MaxCyte, Inc. New Executive Vice President and Trial Update (4058X)
19 December 2019 - 6:00PM
UK Regulatory
TIDMMXCT TIDMTTM
RNS Number : 4058X
MaxCyte, Inc.
19 December 2019
MaxCyte Appoints New Executive Vice President,
Business Development for CARMA(TM) Cellular Therapies and Trial
Update
- Shruti Abbato will lead development of new partnerships for
the Company's CARMA platform programmes
- Phase I trial of lead CARMA candidate MCY-M11 remains on-track
with the dosing of the third cohort of patients underway and no
dose-limiting toxicities or related serious adverse events
observed
Gaithersburg, Maryland - DECEMBER 19, 2019: MaxCyte (LSE: MXCT,
MXCS), the global clinical-stage cell-based therapies and life
sciences company, announced today that Shruti Abbato has joined the
Company as Executive Vice President, Business Development for CARMA
Cellular Therapies. Ms. Abbato will lead development of new
partnerships for the Company's CARMA platform programmes.
MaxCyte is currently investigating MCY-M11, its wholly-owned,
non-viral mRNA-based cell therapy candidate from its CARMA platform
and commenced dosing in the third cohort of a Phase I
dose-escalation trial in October 2019. The mesothelin-targeting
chimeric antigen receptor (CAR) therapy completed dosing of the
second cohort of patients with relapsed/refractory ovarian cancer
and peritoneal mesothelioma, with no dose-limited toxicities or
related serious adverse events observed. A fourth dosing cohort is
expected to commence in Q1 2020 and the trial remains on track to
report preliminary clinical results by mid 2020.
Before joining MaxCyte, Ms. Abbato served as Vice President of
Business Development at Celdara Medical, where she was responsible
for all out-licensing and exit-related transactions and product
planning activities. Previously, Ms. Abbato was Principal and Owner
of Perspicere, providing business development, strategy, and
planning services to biotechnology companies. Prior, she was
responsible for search and evaluation, in- and out-licensing
transactions, merger and acquisition, and spin-out activities at
Human Genome Sciences for 12 years. Ms. Abbato holds an MBA from
the University of Pittsburgh and a BS in Chemical Engineering and
Biochemistry from the University of Maryland, College Park.
"We welcome Shruti to MaxCyte and feel fortunate to have her
leading our CARMA business development activities. We are moving
the MCY-M11 program successfully through the third dose cohort of
our Phase I clinical trial and, to date, treatment with our lead
clinical candidate has been well tolerated. No dose-limiting
toxicities or related serious adverse events have been observed. In
addition, we have further proven our rapid one-day manufacturing
process," said MaxCyte President & CEO Doug Doerfler. "Shruti's
extensive experience will be an invaluable asset to the eventual
CARMA company as we seek investors and new partnerships for our
CARMA platform to help advance the platform and the development of
new drug candidates."
CARMA, MaxCyte's clinical-stage, non-viral, mRNA-based cell
therapy platform, allows for the transfection of mRNA into cells
and provides a simple, rapid-to-manufacture, dose-controllable
product. CARMA requires less than one day for manufacture therapies
for patients, where existing CAR-T therapies require one to two
weeks or more to manufacture.
"I am very pleased to join the innovative team at MaxCyte and
look forward to helping to build and grow MaxCyte's CARMA cell
therapy business by leading the strategic planning and execution of
all business development activities related to the CARMA-based
platform," said Ms. Abbato.
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. MaxCyte is developing novel CARMA
therapies for its own pipeline, 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. In addition, through its life sciences business,
MaxCyte leverages its Flow Electroporation Technology to enable its
biopharmaceutical partners to advance the development of innovative
medicines, particularly in cell therapy. MaxCyte has placed its
flow electroporation instruments worldwide, including with all of
the top ten global biopharmaceutical companies. The Company now has
more than 80 partnered programme licenses in cell therapy with more
than 45 licensed for clinical use. With its robust delivery
technology platform, MaxCyte helps its partners to unlock the full
potential of their products. For more information, visit
www.maxcyte.com.
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
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END
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