TIDMMXCT TIDMTTM
RNS Number : 2942H
MaxCyte, Inc.
24 March 2020
FOR IMMEDIATE RELEASE
MaxCyte and Allogene Therapeutics Sign Clinical and Commercial
License Agreement
-- Agreement enables Allogene, a pioneer in the development of
AlloCAR T(TM) therapies for cancer, to utilize MaxCyte's ExPERT(TM)
platform in target candidates
GAITHERSBURG, MD, and SOUTH SAN FRANCISCO, CA, 24 March 2020 -
MaxCyte, Inc., (LSE: MXCT), a global cell-based therapies and life
sciences company, and Allogene Therapeutics, Inc. (Nasdaq: ALLO), a
clinical-stage biotechnology company pioneering the development of
allogeneic CAR T (AlloCAR T(TM)) therapies for cancer, today
announced a clinical and commercial license agreement. Under the
terms of the agreement, Allogene gains rights to use MaxCyte's Flow
Electroporation(R) technology and ExPERT(TM) platform to develop
and advance its AlloCAR T(TM) candidates through to
commercialization. In return, MaxCyte will receive undisclosed
development, approval and commercial milestones in addition to
other licensing fees. The first two Allogene investigational
therapies intended to utilize this validated gene editing and
advanced proprietary cell manufacturing technology are directed at
CD19 and BCMA targets.
MaxCyte's ExPERT instrument family represents the next
generation of leading, clinically validated, electroporation
technology for complex and scalable cellular engineering. By
delivering high transfection efficiency with enhanced
functionality, the ExPERT platform delivers the high-end
performance essential to enable the next wave of biological and
cellular therapeutics. Allogene intends to deploy the MaxCyte
technology to effect the gene editing steps during the production
process. The closed system and high efficiency make it an ideal
addition for GMP operations.
"MaxCyte's ExPERT platform has become the industry standard in
electroporation technology and allows us to increase efficiency and
improve yield, which is a critical component to the value
proposition of our AlloCAR T(TM) therapies," said Alison Moore,
Ph.D., Chief Technical Officer of Allogene.
Doug Doerfler, President & CEO of MaxCyte, said: "We're
honored to partner with Allogene to help unlock the full potential
of its next-generation allogeneic CAR T therapies through
utilization of our Flow Electroporation(R) technology and
ExPERT(TM) platform."
About MaxCyte
MaxCyte is a clinical-stage global cell-based therapies and life
sciences company applying its proprietary cell engineering platform
to deliver the advances of cell-based medicine to patients with
high unmet medical needs. Through its life sciences business,
MaxCyte biopharmaceutical partners leverage the Company's Flow
Electroporation(R) Technology to advance the development of
innovative, transformative medicines, particularly in cell therapy.
MaxCyte has placed its technology worldwide, including with all of
the top ten global biopharmaceutical companies. The Company now has
more than 100 partnered programme licenses in cell therapy with
more than 70 licensed for clinical use. The Company has now entered
into nine clinical/commercial license partnerships with leading
cell therapy developers and the potential pre-commercial milestones
from these relationships now significantly exceeds $650 million.
With its robust delivery technology platform, MaxCyte helps its
partners to unlock the full potential of their therapeutic
products. MaxCyte is also developing novel CARMA therapies, with
its first drug candidate in a Phase I clinical trial. CARMA is
MaxCyte's mRNA-based proprietary therapeutic platform for
autologous cell therapy for the treatment of solid cancers. MaxCyte
has established CARMA Cell Therapies as a wholly owned subsidiary
to facilitate independent investment and new partnerships to
advance the CARMA platform. For more information, visit
www.maxcyte.com .
About Allogene Therapeutics
Allogene Therapeutics, with headquarters in South San Francisco,
is a clinical-stage biotechnology company pioneering the
development of allogeneic chimeric antigen receptor T cell (AlloCAR
T(TM)) therapies for cancer. Led by a world-class management team
with significant experience in cell therapy, Allogene is developing
a pipeline of "off-the-shelf" CAR T cell therapy candidates with
the goal of delivering readily available cell therapy on-demand,
more reliably, and at greater scale to more patients. For more
information, please visit www.allogene.com, and follow @AllogeneTx
on Twitter and LinkedIn.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements for
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The press release may, in some
cases, use terms such as "predicts," "believes," "potential,"
"proposed," "continue," "estimates," "anticipates," "expects,"
"plans," "intends," "may, " "could," "might," "will," "should" or
other words that convey uncertainty of future events or outcomes to
identify these forward-looking statements. Forward-looking
statements include statements regarding intentions, beliefs,
projections, outlook, analyses or current expectations concerning,
among other things: the ability of the MaxCyte technology and
platform to increase efficiency and improve yield of AlloCAR T(TM)
therapies, the ability to manufacture AlloCAR T(TM) therapies, the
ability to progress AlloCAR T therapies through clinical trials and
obtain regulatory approval, and the potential benefits of AlloCAR
T(TM) therapy. Various factors may cause differences between
Allogene's expectations and actual results as discussed in greater
detail in Allogene's filings with the Securities and Exchange
Commission (SEC), including without limitation in its Form 10-K for
the year ended December 31, 2019. Any forward-looking statements
that are made in this press release speak only as of the date of
this press release. Allogene assumes no obligation to update the
forward-looking statements whether as a result of new information,
future events or otherwise, after the date of this press
release.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 (MAR).
AlloCAR T Ô is a trademark of Allogene Therapeutics, Inc.
MaxCyte Contacts:
MaxCyte Inc.
Doug Doerfler, Chief Executive Officer
Ron Holtz, Chief Financial Officer +1 301 944 1660
Nominated Adviser and Joint Corporate
Broker
Panmure Gordon
Emma Earl
Freddy Crossley
Corporate Broking
James Stearns +44 (0)20 7886 2500
Joint Corporate Broker
Numis Securities Limited
James Black
Duncan Monteith +44 (0)20 7260 1000
Financial PR Adviser
Consilium Strategic Communications +44 (0)203 709 5700
Mary-Jane Elliott maxcyte@consilium-com
Chris Welsh
Sukaina Virji
--------------------------------------------------------------
Allogene Media/Investor Contact:
Christine Cassiano
Chief Communications Officer
(714) 552-0326
Christine.Cassiano@allogene.com
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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