Proactiveinvestors Australia MaxCyte https://www.proactiveinvestors.com.au Proactiveinvestors Australia MaxCyte RSS feed en Wed, 19 Jun 2019 23:35:41 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Annual Report ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190619070004_14115864/ Wed, 19 Jun 2019 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190619070004_14115864/ <![CDATA[RNS press release - Appointment of Joint Corporate Broker ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190612070006_14107299/ Wed, 12 Jun 2019 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190612070006_14107299/ <![CDATA[RNS press release - Save the Date: Capital Markets Day ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190529070007_14089963/ Wed, 29 May 2019 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190529070007_14089963/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190508164128_14067093/ Thu, 09 May 2019 01:41:28 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190508164128_14067093/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190508163649_14067084/ Thu, 09 May 2019 01:36:49 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190508163649_14067084/ <![CDATA[RNS press release - Phase I Clinical Trial of MCY-M11 Progressed ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190508070004_14065651/ Wed, 08 May 2019 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190508070004_14065651/ <![CDATA[RNS press release - ASGCT Presentation on First CARMA Drug Candidate ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190501070015_14058480/ Wed, 01 May 2019 16:00:15 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190501070015_14058480/ <![CDATA[RNS press release - Final Results for Year Ended 31 December 2018 ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190424070004_14049224/ Wed, 24 Apr 2019 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190424070004_14049224/ <![CDATA[RNS press release - Launch of ExPERTT Instrument Family ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190408070007_14031646/ Mon, 08 Apr 2019 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190408070007_14031646/ <![CDATA[RNS press release - Notice of Full Year Results ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190326070022_14015201/ Tue, 26 Mar 2019 18:00:22 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190326070022_14015201/ <![CDATA[RNS press release - Director Dealings ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190319170523_14008049/ Wed, 20 Mar 2019 04:05:23 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190319170523_14008049/ <![CDATA[RNS press release - Grant of Options ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190305070010_13989807/ Tue, 05 Mar 2019 18:00:10 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190305070010_13989807/ <![CDATA[RNS press release - Clinical & Commercial Agreement with Kite ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190301070007_13986360/ Fri, 01 Mar 2019 18:00:07 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190301070007_13986360/ <![CDATA[RNS press release - Result of Special Meeting and Issue of Equity ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190226173236_13982612/ Wed, 27 Feb 2019 04:32:36 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190226173236_13982612/ <![CDATA[RNS press release - Results of Placing ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190205163243_13959287/ Wed, 06 Feb 2019 03:32:43 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190205163243_13959287/ <![CDATA[RNS press release - Proposed Placing to raise a minimum of £10 million ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190205070007_13957922/ Tue, 05 Feb 2019 18:00:07 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190205070007_13957922/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190115070005_13934357/ Tue, 15 Jan 2019 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20190115070005_13934357/ <![CDATA[RNS press release - Change of Auditor ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181219070004_13908852/ Wed, 19 Dec 2018 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181219070004_13908852/ <![CDATA[RNS press release - Director Dealings ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181217180651_13906896/ Tue, 18 Dec 2018 05:06:51 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181217180651_13906896/ <![CDATA[RNS press release - Consolidation of Trading Lines ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181121070005_13874320/ Wed, 21 Nov 2018 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181121070005_13874320/ <![CDATA[RNS press release - Block Admission Six Monthly Return/TVR ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181120070017_13872738/ Tue, 20 Nov 2018 18:00:17 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181120070017_13872738/ <![CDATA[RNS press release - Webinar: non-viral cell engineering ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181116070004_13869325/ Fri, 16 Nov 2018 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181116070004_13869325/ <![CDATA[RNS press release - Clinical and Commercial License Agreement ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181114070003_13865858/ Wed, 14 Nov 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181114070003_13865858/ <![CDATA[RNS press release - MaxCyte Announces Research Agreement with Kite ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181112070005_13862552/ Mon, 12 Nov 2018 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181112070005_13862552/ <![CDATA[RNS press release - Expansion of CRISPR Commercial License Agreement ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181109070002_13860960/ Fri, 09 Nov 2018 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181109070002_13860960/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181031162509_13850111/ Thu, 01 Nov 2018 03:25:09 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181031162509_13850111/ <![CDATA[RNS press release - Dosing Begins in First Clinical Trial of MCY-M11 ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181010070005_13822545/ Wed, 10 Oct 2018 17:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181010070005_13822545/ <![CDATA[RNS press release - Notice of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181008070006_13819274/ Mon, 08 Oct 2018 17:00:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20181008070006_13819274/ <![CDATA[RNS press release - Results for the Half Year ended 30 June 2018 ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180924070010_13801047/ Mon, 24 Sep 2018 16:00:10 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180924070010_13801047/ <![CDATA[RNS press release - Grant of Options ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180910070007_13783864/ Mon, 10 Sep 2018 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180910070007_13783864/ <![CDATA[RNS press release - Notice of Half Year Results ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180903070009_13775651/ Mon, 03 Sep 2018 16:00:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180903070009_13775651/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180726173345_13733293/ Fri, 27 Jul 2018 02:33:45 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180726173345_13733293/ <![CDATA[RNS press release - FDA IND Clearance for First Clinical Programme ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180716070005_13718192/ Mon, 16 Jul 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180716070005_13718192/ <![CDATA[News - MaxCyte gears up for first clinical trial after gaining regulatory green light ]]> https://www.proactiveinvestors.com.au/companies/news/200817/maxcyte-gears-up-for-first-clinical-trial-after-gaining-regulatory-green-light-200817.html MaxCyte Inc (LON:MXCT) shares rose on Monday after the firm said it had received the green light to embark on its first-ever clinical trial as it told investors the commercial arm of the business was trading in line with forecasts.

The US Food & Drug Administration has given the company investigational new drug clearance for MCY-M11, a chimeric antigen receptor that targets solid tumours.

READ: MaxCyte hails US National Institutes of Health tie-up to find treatment for sickle cell disease

The phase I clinical study will evaluate the safety of the potential treatment in people with relapsed, or difficult-to-treat ovarian cancer and peritoneal mesothelioma (a form of cancer that affects the abdomen).

MaxCyte used its CARMA platform to develop the cancer treatment. The technology incites the body’s own immune system to tackle the killer disease, which is a hot area at the moment.

New and innovative technology

What’s new and innovative, even for this very new and innovative strand of research, is that CARMA is being designed to grapple with solid tumours.

The breakthroughs in this field, such as CAR (chimeric antigen receptor) T-cell immuno-therapies, fight blood-borne illness, and yet 90% of cancers are solid tumours.

Chief executive Doug Doerfler said the regulatory sign-off marked an “important milestone” for the business.

“We are excited to advance MCY-M11, our first therapeutic candidate in solid tumours into the clinic and we hope that the upcoming study will serve as validation of our proprietary CARMA (CAR therapeutic) drug platform as a whole," he added.

MaxCyte isn’t the typical, binary, heads-you-win, tails-you-lose drug developer you find traditionally on AIM. It has a hybrid business. So, it sells and licenses its cell engineering technology to some of the world’s largest pharma and biotechnology companies.

Revenues up 27%

In the second of two announcements, MaxCyte told investors first-half revenues were US$6.9mln, up 11.6% on the year earlier and in line with market expectations.

It is partnered with commercial and academic cell therapy developers and revealed it 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 from 15 at the same point 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,” it added.

The shares were up 4% at 247.5p, valuing the business at £126mln.

 -- Adds share price --

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Mon, 16 Jul 2018 07:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200817/maxcyte-gears-up-for-first-clinical-trial-after-gaining-regulatory-green-light-200817.html
<![CDATA[RNS press release - MaxCyte & NIH enter CRADA for Sickle Cell Disease ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180611070004_13673686/ Mon, 11 Jun 2018 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180611070004_13673686/ <![CDATA[News - MaxCyte hails US National Institutes of Health tie-up to find treatment for sickle cell disease ]]> https://www.proactiveinvestors.com.au/companies/news/198577/maxcyte-hails-us-national-institutes-of-health-tie-up-to-find-treatment-for-sickle-cell-disease-198577.html MaxCyte Inc (LON:MXCT) shares rose on Monday after it said it has entered into an R&D agreement with the US National Institutes of Health (NIH) to develop treatments for sickle cell disease. 

They will do so using next-generation CRISPR/Cas9-based single-nucleotide correction technologies enabled by MaxCyte's cell engineering platform.

The collaboration will be with National Heart, Lung and Blood Institute, which is part of the NIH.

Correcting mutations

The two hope to "correct" the faulty haemoglobin gene that causes the disease and address DNA mutations that contribute to the disease. 

As part of the tie-up, MaxCyte will supply messenger RNA molecules that convey genetic information from DNA to the ribosomes.

It will also use its Flow Electroporation Technology to develop reliable and effective processes to correct gene sequences.

MaxCyte chief executive Doug Doerfler said: "We believe that this work will further validate our platform for developing gene-editing therapies for a broad range of diseases while enabling rapid, development and commercial manufacturing of new therapies for patients where there is an extremely high unmet medical need."

In early morning trading, Maxcyte shares were up 1.6% at 249p.

-- Adds share price --

 

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Mon, 11 Jun 2018 07:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198577/maxcyte-hails-us-national-institutes-of-health-tie-up-to-find-treatment-for-sickle-cell-disease-198577.html
<![CDATA[RNS press release - Preclinical Results at ASGCT Annual Meeting ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180521070012_13647895/ Mon, 21 May 2018 16:00:12 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180521070012_13647895/ <![CDATA[News - MaxCyte pre-clinical data shows correction of sickle cell disease mutation ]]> https://www.proactiveinvestors.com.au/companies/news/197343/maxcyte-pre-clinical-data-shows-correction-of-sickle-cell-disease-mutation-197343.html MaxCyte Inc's (LON:MXCT) technology may have a role to play in the treatment of sickle cell disease (SCD).

Pre-clinical data presented Friday (May 18) at an industry assessed the use of  non-viral CRISPR-mediated gene-correction in the treatment of the blood disorder.

The data from work with the National Institutes of Health's National Heart Lung and Blood Institute demonstrated the potential of MaxCyte's technologies and the non-viral CRISPR gene correction in the treatment of SCD.

READ: The abstract here 

Delegates at the American Society of Gene and Cell Therapy, held in Chicago, were provided the information in a poster.

The company's chief executive, Doug Doerfler, said: "We're encouraged that MaxCyte's technology is at the forefront of enabling non-viral  CRISPR-mediated correction of disease mutations at clinically-relevant levels.

"We're excited by these results for their potential to bring therapeutic benefit to individuals living with SCD."

 

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Mon, 21 May 2018 07:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197343/maxcyte-pre-clinical-data-shows-correction-of-sickle-cell-disease-mutation-197343.html
<![CDATA[RNS press release - Notice of AGM and Annual Report ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180430070018_13622833/ Mon, 30 Apr 2018 16:00:18 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180430070018_13622833/ <![CDATA[RNS press release - CMO Appointment ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180425070012_13617312/ Wed, 25 Apr 2018 16:00:12 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180425070012_13617312/ <![CDATA[News - MaxCyte appoints Infinity Pharma's Claudio Dansky Ullmann as its chief medical officer ]]> https://www.proactiveinvestors.com.au/companies/news/195733/maxcyte-appoints-infinity-pharma-s-claudio-dansky-ullmann-as-its-chief-medical-officer-195733.html MaxCyte Inc (LON:MXCT) has announced the appointment of Claudio Dansky Ullmann as its chief medical officer, as the firm prepares for clinical testing of its first cell therapy drug candidate.

The AIM-listed company said in his new role, Ullmann will be responsible for overseeing clinical development of MaxCyte’s CARMA drug development program, with the company’s first candidate, MCY-M11, is expected to enter the clinic this year.

READ: MaxCyte reports strong growth in cash and total assets in 2017 as revenues increase by 14%

The global cell-based medicines and life sciences company said Ullmann brings more than 25 years of experience in clinical oncology and drug development.

He was most recently the senior vice president and head of clinical development at Infinity Pharmaceuticals, where he oversaw all clinical development and operations, shaped corporate strategy and was directly involved in business development activities.

He also worked at the Cancer Therapy Evaluation Program of the National Cancer Institute (NCI) and held research roles at the National Institute of Health.

Doug Doerfler, MaxCyte’s CEO, said: “His broad experience in cancer therapy drug development will be invaluable at this stage in MaxCyte’s evolution form a cell engineering technology company to a drug developer with a pipeline of CARMA drug candidate programs.”

The CEO added: “Furthermore, with his deep understanding of the development of immune-oncology therapies and other cancer treatments, Claudio will help us to advance our Flow Electroporation technology to enable our partners to make important medical.

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Wed, 25 Apr 2018 09:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195733/maxcyte-appoints-infinity-pharma-s-claudio-dansky-ullmann-as-its-chief-medical-officer-195733.html
<![CDATA[RNS press release - Final Results for Year Ended 31 December 2017 ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180404070003_13590509/ Wed, 04 Apr 2018 16:00:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180404070003_13590509/ <![CDATA[News - MaxCyte reports strong growth in cash and total assets in 2017 as revenues increase by 14% ]]> https://www.proactiveinvestors.com.au/companies/news/194227/maxcyte-reports-strong-growth-in-cash-and-total-assets-in-2017-as-revenues-increase-by-14-194227.html MaxCyte Inc (LON:MXCT) reported strong growth in its cash and total assets in 2017 as revenues increased by 14% and gross margins remained stable.

The AIM-listed global cell-based medicines and life sciences company said its revenue for the year to 31 December 2017 was US$14.0mln, up from US$12.3mln a year earlier, with gross margins unchanged at 90%.

READ: MaxCyte prepares for phase I study of potential cancer breakthrough

The firm is developing CARMA, an mRNA-based proprietary chimeric antigen receptor (CAR) platform for autologous cell therapy.

MaxCyte said its investment in CARMA in 2017 was US$7.5mln, up from US$1.3mln in 2016 as the company prepared and completed the filing of its first investigational new drug application with the US Food & Drug Administration.

The group’s net loss before​ CARMA investment was US$2.4mln in 2017, up from a US$2.0mln net loss in 2016, while adjusted underlying earnings (EBITDA) before CARMA investment was a loss of US$1.2mln in both 2016 and 2017.

As at 31 December 2017, MaxCyte’s total assets were US$31.4mln, up from US$16.1mln a year earlier, with its cash and cash equivalents totalling US$25.3mln, up from $11.7mln in 2016, boosted by its successful fund raise of US$25.5mln in April 2017.

Core markets growing very rapidly

Commenting on the annual results, Doug Doerfler, MaxCyte’s CEO said: "Our core markets, cell therapy and immuno-oncology, are growing very rapidly.

“With our unique technology, we remain at the forefront of a wide variety of programmes across this exciting and increasingly valuable area of healthcare.”

He added: “This is a very exciting time for the Company and patients as we bring a new generation of CAR-based cancer treatments into the clinic for the first time, and continue to enable our partners to make important new medical advancements.

“We look forward to the future with great confidence."  

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Wed, 04 Apr 2018 08:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194227/maxcyte-reports-strong-growth-in-cash-and-total-assets-in-2017-as-revenues-increase-by-14-194227.html
<![CDATA[RNS press release - Notice of Full Year Results ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180315070008_13567569/ Thu, 15 Mar 2018 18:00:08 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180315070008_13567569/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180228170028_13549898/ Thu, 01 Mar 2018 04:00:28 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180228170028_13549898/ <![CDATA[RNS press release - Grant of Options ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180215070006_13533827/ Thu, 15 Feb 2018 18:00:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180215070006_13533827/ <![CDATA[News - MaxCyte defying the odds as it gears up for pivotal year ]]> https://www.proactiveinvestors.com.au/companies/news/191636/maxcyte-defying-the-odds-as-it-gears-up-for-pivotal-year-191636.html The life sciences sector can often be a graveyard for investors. That’s because the likelihood of success of drug candidate entering Phase I clinical trials is 9.6%, according to the Bio Innovation Organisation, or just under 12% if the failure rates in the oncology sector are factored out of the equation.

In short, you’d be better off spending your money at the local casino.

However, once in a while, a company comes along that defies the odds and provides a decent return for investors along the way.

A case in point is MaxCyte Inc (LON:MXCT), where £1,000 invested at float two years ago would now be worth just north of £3,500. Not a bad payback.

WATCH: MaxCyte gearing up for trial 

At this stage it should be pointed out that MaxCyte isn’t the typical, binary, heads-you-win, tails-you-lose drug developer you find traditionally on AIM. It has a hybrid business. So, it sells and licenses its cell engineering technology to some of the world’s largest pharma and biotechnology companies.

It is also using its platform, called CARMA, to develop treatments for cancer that incite the body’s own immune system to tackle the killer disease. That’s a hot area at the moment.

What’s new and innovative, even for this very new and innovative strand of research, is that CARMA is being designed to grapple with solid tumours.

The breakthroughs in this field, such as CAR (chimeric antigen receptor) T-cell immuno-therapies, fight blood-borne illness, and yet 90% of cancers are solid tumours.

READ: MaxCyte appoints biotech pioneer as independent director

Early results from pre-clinical research carried out by the world-famous Johns Hopkins Hospital in Baltimore have been encouraging. It also has a collaboration with Washington University in St. Louis.

The advance in MaxCyte's share price, which has risen to around 250p today from 70p at IPO in March 2016, has closely followed the progress the company has made as its first drug candidate has edged closer to the clinic.

Last month, MaxCyte told investors it was in active discussions with the US Food & Drug Administration (FDA) to begin the study of MCY-M11, which is based on its CARMA technology.

MaxCyte believes its discovery will address some of the most significant issues with current CAR-T therapies, including challenging side-effects and time-consuming manufacturing process that are involved.

CAR-T is a promising new way of getting T cells (white blood cells that helps ward off disease) to fight cancer by changing them in the lab so they can find and destroy cancer cells.

Funds available for growth

Financially the firm has the wherewithal to achieve its aims. As at 31 December 2017, MaxCyte’s total assets were US$31.4mln, up from US$16.1mln a year earlier, with its cash and cash equivalents totalling US$25.3mln, up from $11.7mln in 2016, boosted by its successful fund raise of US$25.5mln in April 2017.

MaxCyte's full-year results showed its investment in CARMA in 2017 was US$7.5mln, up from US$1.3mln in 2016 as the company prepared and completed that first investigational new drug application with the US FDA.

The group’s revenue for the year to 31 December 2017 increased by 14% to US$14.0mln, up from US$12.3mln a year earlier, with gross margins unchanged at 90%, while its net loss before the CARMA investment was US$2.4mln in 2017, wider from the US$2.0mln net loss in 2016, and adjusted underlying earnings (EBITDA) before CARMA investment was a loss of US$1.2mln in both 2016 and 2017.

READ: MaxCyte reports strong growth in cash and total assets in 2017

Commenting on the annual results, Doug Doerfler, MaxCyte’s CEO said: "Our core markets, cell therapy and immuno-oncology, are growing very rapidly. With our unique technology, we remain at the forefront of a wide variety of programmes across this exciting and increasingly valuable area of healthcare.”

Attracting attention

MaxCyte appears to be at that stage where it is attracting the attention of senior figures in the industry.

In fact, one of those movers and shakers, Richard Douglas, has joined the company as an independent director.

Douglas is one of the pioneers of biotechnology, having been vice president of corporate development and corporate officer at Genzyme from 1989 until its sale to Sanofi in 2011.

“Richard's wealth of expertise in business and corporate development and his deep life sciences industry experience will bring invaluable perspective to the MaxCyte board,” said Doerfler.

Experience like that will count for a great deal as the company attempts to keep up the current pace of development.

 -- Updates with latest results --

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Wed, 14 Feb 2018 11:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191636/maxcyte-defying-the-odds-as-it-gears-up-for-pivotal-year-191636.html
<![CDATA[RNS press release - Dr Richard Douglas Joins MaxCyte Board ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180213070003_13530556/ Tue, 13 Feb 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180213070003_13530556/ <![CDATA[News - MaxCyte appoints biotech pioneer as independent director ]]> https://www.proactiveinvestors.com.au/companies/news/191559/maxcyte-appoints-biotech-pioneer-as-independent-director-191559.html MaxCyte PLC (LON:MXCT) has appointed a new independent director who brings with him three decades’ of experience in the life sciences industry gleaned working with one of the pioneers of biotechnology.

He is Richard Douglas, who was senior vice president of corporate development and corporate officer at Genzyme Corporation from 1989 until its sale to Sanofi in 2011.

READ: MaxCyte Inc gearing up for phase I study of potential cancer breakthrough

During this period he led numerous acquisitions, licences, financings, joint ventures and strategic alliances.

He currently serves as an advisor to RedSky Partners, a biotechnology-focused advisory firm.

Wealth of experience

MaxCyte chief executive Doug Doerfler said: “Richard's wealth of expertise in business and corporate development and his deep life sciences industry experience will bring invaluable perspective to the MaxCyte board.

"We are extremely pleased to have Richard as part of our organisation as we further our enablement of new medicines in the areas of gene editing and immuno-oncology, and move our first product candidate from our CARMA therapeutic platform into the clinic."

MaxCyte describes itself as a global cell-based medicines and technology company.

CARMA the bedrock of the business 

It has developed a technology called CARMA which is funded from its income and cash reserves.

This is being deployed to tackle cancer and it is hoped the platform will be spawn the next-generation immuno-oncology treatments that use the body’s own immune system to fight the disease.

What’s new and innovative, even for this very new and innovative strand of research, is that CARMA is being designed to grapple with solid tumours.

The breakthroughs in this field, such as CAR T-cell immuno-therapies, fight blood-borne illness, and yet 90% of cancers are solid tumours.

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Tue, 13 Feb 2018 08:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191559/maxcyte-appoints-biotech-pioneer-as-independent-director-191559.html
<![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180201160624_13518784/ Fri, 02 Feb 2018 03:06:24 +1100 https://www.proactiveinvestors.com.au/companies/rns/14537/LSE20180201160624_13518784/