MaxCyte, Inc. Signing of Strategic Platform License (1712S)
July 12 2022 - 8:01AM
UK Regulatory
TIDMMXCT TIDMTTM
RNS Number : 1712S
MaxCyte, Inc.
12 July 2022
MaxCyte Signs Strategic Platform License with LG Chem to Advance
its Allogeneic CAR-T Programs
LG Chem to use MaxCyte's Flow Electroporation(R) technology and
ExPERT(TM) platform to accelerate the development of its T-cell
therapy candidates for solid tumors
GAITHERSBURG, MD, July 12, 2022 - 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(R) technology and ExPERT(TM) 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(TM) 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(TM) 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(R) platform, which facilitates complex engineering
of a wide variety of cells. Our ExPERT(TM) 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(TM), STx(TM) and
GTx(TM); 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 Adviser
Gilmartin Group +1 415-937-5400
David Deuchler, CFA ir@maxcyte.com
US Media Relations
Valerie Enes +1 408-497-8568
Seismic valerie@teamseismic.com
Nominated Adviser and Joint Corporate
Broker
Panmure Gordon
Emma Earl / Freddy Crossley
Corporate Broking
Rupert Dearden +44 (0)20 7886 2500
UK IR Adviser
Consilium Strategic Communications +44 (0)203 709 5700
Mary-Jane Elliott maxcyte@consilium-comms.com
Chris Welsh
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