What MaxCyte does
MaxCyte Inc (LON:MXCT) is developing an experimental targeted cancer treatment but also licenses out the technology to larger biotechs and pharma companies, including the international giant Gilead Sciences Inc (NASDAQ:GILD), to aid their discovery process.
MaxCyte’s CARMA platform is being used to develop some of the first drug candidates that use the company’s own immune system to fight solid tumours.
Its lead candidate, MCY-M11 is what’s known as a chimeric antigen receptor, CAR therapy, which gives T-cells the new ability to target a specific protein.
T-cells are part of the immune system and circulate around our bodies, scanning for cellular abnormalities and infections.
How it's doing
Emma Ulker at Proactive Research wrote in February: "MaxCyte delivered a consensus-beating 30% step-up in 2019 (FY19) revenues, driven by sales of licences for its proprietary cell engineering platform and early clinical milestones from some of its eight clinical/commercial licences, reaching a five-year revenue compound annualised growth rate (CAGR) of 25%.
"With more than US$650mln in potential pre-commercial milestones payable from its eight clinical/commercial licences with cell therapy partners, recent advances in its partners’ development programmes are set to translate into further upside to core revenues from FY20.
"With its novel cell therapy platform CARMA now separated into a wholly-owned subsidiary, targeting self-sufficiency by 2021, and key data due from its lead asset mid-2020, there is increasing visibility on the value and prospects of both its technology and therapeutic divisions."
What the boss says - Doug Doerfler:
"We are very encouraged by the recent promising data released by our commercial partners, CRIPSR Therapeutics, Precision Biosciences and Editas Medicine.
"Many of MaxCyte's partners, including the three aforementioned plus Kite, a Gilead Company, Vor Biopharma and KSQ Therapeutics, use our technology to enable pioneering therapies using CRIPSR and other gene-editing techniques."
- £650mln of milestone payments in pipeline
- Partnered with some of the giants of pharma industry
- Revenues growing rapidly
- CARMA becomes self-sufficient
“Our core markets, cell therapy and immuno-oncology continue to expand rapidly as do applications for gene-editing technologies in the development of various therapies for the treatment of inherited genetic diseases and a number of cancers,” says chief executive Doug Doerfler.
“MaxCyte has established itself as a world leader in non-viral cell engineering - offering a rapid and efficient means of delivering the future generation of cell-based therapies, which is underlined by recent commercial and research partnerships with leading biotech companies including Kite.”