MaxCyte Signs Strategic Platform License with LG Chem to Advance its Allogeneic CAR-T Programs
July 12 2022 - 8:00AM
MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT), a leading commercial
cell-engineering company focused on providing enabling platform
technologies to advance innovative cell-based research as well as
next-generation cell therapeutic discovery, development and
commercialization, today announces the signing of a strategic
platform license (SPL) with LG Chem Ltd., a globally diversified
chemical company established in petrochemical, advanced materials
and bio-technology, aiming to create new value for its customers
based on science.
Under the terms of the agreement, LG Chem
obtains non-exclusive clinical and commercial rights to use
MaxCyte’s Flow Electroporation® technology and ExPERT™ platform. In
return, MaxCyte is entitled to receive platform licensing fees and
program-related revenue.
Further accelerating its efforts for clinical
development of global new drugs, LG Chem is strengthening its
anti-cancer sector through advanced construction of cell drug
platform technologies. LR19023, the next-generation CAR-T cell
treatment, is currently in the pre-clinical stage and under
development as a solid cancer therapeutic.
Doug Doerfler, President and CEO of
MaxCyte, said: “We are thrilled to partner with the global
multinational company LG Chem to support their CAR T programs for
solid tumors. This partnership represents our first SPL with a
South Korean company and broadens our reach into Asia to provide
advanced technologies that support the clinical and commercial
development of engineered cell therapies, and ultimately change the
lives of patients with cancer.”
MaxCyte’s ExPERT™ instrument portfolio is the
next generation of leading, clinically-validated, electroporation
technology for complex and scalable cell engineering. By delivering
high transfection efficiency, seamless scalability and enhanced
functionality, the ExPERT™ platform delivers the high-end
performance essential to enabling the next wave of biological and
cellular therapeutics. LG CHEM is MaxCyte’s first SPL in Asia and
17th overall, which generate pre-commercial milestone revenue and
the vast majority of which include post-commercial revenue.
About MaxCyte
MaxCyte is a leading commercial cell-engineering
company focused on providing enabling platform technologies to
advance innovative cell-based research as well as next-generation
cell therapeutic discovery, development and commercialization. Over
the past 20 years, we have developed and commercialized our
proprietary Flow Electroporation® platform, which facilitates
complex engineering of a wide variety of cells. Our ExPERT™
platform, which is based on our Flow Electroporation technology,
has been designed to support the rapidly expanding cell therapy
market and can be utilized across the continuum of the high-growth
cell therapy sector, from discovery and development through
commercialization of next-generation, cell-based medicines. The
ExPERT family of products includes: three instruments, the ATx™,
STx™ and GTx™; a portfolio of proprietary related processing
assemblies or disposables; and software protocols, all supported by
a robust worldwide intellectual property portfolio.
MaxCyte Contacts:
US IR
AdviserGilmartin GroupDavid Deuchler,
CFA |
+1 415-937-5400
ir@maxcyte.com |
|
|
US Media
Relations Valerie Enes Seismic |
+1
408-497-8568 valerie@teamseismic.com |
|
|
Nominated Adviser and
Joint Corporate BrokerPanmure GordonEmma Earl / Freddy
CrossleyCorporate BrokingRupert Dearden |
+44 (0)20 7886 2500 |
|
|
UK IR
AdviserConsilium Strategic
CommunicationsMary-Jane ElliottChris Welsh |
+44 (0)203 709
5700maxcyte@consilium-comms.com |
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