What MaxCyte does
MaxCyte Inc (LON:MXCT) is developing an experimental targeted cancer treatment but also licenses out the technology to larger biotechs and pharma companies, including the international giant Gilead Sciences Inc (NASDAQ:GILD), to aid their discovery process.
MaxCyte’s CARMA platform is being used to develop some of the first drug candidates that use the company’s own immune system to fight solid tumours.
Its lead candidate, MCY-M11 is what’s known as a chimeric antigen receptor, CAR therapy, which gives T-cells the new ability to target a specific protein.
T-cells are part of the immune system and circulate around our bodies, scanning for cellular abnormalities and infections.
How it is doing
MaxCyte recently signed two clinical and commercial licensing deals with APEIRON Biologics and Caribou Biosciences.
The two firms will be able to use the AIM-listed group’s technology and ExPERT platform to develop their own therapy programmes, while MaxCyte will receive undisclosed milestones as well as sales-based payments.
It also raised £25mln in May as it started preparing for a NASDAQ listing in the US, although it is also committed to its AIM quote in London.
What the boss says: Doug Doerfler, chief executive
"We are proud to support APEIRON in the development of a siRNA-based treatment that could help patients facing cancers with various forms of tumors. This agreement represents an important achievement for MaxCyte, and highlights the value of our next-generation technology platform to companies across the globe seeking to unlock the potential of their engineered cell therapy programs."
- Spinout of CARMA Cell Therapy arm via a NASDAQ-listing
- Underlying revenue supported by £25mln equity raise
- Expansion strategy
What the analyst says
“The deal is the latest in a series of clinical and commercial collaborations in cell and gene therapy and is also one of the first in the siRNA field for MXCT," said Emma Ulker, analyst at Proactive, regarding the agreement with Apeiron Biologics.
"It highlights MXCT’s expertise and the value of its Flow Electroporation technology, which is rapidly being adopted as the gold standard in non-viral cell and gene engineering and enhances the likelihood of milestone payment releases. MXCT has over 100 cell therapy licences with partners, including 11 at the clinical stage, with commercial rights with aggregate milestone payments worth over US$800mln just starting to be released."