH 2025. 95% complete response rate (ASH 2025 with May 2026 Update)
Page 12
What that can mean 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. 12
Page 13
Era 4 (2010-2019) Era 3 (2000-2009) Expected 3,000 NXC-201 patients/year R/R AL Amyloidosis The Multi-Billion Dollar Opportunity MULTI-BILLION-DOLLAR OPPORTUNITY $588K 2026 Carvykti/BCMA CAR-T Pricing Note: Future management expected pricing represented on this page Note: Prevalence up to 38,000 according to Quock T et al, Epidemiology of AL amyloidosis: a real-world study using US claims data. Blood 2018. Site numbers are illustrative. Source: Mayo staging: 1) Zanwar S, et al. Treatment patterns for AL amyloidosis after frontline daratumumab, bortezomib, cyclophosphamide, and dexamethasone treatment failures. Leukemia 2024. ASCT: 2) Bomsztyk J et al, Recent guidelines for high-dose chemotherapy and autologous stem cell transplant for systemic AL amyloidosis: a practitioner’s perspective. Expert Review of Hematology 2022. 3) Gustine J et al, Predictors of hematologic response and survival with stem cell transplantation in AL amyloidosis: A 25-year longitudinal study. AJH 2022. Incidence and prevalence: 4) Laires P. et al. Incidence and Prevalence of Light Chain Amyloidosis in the United States in 2019-2021 Using Optum EHR Data. Nature 2025. 5,386 = 20.2 incidence per U.S. adults. 20.2 = 16.7 per million U.S. adults in 2021 cited in Laires et al. grown to 20.2 over 5 years at half the Laires et al. cited CAGR (7.7% / 2 = 3.9%). 5) Average survival derived from Staron A, et al. Marked progress in AL amyloidosis survival: a 40-year longitudinal natural history study. Blood Cancer Journal. 2021;11:139. Daratumumab: 6) Bellofiore C, et al. A real-life study of daratumumab combinations in newly diagnosed patients with light chain (AL) amyloidosis. Hematol Oncol. 2024. 7) Chakraborty R et al, Reduced early mortality with Daratumumab-based frontline therapy in AL amyloidosis: A retrospective cohort study. AJH 2024. 8) Bazarbachi AH et al. Timing and outcomes of second-line therapy in the era of daratumumab-based frontline therapy in AL amyloidosis. Am J Hematol. 2024 Nov;99(11):2225-2228. doi: 10.1002/ajh.27450. Epub 2024 Aug 3. PMID: 39096115. 9) Carvykti average selling price according to CMS. Accessed 6/19/2026. 13 IncidencePrevalence AL Amyloidosis Overall Survival 30,506 patients eligible for treatment with NXC- 201 in the U.S. 5,386 × 5.9 years (average survival) = 31,777 ~20% ASCT eligible2 Subtract 4% Cardiac stage 3b1 (not eligible for NXC-201) • ~35% of patients on Darzalex combos reach a CR in the first line of therapy • 8% of all patients in long-term remission with ASCT (20%*40%3 = 8%) … Of which, 3,447 become R/R each year Existing therapies ~80% Darzalex combo eligible 5,386 annual incidence4 Median: 4.6 years Number of Treating Sites 20 60 1,000 Site Build Up Average: 5.9 years
Page 14
The Road Ahead Prior 2Q25 3Q25 4Q25 1Q26 Q3 26 ✓ NXC-201 U.S. NEXICART-2 Trial with Registration al Design Other NXC-201 U.S. NEXICART-3 Front-Line ✓ Secured rights to NXC-201, N-GENIUS platform from ex- U.S. university ✓ Reported ex-U.S. NEXICART-1 AL Amyloidosis data at ASGCT 2023, ASH 2023, ASGCT 2024, ASH 2024, JCO published 2024 ✓ FDA Orphan Drug Designation (ODD) and Regenerative Medicine Advanced Therapy (RMAT) Designation granted ✓ Mentioned in New England Journal of Medicine (NEJM) AL Amyloidosis Review ✓ NEXICART-2 U.S. AL Amyloidosis clinical trial first 6 patients dosed; first patient at Memorial Sloan Kettering Cancer Center (met guidance) ✓ Reported first 10 patients U.S. NEXICART-2 AL Amyloidosis clinical data Q2 2025 at ASCO 2025 ✓ FDA Breakthrough Therapy Designation granted in January 2026 ✓ Reported first 20 patients U.S. NEXICART-2 AL Amyloidosis clinical data with May 2026 ASH data update Trial Initiation Expected All 45 patients 1-year follow-up update Planned BLA Submission for FDA Approval Phase 1 interim readout ASCO oral presentation All 45 patients Next Update Late Sep 2026 Enrollment complete: 45 total patients March 2026 NXC-201 Initial Clinical Data in Other Serious Diseases 1H 27 14
Page 15
Note: Future management expected pricing represented on this page Note: (4,500 new cases AL) / (SEER New Cases MM in 2025 36,110) = 12.4% * $14bn annual run rate = $1.7bn 20 high-prescribing Sites in existing Immix clinical trial Commercial Commercial launch plan end of 2027 AL Amyloidosis annual sales: ~$1.7bn
Page 16
16 A World Class Team Dedicated To Saving Lives Ilya Rachman, MD, PhD Chief Executive Officer Gabriel Morris President, Chief Financial Officer Denise Bruns Senior Regulatory Advisor Mel Davis-Pickett, Head of Technical Development Oleg Evgrafov, Head of Quality Amanda Squires Head of Clinical Operations Michael Grabow Chief Commercial Officer 16 David Marks, MBBS, PhD Chief Medical Officer
Page 17
We believe we are on the brink of turning despair into hope Success here opens the door to treating other serious diseases 17
Page 18
18 Study design • Open-label, single-arm, multi-site phase 1/2 study • n=45 patients Key criteria Outcome measures Inclusion •AL Amyloidosis patients exposed to at least 1 line of therapy including a CD38 monoclonal antibody Exclusion •Prior anti-BCMA directed therapy •Cardiac: Mayo stage 3b, NYHA stage III/IV •Concomitant Multiple Myeloma • Safety • Efficacy: Complete hematologic response (CR) NEXICART-2 U.S. Relapsed/Refractory AL Amyloidosis Trial (NCT06097832) Note: Complete Response according to consensus recommendations in AL amyloidosis (Palladini, et al. 2012. "Consensus guidelin es for the conduct and reporting of clinical trials in systemic light -chain amyloidosis." Leukemia 26(11): 2317 -2325.) U.S. TRIAL WITH REGISTRATIONAL DESIGN, ENROLLMENT COMPLETED
Page 19
19 NEXICART-2 (U.S.) Baseline Characteristics: Representative of U.S. R/R AL Amyloidosis Patient Population ^ Prior autologous stem cell transplantation (ASCT) ^^ Two prior ASCT *Denotes hs-Troponin-T; † Denotes Troponin-T Note: Data cut-off as of May 14, 2026 NX2-001 NX2-002 NX2-003 NX2-004 NX2-005 NX2-006 NX2-007 NX2-008 NX2-009 NX2-010 NX2-011 NX2-012 NX2-013 NX2-014 NX2-015 NX2-016 NX2-017 NX2-018 NX2-019 NX2-020 Median (range) Age 56 67 82 64 62 72 77 66 63 80 65 65 59 49 73 59 71 71 82 64 66 (49-82) Gender Female Female Male Female Female Male Male Male Male Male Female Female Female Female Female Male Male Female Female Female - Prior lines of therapy 4^ 6^^ 2 4 4^ 3 4^ 4^ 4^ 3^ 1 10 4^^ 1 8^ 5 2 9^ 2 3^ 4 (1-10) Follow-up (days) 687 659 603 473 127 512 484 477 469 427 420 414 90 392 385 364 351 329 329 322 417 (90-687) dFLC (mg/L) 65 24 - 86 42 26 47 121 84 - - 70 274 26 54 24 194 73 45 22 54 (22-274) M-Spike (g/dL, if dFLC not inclusion criteria) - - 0.79 - - - - - - 0.65 0.52 - - - - - - - - - - Organ involvement Heart/ Soft Tissue Heart/GI/ Nerve Kidney Heart/ GI/Nerve Kidney Heart Nerve/ Skin Heart/ Liver Heart/ Tongue Kidney/ Heart Heart/ Nerve/GI Heart/GI Heart Heart/GI/ Nerve Kidney Nerve Heart/ Kidney Kidney GI Kidney - NYHA stage I II I I I I I II I II II II I II I I II I I I - NT-ProBNP (ng/L) 146 560 1,297 218 805 989 143 909 289 290 2,017 232 155 355 1,385 113 627 526 231 NA 355 (113-2,017) hs-Troponin-I (ng/L) 7 6 42 7 11 31 14† 47* 6 52 6 11† 13 10* 8 14* 75* 7 5 0 10 (0-75) Creatinine (mg/dL) 0.7 1.1 2.2 0.7 2.7 0.8 1.3 0.8 0.9 0.9 0.5 1.0 0.9 0.6 1.3 1.0 1.0 0.7 0.8 1.2 0.9 (0.5-2.7) Albuminuria (mg/24 hrs) 143 0 3,032 0 10,274 0 135 360 13 2,153 135 144 136 310 2,061 6 5,660 2,000 140 4,478 144 (0-10,274) Mayo Stage at Diagnosis II II II IIIa I IIIa - II IIIb IIIa II I IIIa II II I IIIa I I I - Mayo Stage at Enrollment I II IIIa IIIa II IIIa - II I II II I II I II I IIIa II I I - preserved heart function Presented Dec 7, 2025 at ASH with May 2026 update
Page 20
20 Subject #NX2- 13 16 07 01 02 04 05 06 08 09 12 14 15 17 18 19 20 11 10 03 Time to response (days) 7 7 7 14 7 7 7 7 7 7 7 7 7 7 7 7 7 160 7 15 Disease Marker Normal ( ) as of data cutoff Above Norma l Follow-up (days) 90 364 484 687 659 473 127 512 477 469 414 392 385 351 329 329 322 420 427 603 NEXICART-2 (U.S.) Efficacy: Rapid Normalization of Diseased Light Chains within ~First Week Note: Data cut-off as of May 14, 2026. dFLC: difference in free light chain (disease marker). Renal response based on AL Amyloidosis consensus criteria for renal respon se (Palladini G et al 2014 doi: 10.1182/blood-2014-04-570010). Most recent available dFLC reading for patient NX2-001 as of day 656. For patient NX2 -002, as of day 622. 4 out of 4 cardiac organ responses evaluable – NX2-006, NX2-008 , NX2- 011, NX2-015. 6 out of 6 renal responses evaluable – NX2-003, NX2-010, NX2-015, NX2-017, NX2-018, NX2-020. 1 out of 1 liver response evaluable – NX2-008. AL Amyloidosis disease markers on line graph: All patient data is dFLC (left-hand side vertical axis), except for patients NX2 -003, NX2-010, and NX2-011 which are m-spike (right-hand side vertical axis). Patient NX2-013 withdrawn from study on D+90 days due to hematologic progression. NX2-011 M-spike igg type (longer half-life) NX2-003, NX2-010 M-spike iga type (shorter half-life) • Organ responses in 100% (11/11) evaluable (100% , 100% , 100% ) Presented Dec 7, 2025 at ASH with May 2026 update -91.13% -93.36% -98.46% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100.00% -100% -90% -80% -70% -60% -50% -40% -30% -20% -10% 0% Percentage change in dFLC/M-Spike from baseline Best Response dFLC M-Spike
Page 21
21 NEXICART-2 (U.S.) Clinical Activity: 95% Complete Responses (CR) – 19/20 Patients Complete response (CR) is FDA Regulatory Endpoint Complete Response Note: Data cut-off as of May 14, 2026. Complete Response according to consensus recommendations in AL amyloidosis (Palladini, et al. 2012. "Consensus guidelines for the conduct and reporting of clinical trials in systemic light-chain amyloidosis." Leukemia 26(11): 2317-2325.) Patients NX2-003, NX2-010, and NX2-011 enrolled on M-Spike. NX2-011 M-spike igg type (longer half-life) NX2-003, NX2-010 M-spike iga type (shorter half-life). Patient NX2-005: Death in CR, unrelated to NXC-201. Patient NX2-013: Withdrawn due to progression. Source: Zanwar S, et al. Treatment patterns for AL amyloidosis after frontline daratumumab, bortezomib, cyclophosphamide, and dexamethasone treatment failures. Leukemia 2024. Subject # NX2-001 NX2-002 NX2-003 NX2-004 NX2-005 NX2-006 NX2-007 NX2-008 NX2-009 NX2-010 NX2-011 NX2-012 NX2-013 NX2-014 NX2-015 NX2-016 NX2-017 NX2-018 NX2-019 NX2-020 Time to response (days) 14 7 15 7 7 7 7 7 7 7 160 7 7 7 7 7 7 7 7 7 Hematologic response CR CR CR CR CR CR CR CR CR CR CR CR Withdrawn CR CR CR CR CR CR CR Existing investigator’s choice therapies 0-10% complete response rate No FDA Drugs approved Presented Dec 7, 2025 at ASH with May 2026 update Days 700100 200 300250 35050 150 400 450 500 550 600 650 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13 P14 P15 P16 P17 P18 P19 P20 P1 NEG 10-5 NEG 10-6 NEG 10-5 NEG 10-5 NEG 10-5 NEG 10-6 NEG 10-6 NEG 10-6 NEG 10-5 NEG 10-5 NEG 10-6 NEG 10-6 NEG 10-5 NEG 10-6 NEG 10-6 NEG 10-6 NEG 10-5 NEG 10-5 POS 10-6 Withdrawn Normal Withdrawn Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal CR CR CR CR CR CR CR CR CR CR CR CR CR CR CR CR CR CR Withdrawn CR MRD at D + 25 Light Chain Status Best Hematologic Response 2 year1 year • Organ responses in 100% (11/11) evaluable (100% , 100% , 100% )
Page 22
22 NEXICART-2 (U.S.) TEAEs Consistent or Improved Compared to Ex-US Dataset **Event unrelated to NXC-201; acute on chronic kidney injury in patient with stage 4 CKD at enrollment ¥ Two patients with pre-existing atrial fibrillation experienced transient arrythmias responsive to beta -blockers Note: Data cut-off as of May 14, 2026. CRS and ICANS reported according to ASTCT Consensus Grading (Lee et al. 2019). Patient NX 2-013 withdrawn on day 90. TEAE = treatment-emergent adverse events • No patient experienced a Grade 5 TEAE across any cohort related to NXC-201 Presented Dec 7, 2025 at ASH with May 2026 update Subject NX2-001 NX2-002 NX2-003 NX2-004 NX2-005 NX2-006 NX2-007 NX2-008 NX2-009 NX2-010 NX2-011 NX2-012 NX2-013 NX2-014 NX2-015 NX2-016 NX2-017 NX2-018 NX2-019 NX2-020 Median (Range) Dose CART Cell Dose (x106) 150 150 150 450 450 450 450 450 450 450 450 450 450 450 450 450 450 450 450 450 - CRS None None Grade 2 Grade 1 Grade 1 Grade 1 Grade 1 Grade 1 Grade 1 Grade 1 Grade 2 Grade 1 None Grade 2 Grade 2 None Grade 1 Grade 1 Grade 1 None 1 (1-2) CRS Onset (days) None None 3 3 1 1 1 1 1 3 2 1 None 1 1 None 1 1 2 None 1 (1-6) CRS Duration (days) None None 2 1 1 1 1 4 1 2 1 5 None 1 2 None 1 1 1 None 1 (1-5) Neurotoxicity None None None None None None None None None None None None None None None None None None None None - Other Neutropenia Grade 3 Grade 3 Grade 3 Grade 4 Grade 4 Grade 2 Grade 4 Grade 4 Grade 4 Grade 2 Grade 4 Grade 4 Grade 4 Grade 4 Grade 3 Grade 3 Grade 3 Grade 3 Grade 4 None 4 (2-4) Febrile Neutropenia None None None None None None None Grade 3 None None None None None None None None None None None None - Anemia Grade 1 Grade 2 Grade 3 Grade 1 Grade 3 Grade 1 Grade 2 Grade 2 Grade 2 Grade 1 Grade 2 Grade 2 Grade 1 Grade 3 Grade 3 Grade 1 Grade 2 Grade 2 Grade 3 Grade 3 2 (1-3) Thrombocyto -penia Grade 1 Grade 1 Grade 1 Grade 1 Grade 3 Grade 2 None Grade 4 Grade 3 Grade 1 Grade 1 Grade 3 Grade 1 Grade 2 Grade 3 Grade 1 Grade 2 Grade 1 Grade 1 None 1 (1-4) Acute kidney failure None None None None Grade 4 acute on chronic kidney Injury (pre-existing stage 4 chronic kidney disease at enrollment) None None None None None None None None None None None None None None None - LFT Abnormalities None None None None None None None Grade 1 None None None Grade 3 None Grade 3 None None Grade 1 None None None - ≥ Grade 3 Infections None None None None Grade 5** None None None None None None None None None None None None None None None - Fatigue None Grade 2 Grade 2 Grade 2 Grade 1 Grade 1 None None None Grade 2 Grade 2 None Grade 2 None Grade 2 Grade 2 None None None None 2 (1-2) ≥ Grade 2 Cardiac Events None None None Grade 2¥ None None None None None Grade 2¥ None None None None None None None None None None -
Page 23
23 Complete Response Rate Improving Over Time Subject # NX2- Time to response (days) 001 14 CR CR CR 002 7 CR CR CR 003 15 CR CR CR 004 7 Pending (already MRD (-)10-5) CR CR 005 7 CR CR CR 006 7 CR CR CR 007 7 Pending (already MRD (-)10-5) CR CR 008 7 CR CR CR 009 7 Pending (already MRD (-)10-5) CR CR 010 7 CR CR CR 011 160 -- Pending (already MRD (-)10-5) CR 012 7 -- Pending (already MRD (-)10-5) CR 013 7 -- -- -- 014 7 -- CR CR 015 7 -- CR CR 016 7 -- Pending (already MRD (-)10-5) CR 017 7 -- CR CR 018 7 -- CR CR 019 7 -- Pending (already MRD (-)10-5) CR 020 7 -- CR CR April 11, 2025 CR RATE: November 13, 2025 95% May 14, 2026 75% Data Cutoff: 70% with May 2026 update
Page 24
24 Study design • Randomized 1:1, multi-site phase 3 study • Arm A: NXC-201 • Arm B: DaraCyBorD Key criteria Outcome measures Inclusion •Newly diagnosed AL Amyloidosis patients Exclusion •Cardiac: Mayo stage 3b, NYHA stage III/IV •Concomitant Multiple Myeloma • Primary endpoint: Complete hematologic response (CR) • Safety NEXICART-3 U.S. Newly Diagnosed AL Amyloidosis Trial Note: Complete Response according to consensus recommendations in AL amyloidosis (Palladini, et al. 2012. "Consensus guidelin es for the conduct and reporting of clinical trials in systemic light -chain amyloidosis." Leukemia 26(11): 2317 -2325.) PHASE 3 RANDOMIZED CONTROLLED TRIAL –INITIATION PLANNED FOR 1H 2027
Page 25
August 2026 Global Leader in relapsed/refractory AL Amyloidosis
Page 26
26 NXC-201 Median CRS Duration (Days) 1 5 4 2 4 3 Median CRS Onset (Days) 0 1 7 4 1 10 Range CRS Duration (Days) 1-7 1-63 1-97 1-9 1-16 NR Source Blood Adv Publication FDA Label FDA Label ASH 2025 ASH 2023 EHA 2026 Source: M. Assayag, et al. Point-of-care CART manufacture and delivery for the treatment of multiple myeloma and AL amyloidosis: the experience of Hadassah Medical Center. European Society for Blood and Marrow Transplantation 49th Annual Meeting. Poster Presentation. April 2023. Nov 2023 KOL discussion; NXC-201 (formerly HBI0101) American Society of Hematology Presentation. Abecma FDA approval label. Carvykti FDA approval label. Anitocabtagene autoleucel (anito-cel) iMMagine-1 pivotal Phase 2 data, ASH 2025. L. Lee, et al. Development of a Phase 1 Study Evaluating the Activity of Modular CAR T for Multiple Myeloma (MCARTY) Targeting BCMA and CD19 for Improved Persistence. ASH 2023. A. Spencer, et al. Successful in vivo CAR-T generation and minimal residual disease (MRD) clearance with KLN-1010 across diverse baseline T cell phenotypes in relapsed/refractory multiple myeloma (RRMM). European Hematology Association (EHA) 2026 Congress. Note: Studies not head-to-head Anito-cel /CARTddBCMA “The biggest challenge … has been applicability of these therapies in amyloidosis when the patients are particularly frail and have organ dysfunction … where the key lies in the safety rather the efficacy in a low-volume disease setting is going to be key … ” – Dr. Susan Bal, MD Assistant Professor, Hematology University of Alabama at Birmingham Others are 2-5x higher NXC-201’s short CRS duration, if proven to be safe and effective, makes it uniquely suitable to treat ALA patients (in whom the #1 source of mortality is heart failure) Cardiovascular stress is the key determinant for ability to treat relapsed/refractory ALA patients • Long CRS duration causes extended cardiovascular stress • Other CARTs have 2-5x longer CRS duration Data in Multiple Myeloma D8 BCMA /AUTO8 Median CRS Duration (Days) NXC-201 Tolerability Drives AL Amyloidosis Leadership ALL BCMA CAR-TS ARE NOT CREATED EQUAL ✓ KLN-1010
Page 27
27 NXC-201: Deepest Responses, In Most Heavily Pretreated Population1 2 NXC-201 Etentamig Linvoseltamab Teclistamab NXC-201: Later Phase … n 20 34 20 52 Phase Phase 2 Phase 1 Phase 2 Retrospective Dosing Frequency 1-Time 24 Months (QW4) Weekly 8W , QW4 40W Monthly … in heavily pre- treated population … Median Prior Lines 4 2 1 2 Prior CD38 monoclonal antibody? 100% 100% 60% 100% Prior ASCT ? 55% 21% ? NA … with independent review committee (IRC) adjudicated responses … Complete Response Rate 95% 100% 80% (16/20) 41% Independent Review Committee (IRC)? Yes(1) No(2) No No … faster, deeper, and more frequent downstream organ responses Cardiac Organ Responses 100% 75% 50% 65% Median Time to Cardiac Response 1.1 Months 2.5 Months NA NA Renal Responses 100% 54% 80% 78% ICANS 0% 0% 5% 0% Infections (>Grade 3) 0% 6% 25% 42% (deaths n=6 [12%]) IVIG Prophylaxis NA 100% NA 83%(3) ✓ Source: Landau H. et al. ASH 2025 with May 2026 update. Kastritis, et al 2026 EHA P1 Dose Escalation of Etentamig .EHA Library. Kastritis E. 06/12/2026; 4206763; S209. Carpinteiro A, et al. Teclistamab in relapsed/refractory light chain amyloidosis: A retrospective multicenter study by the German Society for Amyloid Diseases. Hemasphere. 2026 Jun 16;10(6):e70389. doi: 10.1002/hem3.70389. PMID: 42311430; PMCID: PMC13270341.; Wechalekar et al EHA library. Initial efficacy and safety data from the phase 1/2 linker-al2 study of linvoseltamab 2026. Note: Q4W: every 4 weeks. Linvoseltamab deaths n=2. NXC-201 organ response denominator reflects patients eligible for organ response; etentamig and teclistamab organ response denominator reflects patients with involved organ; (1) One patient evaluated by site; (2) AbbVie ASH 2025 abstract. (3) Substitution with intravenous or subcutaneous immunoglobulins (IRT). Immix infection rate reflects infections deemed related to treatment. X XX
Page 28
28 ~$1bn $150 $87 $479 $242 $544 $72 $0 $200 $400 $600 $800 $1,000 2021 2022 2023 2024 Launch Year 2025 2026 2027 Market Reference: Commercialization Cost Trend Over Time COGS + SG&A(1) in Launch Year New launches from small caps in $72mm - $112mm range Gilead highlighted cell therapy business was close to break-even in 2024, with sales ~$1.5bn (2) (4) Or Before Zynteglo 2022 Carvykti 2022 $1,200 Yescarta 2017 $528(3) Casgevy 2023 Elevidys 2023 Roctavian 2023 $50 Omisirge 2023 Tecelra 2024 Zevaskyn 2025 AMT-130 $112 $87 IMA203 Note: $ in millions; (1) Calculated as COGS and SG&A in launch year; (2) Represents COGS of Carvykti shared between J&J and Legend (50/50 profit share) and Legend SG&A multiplied by 2 to more closely reflect total costs; (3) Represents total costs for Casgevy between CRISPR and Vertex; (4) Represents total costs for Roctavian, disclosed as R&D + SG&A
Page 29
29 “An early and deep hematologic response has been found to lead to significantly prolonged survival” – Vaishali Sanchorawala, M.D. Professor, Hematology and Oncology Director, Amyloidosis Center at Boston University School of Medicine Director, Stem Cell Transplantation at Boston Medical center doi: 10.1056/NEJMra2304088 NEXICART-1 (Israel): Normalization of Toxic Free Light Chains 30 Days after Dosing BACKGROUND: IMMIX LICENSED-IN NXC-201 BASED ON EX-U.S. DATA SHOWING PLASMA CELL ELIMINATION (MENTIONED IN NEJM) Note: Data cut-off as of December 9, 2024. As presented in Journal of Clinical Oncology. Patient 13 included in 75% complete res ponse (CR) rate, but not included in graph above. Source: E Lebel et al. Efficacy and Safety of Anti-BCMA Chimeric Antigen Receptor T -Cell (CART) for the Treatment of Relapsed and Refractory AL Amyloidosis. Presentation. ASH 2024. Zanwar S, et al. Treatment patterns for AL amyloidosis after frontline daratumumab, bortezomib, cyclophosphamide, and dexamethasone treatment failures. Leukemia 2024. (Each line represents 1 patient clinical data readout after NXC-201) Normal dFLC zone NXC-201 Normalizing Current investigator’s choice therapies 0-10% complete response rate No FDA Drugs approved NXC-201 75% complete response rate (NEXICART-1)
Page 30
30 Up to 91% (=18+64+9) of AL Amyloidosis Patients Receiving Frontline Dara-Cy-Bor-D Require 2nd Line Therapy within 12 Months based on peer studies Note: Example 100 newly diagnosed patient scenario based on sources listed below. Dara-Cy-Bor-D: daratumumab, cyclophosphamide, bortezomib, dexamethasone Source: 1) Kastritis E, et al. ASH 2024 2) Bellofiore C, et al. A real-life study of daratumumab combinations in newly diagnosed patients with light chain (AL) amyloidosis. Hematol Oncol. 2024 (1) (2) (2) 100 newly diagnosed 82 reach 6 cycles(1) 18 don’t reach 6 cycles 18 (22%) reach CR(2) 64 (78%) don’t reach CR 9 (50%) relapse <12M(2)
Page 31
August 2026 Global Leader in relapsed/refractory AL Amyloidosis