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 is doing
In April, MaxCyte said business remains resilient due to strong recurring revenues although the coronavirus pandemic could hit revenues.
It also expects significant growth in the life sciences business segment.
Dosing for the phase I clinical trial of its non-viral mRNA-based cell therapy candidate MCY-M11, targeting ovarian cancer and peritoneal mesothelioma, commenced on schedule.
However, trials could be delayed for treatments not targeting coronavirus, so the firm is considering cuts to research & development spend.
In March, the firm signed a licensing deal with a company developing the next wave of cancer immunotherapies.
MaxCyte will receive “undisclosed development, approval and commercial milestones in addition to other licensing fees”.
What the boss says: Doug Doerfler, chief executive
"We are working diligently to keep our employees, their families, our partners and our vendors safe, while continuing to serve our customers and patients. With a resilient business model we have every reason to remain highly optimistic for the future."
- £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.”