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MaxCyte making "significant progress" commercially and in the clinic

In the opening six months MaxCyte generated revenues of US$8.4mln via licensing deals, up 21%

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It now has 80 cell therapy programmes with potential milestone payments worth US$250mln

MaxCyte Inc (LON:MXCT) said it had made “significant progress” both clinically and commercially in the first half.

The company is a hybrid, licensing out its CARMA technology while also developing its own cancer therapy developed using in-house expertise.

The former first: it now has 80 cell therapy programmes with potential milestone payments worth US$250mln having partnered with industry big hitters such as Gilead, CRISPR Therapeutics and Precision BioSciences.

In the opening six months MaxCyte generated revenues of US$8.4mln via licensing deals, up 21%.

The group recently launched a next-generation suite of instruments and disposables called ExPERT, which have received “positive feedback and strong interest” from existing and new customers.

Clinical trial 

Turning to its efforts in the clinic, MaxCyte’s researchers are carrying out a phase I trial MCY-M11, which is being given to people with very hard to treat cases of ovarian cancer peritoneal mesothelioma, which affects the lining of the abdomen.

The first 15 patients in the dose escalation trial have been treated and in May the team started administering the drug to a second group, or cohort.

“We look forward to providing a more detailed update at our half year results in September 2019, and on our continued progress throughout the second half of the year," said chief executive Doug Doerfler of the MaxCyte clinical programme.

Interim results from the company are expected on the week of September 16.

Quick facts: MaxCyte Inc

Price: 110 GBX

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