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MaxCyte, Inc. reports news on its cell-engineering technology business for biotechnology and pharmaceutical customers developing next-generation cell therapeutics. Company updates center on Flow Electroporation technology, ExPERT instruments, SeQure gene editing assessment services, and Strategic Platform License relationships that can generate product, license, research, clinical and program-related revenue.
Recurring developments include quarterly and annual financial results, revenue guidance, installed instrument activity, licensed customer programs, product launches such as ExPERT DTx for high-throughput electroporation, and corporate governance matters including executive appointments and equity compensation grants.
MaxCyte has signed a strategic platform license agreement with Legend Biotech to accelerate the discovery and development of cell therapies. Under this non-exclusive worldwide license, Legend Biotech will use MaxCyte’s Flow Electroporation® technology and ExPERT™ platform for various cell types, including T cells and NK cells. MaxCyte will receive annual licensing fees, clinical development milestones, and royalties on net sales of the licensed products. This marks MaxCyte’s 28th clinical/commercial partnership, emphasizing its role in advancing cell-based therapeutics.
The partnership aims to enhance Legend Biotech’s non-viral engineered therapeutic pipeline, leveraging MaxCyte’s expertise in scalable cell engineering and regulatory support. The ExPERT™ platform provides high transfection efficiency and seamless scalability, essential for developing innovative cell therapies. Both companies aim to transform the treatment landscape and meet expanding clinical and commercial needs.
MaxCyte, Inc. reported a total revenue of $11.3 million in the first quarter of 2024, marking a 32% increase year-over-year. Core business revenue grew by 5% to $8.2 million. The company signed four Strategic Platform License (SPL) clients year-to-date, with a total of 27 partners. Cash, cash equivalents, and investments stood at $202.5 million as of March 31, 2024. MaxCyte affirmed its 2024 revenue guidance, expecting flat to 5% growth in core business revenue and approximately $5 million in SPL Program-related revenue.
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