MaxCyte, Inc. Trading Update (6675U)
16 July 2018 - 4:00PM
UK Regulatory
TIDMMXCT TIDMMXCR
RNS Number : 6675U
MaxCyte, Inc.
16 July 2018
MaxCyte, Inc.
("MaxCyte" or the "Company")
Trading Update
Gaithersburg, Maryland - 16 July 2018: MaxCyte (LSE: MXCT,
MXCR), the global cell-based medicines and life sciences company,
provides an update on trading for the six months ended 30 June
2018.
Financial - revenue growth and trading in line for the full
year
Revenues for the first half of 2018 were $6.9 million, up
approximately 11.6% (H1 2017: $6.2 million) and up 14.7% before the
inclusion of commercial licence upfront fees. MaxCyte's Board
anticipates continued progress for the remainder of the 2018
financial year and the Company is trading in line with
expectations.
Cell therapeutics - strong progress and expansion
MaxCyte is partnered with commercial and academic cell therapy
developers and now has more than 55 licensed programmes covering an
increasingly diverse range of fields, including immuno-oncology,
gene editing and regenerative medicine. MaxCyte has increased the
number of licences to partners covering clinical-stage programmes
to more than 25 (up approximately 60% from the reported more than
15 programmes at the same time last year). This is a significant
acceleration of the number of partners advancing towards
commercialisation-stage with the goal of providing new therapies to
individuals facing diseases such as triple-negative breast cancer,
Hodgkins lymphoma, paediatric leukaemia and other blood cancers,
HIV and sickle cell disease.
CARMA (chimeric antigen receptor "CAR" therapy) programme -
focused and on track with US study
The Company remains focused on advancing its next-generation CAR
therapy programme, CARMA, where the Board believes there is a very
significant opportunity for MaxCyte's proprietary technology to
help overcome some of the main challenges presented by viral-based
CAR therapies. The Company announced today that it has received an
Investigational New Drug ("IND") clearance from the US Food and
Drug Administration ("FDA") to begin a clinical study in the United
States with its first wholly-owned lead CARMA candidate, MCY-M11,
and remains on track to commence dosing in a Phase I clinical trial
in H2 2018.
Commenting on MaxCyte's update, Doug Doerfler, Chief Executive
Officer, said: "The Company continues to grow and gain momentum and
we are in a strong position across the business. We've made
important progress with CARMA, advancing MCY-M11 to FDA clearance
of the IND, and are on course to dose patients in 2018 in our
US-based Phase I clinical trial. We strengthened our team with the
addition of Dr Claudio Dansky Ullmann as our chief medical officer,
overseeing all of our clinical development efforts. In addition, we
have continued to make significant progress in bolstering our core
business, particularly with regard to expanding our sales/marketing
infrastructure and applications data for use of our products. This
continues to be a very exciting time for the Company, our partners
and patients as we bring a new generation of CAR-based cancer
treatments into the clinic for the first time and support the
clinical and commercial advancement of our partners' therapeutics.
We look forward to the future with great confidence."
MaxCyte expects to announce its interim results for the half
year ended 30 June 2018 during the week of 24 September 2018.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
About MaxCyte
MaxCyte is a global cell-based medicines and life sciences
company applying its patented cell engineering technology to help
patients with high unmet medical needs in a broad range of
conditions. MaxCyte is developing novel CARMA therapies for its own
pipeline. CARMA is MaxCyte's mRNA-based proprietary platform for
autologous cell therapy. In addition, through its core business,
the Company leverages its Flow Electroporation(R) Technology to
enable its partners across the biopharmaceutical industry to
advance the development of innovative medicines, particularly in
cell therapy, including gene editing and immuno-oncology. The
Company has placed its cutting-edge flow electroporation
instruments worldwide, including with nine of the top ten global
biopharmaceutical companies, and has more than 55 partnered
programme licences in cell therapy including more than 25 licensed
for clinical use. With its robust delivery technology, MaxCyte
helps its partners to unlock the full potential of their
products.
For more information, visit www.maxcyte.com.
###
For further information, please contact:
MaxCyte Inc.
Doug Doerfler, Chief Executive Officer
Ron Holtz, Chief Financial Officer +1 301 944 1660
Nominated Adviser and Broker
Panmure Gordon
Emma Earl
Freddy Crossley
Ryan McCarthy
Corporate Broking
James Stearns +44 (0)20 7886 2500
Financial PR Adviser
Consilium Strategic Communications +44 (0)203 709 5700
Mary-Jane Elliott maxcyte@consilium-comms.com
Chris Welsh
Sukaina Virji
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END
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