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MaxCyte poised for more growth after progress across all areas of the business this year

Half-year revenues were up 13.5% from a year earlier, keeping things ticking higher as the company focused on its licence agreement with CRISPR.

Cell editing
The company strengthened its balance sheet in April with a successful funding round

US-based cell engineering technology firm MaxCyte Inc (LON:MXCT) is poised for continued growth after a solid first half of the year.

Revenues in the first six months of 2017 rose 13.5% to US$6.2mln from US$5.5mln a year earlier, with progress seen across all areas of the business.

A particular focus this year has been the commercial licence agreement with CRISPR Therapeutics (NASDAQ:CRSP) and investment in the company’s commercial platform.

READ MaxCyte deal puts it at the forefront of developments in the cutting edge arena of gene editing

The company now has 15 programmes licensed for clinical stage use.

On course to submit the first investigational new drug application from its CARMA platform by the end of 2017

It remains focused on advancing its CARMA immuno-oncology programme and is on course to submit its first investigational new drug application from the programme by the end of the year, which will certainly be a champagne cork-popping moment for the company.

“For this year, given the timing of certain contracts, we expect an increase in the normal seasonal weighting of revenues as compared to the prior year,” revealed Doug Doerfler, MaxCyte’s chief executive officer.  

“Other business highlights have included the signature of a commercial licence agreement with CRISPR Therapeutics and Casebia Therapeutics, MaxCyte's cooperative research and development agreement ("CRADA") with the National Institute of Health's ("NIH") National Institute of Allergy and Infectious Diseases ("NIAID"), and recently presented and published scientific data.

"MaxCyte's proprietary technology is now uniquely positioned as an enabler for the clinical and commercial application of cutting-edge treatments in immuno-oncology and gene editing. Having implemented several key global sales and marketing initiatives in support of the instrument business in the first half of the year, the company remains focused on building momentum and on continuing to deliver significant growth,” Doerfler added.

Quick facts: MaxCyte Inc

Price: 110 GBX

AIM:MXCT
Market: AIM
Market Cap: £63.13 m
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