MaxCyte, Inc. Trading Update (8749D)
July 12 2016 - 2:00AM
UK Regulatory
TIDMMXCT
RNS Number : 8749D
MaxCyte, Inc.
12 July 2016
MaxCyte, Inc.
("MaxCyte" or the "Company")
Trading Update
Maryland, USA - 12 July 2016: MaxCyte (LSE: MXCT), the developer
and supplier of cell engineering technology to biotechnology and
pharmaceutical firms engaged in cell therapy, drug discovery and
development, biomanufacturing, gene editing and immuno-oncology,
provides its first trading update since joining the AIM market for
the six months ended 30 June 2016. The Company is pleased to report
progress in line with its expectations for the full year. Revenues
for the first half of 2016 were not less than $5.4 million, an
increase of over 30 percent over first half 2015 revenues of $4.2
million.
The Company has continued to expand its customer base in Cell
Therapy amongst leading pharmaceutical and biotechnology companies,
and in the Drug Discovery market, where MaxCyte's customers include
nine of the top ten global biopharmaceutical companies by
revenue.
Development of MaxCyte's CARMA platform and its pipeline of
next-generation cell therapies, including its strategic research
collaboration with the Johns Hopkins Kimmel Cancer Center, are
successfully advancing according to the Company's plans. In
addition, the Company continues to enable the most advanced
preclinical and clinical programs in cell-based immune-oncology and
gene editing through its licensed programs with Cell Therapy
customers.
Commenting on MaxCyte's maiden trading update, Doug Doerfler,
Chief Executive Officer, said: "We have continued to build strong
momentum across the markets we serve during the first half of 2016
and have made great progress across all areas of our business since
launching our successful IPO on AIM in March this year, with over
30 percent growth versus the same period last year. We continue to
build significant capabilities in our infrastructure and partnering
efforts to further drive momentum. In addition, further
pre-clinical studies, conducted under the strategic research
collaborations within our CARMA programs, are demonstrating the
platform's potential for safety, anti-tumour activity and overall
survival benefits. With consistently increasing visibility of
revenues, we are trading in line with our expectations for the full
year. Both the CARMA and partnered cell therapy programs are
progressing well. We look forward to the future with great
confidence."
MaxCyte will announce its interim results for the half year
ended 30 June 2016 before the end of September 2016.
For further information, please contact:
MaxCyte +1 301 944 1660
Doug Doerfler, Chief Executive
Officer
Ron Holtz, Chief Financial
Officer
Nominated Adviser and Broker
Panmure Gordon
Freddy Crossley (Corporate
Finance)
Fabien Holler
Duncan Monteith
Tom Salvesen (Corporate Broking) +44 (0) 20 7886 2500
Financial PR Adviser +44 (0)203 709 5700
Consilium Strategic Communications maxcyte@consilium-comms.com
Mary-Jane Elliott
Chris Welsh
Lindsey Neville
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
About MaxCyte
MaxCyte is an established and revenue generating US-based
developer and supplier of cell engineering technology to
biotechnology and pharmaceutical firms engaged in cell therapy,
drug discovery and development, biomanufacturing, gene editing and
immuno-oncology, markets which the Directors estimate to be, in
aggregate, in excess of $35 billion in 2015. The Company's patented
flow electroporation technology enables its products to deliver
fast, reliable and scalable cell engineering to drive the research
and clinical development of a new generation of cell-based
medicines.
MaxCyte's high performance platform allows transfection with any
molecule or multiple molecules and is compatible with nearly all
cell types, including hard-to-transfect human primary cells. It
also provides a high degree of consistency and minimal cell
disturbance, thereby facilitating rapid, large scale, commercial
and clinical grade cell engineering in a non-viral system and with
low toxicity concerns. The Company's cell engineering technology
platform is CE-marked and FDA-accredited, providing MaxCyte's
customers with an established regulatory path.
MaxCyte is developing CARMA, its proprietary platform in
immuno-oncology, to deliver a validated non-viral approach to CAR
therapies in a number of cancer indications, including solid tumors
where existing CAR-T approaches face significant challenges.
For more information visit http://www.maxcyte.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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