MaxCyte® Acquires SeQure Dx to Broaden Cell Engineering Offerings with On-target and Off-target Editing Assessments
MaxCyte (MXCT) has acquired SeQure Dx, a leader in on-target and off-target editing assessment services for cell and gene therapies, for an initial $4.5 million in cash with potential additional contingent payments up to $2.5 million based on revenue targets.
SeQure Dx, headquartered in Waltham, Massachusetts, specializes in assays for editing confirmation and risk assessment across viral and non-viral gene editing modalities. The acquisition aims to strengthen MaxCyte's position in serving cell and gene therapy developers with tools spanning R&D through commercialization.
SeQure Dx generated approximately $1.7 million in revenue and incurred a $6.5 million loss in 2024 (based on unaudited results through November). The company transitioned from an assay development and licensing organization to a contract service provider in March 2024. MaxCyte expects improved financial performance through service revenue activity, cost synergies, and operational efficiencies.
MaxCyte (MXCT) ha acquisito SeQure Dx, un leader nei servizi di valutazione dell'editing mirato e non mirato per terapie cellulari e geniche, per un importo iniziale di 4,5 milioni di dollari in contante, con pagamenti aggiuntivi potenziali fino a 2,5 milioni di dollari basati su obiettivi di fatturato.
SeQure Dx, con sede a Waltham, Massachusetts, è specializzata in saggi per la conferma dell'editing e la valutazione del rischio attraverso modalità di editing genetico virali e non virali. L'acquisizione mira a rafforzare la posizione di MaxCyte nel servire i sviluppatori di terapie cellulari e geniche con strumenti che vanno dalla R&S fino alla commercializzazione.
SeQure Dx ha generato circa 1,7 milioni di dollari di fatturato e ha subito una perdita di 6,5 milioni di dollari nel 2024 (basato su risultati non verificati fino a novembre). L'azienda è passata da un'organizzazione di sviluppo e licenza di saggi a un fornitore di servizi contrattuali a marzo 2024. MaxCyte si aspetta un miglioramento delle performance finanziarie attraverso l'attività di fatturato da servizi, sinergie di costo e efficienze operative.
MaxCyte (MXCT) ha adquirido SeQure Dx, un líder en servicios de evaluación de edición dirigida y no dirigida para terapias celulares y génicas, por un pago inicial de $4.5 millones en efectivo, con pagos contingentes adicionales de hasta $2.5 millones basados en objetivos de ingresos.
SeQure Dx, con sede en Waltham, Massachusetts, se especializa en ensayos para la confirmación de ediciones y la evaluación de riesgos en modalidades de edición genética virales y no virales. La adquisición tiene como objetivo fortalecer la posición de MaxCyte en la atención a los desarrolladores de terapias celulares y génicas con herramientas que abarcan desde I+D hasta la comercialización.
SeQure Dx generó aproximadamente $1.7 millones en ingresos y tuvo una pérdida de $6.5 millones en 2024 (con base en resultados no auditados hasta noviembre). La compañía pasó de ser una organización de desarrollo y licenciamiento de ensayos a un proveedor de servicios contractuales en marzo de 2024. MaxCyte espera una mejora en su desempeño financiero a través de la actividad de ingresos por servicios, sinergias de costos y eficiencias operativas.
MaxCyte (MXCT)는 SeQure Dx를 인수했습니다. SeQure Dx는 세포 및 유전자 치료를 위한 목표 및 비목표 편집 평가 서비스의 선두주자로, 초기 현금 450만 달러와 잠재적으로 수익 목표에 따라 최대 250만 달러의 추가 지급이 가능합니다.
매사추세주 월섬에 본사를 둔 SeQure Dx는 바이러스 및 비바이러스 유전자 편집 방식 전반에 걸쳐 편집 확인 및 위험 평가를 위한 검사를 전문으로 합니다. 이번 인수는 R&D부터 상용화까지의 도구로 세포 및 유전자 치료 개발자를 지원하는 MaxCyte의 입지를 강화하기 위한 것입니다.
SeQure Dx는 2024년 약 170만 달러의 수익을 창출했으며, 6.5백만 달러의 손실을 기록했습니다(11월까지의 감사되지 않은 결과 기준). 이 회사는 2024년 3월에 시험 개발 및 라이선스 조직에서 계약 서비스 제공업체로 전환했습니다. MaxCyte는 서비스 수익 활동, 비용 시너지 및 운영 효율성을 통해 재무 성과가 개선될 것으로 기대하고 있습니다.
MaxCyte (MXCT) a acquis SeQure Dx, un leader dans les services d'évaluation de l'édition ciblée et non ciblée pour les thérapies cellulaires et géniques, pour un montant initial de 4,5 millions de dollars en espèces, avec des paiements contingents supplémentaires potentiels allant jusqu'à 2,5 millions de dollars en fonction des objectifs de revenus.
SeQure Dx, dont le siège est à Waltham, dans le Massachusetts, est spécialisée dans les tests de confirmation d'édition et d'évaluation des risques dans le cadre de modalités d'édition génique virales et non virales. L'acquisition vise à renforcer la position de MaxCyte pour servir les développeurs de thérapies cellulaires et géniques avec des outils allant de la R&D à la commercialisation.
SeQure Dx a généré environ 1,7 million de dollars de revenus et a subi une perte de 6,5 millions de dollars en 2024 (basé sur des résultats non audités jusqu'en novembre). La société est passée d'une organisation de développement de tests et de licences à un prestataire de services contractuels en mars 2024. MaxCyte s'attend à une amélioration de sa performance financière grâce à l'activité de revenus de services, aux synergies de coûts et aux gains d'efficacité opérationnelle.
MaxCyte (MXCT) hat SeQure Dx übernommen, einen führenden Anbieter von Bewertungsdiensten für gezielte und nicht gezielte Editierung für Zell- und Gentherapien, für anfängliche 4,5 Millionen Dollar in bar, mit potenziellen zusätzlichen bedingten Zahlungen von bis zu 2,5 Millionen Dollar basierend auf Umsatzzielen.
SeQure Dx, mit Sitz in Waltham, Massachusetts, spezialisiert sich auf Tests zur Bestätigung von Editierungen und Risikoabschätzungen in viralen und nicht-viralen Geneditierungsmodalitäten. Die Übernahme zielt darauf ab, die Position von MaxCyte zu stärken, um Entwicklern von Zell- und Gentherapien mit Tools von der Forschung und Entwicklung bis zur Kommerzialisierung zu dienen.
SeQure Dx erzielte im Jahr 2024 etwa 1,7 Millionen Dollar Umsatz und verzeichnete einen Verlust von 6,5 Millionen Dollar (auf Basis nicht geprüfter Ergebnisse bis November). Das Unternehmen hat sich im März 2024 von einem Prüfungsentwicklungs- und Lizenzierungsunternehmen zu einem Dienstleistungsanbieter gewandelt. MaxCyte erwartet eine Verbesserung der finanziellen Leistung durch Serviceumsätze, Kostensynergien und betriebliche Effizienzen.
- Strategic expansion into safety assessment services for cell and gene therapy market
- Expected to be accretive to MaxCyte's revenue growth
- Integration provides access to early-stage R&D processes
- Potential revenue improvement through transition to service-based model
- SeQure Dx reported $6.5M loss in 2024
- Initial cash outlay of $4.5M with potential additional $2.5M in contingent payments
- SeQure Dx's current revenue is relatively small at $1.7M
Insights
The acquisition of SeQure Dx marks a strategic expansion of MaxCyte's cell and gene therapy capabilities at a relatively modest price point of
The business model transition from assay development to contract services in March 2024 positions SeQure for improved financial performance, particularly when integrated with MaxCyte's established commercial infrastructure. The timing is particularly strategic as safety assessment becomes increasingly critical for regulatory success in the CGT space.
Key value drivers include:
- Integration with MaxCyte's existing customer base provides immediate cross-selling opportunities
- Operational synergies should help reduce SeQure's current losses
- Enhanced service offerings strengthen MaxCyte's competitive position in the growing CGT market
- Early-stage engagement with developers could lead to longer-term revenue opportunities
The deal structure, using existing cash resources, maintains MaxCyte's financial flexibility while the earnout alignment incentivizes revenue growth. The acquisition appears well-timed to capitalize on increasing regulatory focus on CGT safety assessments, potentially accelerating SeQure's path to profitability under MaxCyte's umbrella.
This acquisition represents a significant technological enhancement to MaxCyte's capabilities in the critical area of gene editing safety assessment. SeQure's comprehensive portfolio of evaluation assays addresses a important bottleneck in CGT development - the validation of editing precision and off-target effects assessment.
The strategic value stems from several technical advantages:
- Proprietary assays applicable across multiple gene editing modalities (viral and non-viral)
- Comprehensive safety assessment capabilities that align with increasing regulatory scrutiny
- Integration potential with MaxCyte's existing cell engineering workflow
- Earlier engagement in clients' development processes
Dr. Keith Joung's involvement, with his distinguished background at MGH and Harvard Medical School, adds significant credibility to SeQure's technology platform. The integration of these capabilities positions MaxCyte as a more complete solutions provider in the CGT space, particularly valuable as safety considerations become increasingly paramount for regulatory approval.
This move strengthens MaxCyte's competitive position by offering clients a more comprehensive suite of services spanning from early R&D through clinical development, potentially reducing time-to-market for CGT products while ensuring higher safety standards.
ROCKVILLE, Md., Jan. 30, 2025 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT), a leading, cell-engineering focused company providing solutions to advance the discovery, development and commercialization of next-generation cell therapeutics announced today the acquisition of SeQure Dx, a market leader of on-target and off-target editing assessment services for cell and gene therapies.
This strategic acquisition strengthens MaxCyte’s ability to serve ex vivo and in vivo cell and gene therapy (CGT) developers with an innovative suite of tools and services spanning early R&D through clinical development and commercialization. By integrating SeQure Dx into MaxCyte, Maxcyte will expand its service offerings and leverage its commercial and field application scientist teams to work with developers earlier in their research processes. SeQure Dx is revenue generating and expected to be accretive to MaxCyte’s revenue growth.
As the cell and gene therapy field continues to evolve, safety is increasingly paramount for regulatory success. SeQure Dx specializes in assays that deliver precise editing confirmation and risk assessment for off-target effects, applicable across a wide range of viral and non-viral gene editing modalities. This expertise positions MaxCyte to support both ex vivo and in vivo cell and gene therapy developers in the process development stage through standardization of the cell engineering workflow.
“This acquisition underscores MaxCyte’s commitment to providing CGT developers with cutting-edge tools to address complex cell engineering challenges,” said Maher Masoud, CEO of MaxCyte. “Integrating SeQure Dx into MaxCyte’s portfolio will allow us to leverage our scientific support and complementary offerings to drive advancements in the safety and precision of cell therapies. At MaxCyte, we see tremendous opportunity to transform cell and gene engineering with world-class tools and solutions and will continue to make organic and inorganic growth investments to position the Company as an end-to-end cell and gene engineering solutions provider.”
SeQure Dx, headquartered in Waltham, Massachusetts, was co-founded by Dr. Keith Joung, who at the time was chair in pathology at Massachusetts General Hospital (MGH) and professor at Harvard Medical School. The company emerged from stealth mode in late 2022 with the only comprehensive portfolio of evaluation assays for off-target risk validation and candidate optimization in the development of cell and gene therapies. Following the acquisition, SeQure Dx will continue to drive innovation in assay development for cell and gene therapy safety assessment.
“I am thrilled that SeQure Dx is joining forces with MaxCyte,” said Keith Joung, Co-Founder of SeQure Dx. “Defining and reducing potential off-target effects is an essential component for the advancement of safe and effective gene editing, from program discovery to eventual patient treatment. The shared vision of these two companies will enable them to provide the CGT community with access to SeQure Dx’s comprehensive, state-of-the-art assays and data solutions.
Additional Transaction Details
The following information is being provided in accordance with the disclosure requirements of the AIM rules. Under the terms of the agreement, Maxcyte paid a total initial consideration of
MaxCyte notes that SeQure transitioned their primary business activities from an assay development and licensing organization to a contract service provider in March of 2024. As a result, MaxCyte expects SeQure's revenue and losses to substantially improve with a full year of service revenue activity, capture of cost synergies, integration into MaxCyte’s commercial infrastructure and other improvements to operational efficiencies.
About MaxCyte
At MaxCyte, we pursue cell engineering excellence to maximize the potential of cells to improve patients’ lives. We have spent more than 25 years honing our expertise by building best-in-class platforms, perfecting the art of the transfection workflow, and venturing beyond today’s processes to innovate tomorrow’s solutions. Our ExPERT™ platform, which is based on our Flow Electroporation® technology, has been designed to support the rapidly expanding cell therapy market and can be utilized across the continuum of the high-growth cell therapy sector, from discovery and development through commercialization of next-generation, cell-based medicines. The ExPERT family of products includes: four instruments, the ATx™, STx™, GTx™ and VLx ™; a portfolio of proprietary related processing assemblies or disposables; and software protocols, all supported by a robust worldwide intellectual property portfolio. By providing our partners with the right technology platform, as well as scientific, technical and regulatory support, we aim to guide them on their journey to transform human health. Learn more at maxcyte.com and follow us on X and LinkedIn.
About SeQure Dx
SeQure Dx is a leader in gene editing safety analytics, dedicated to advancing cell and gene therapies from discovery to patient. With a robust portfolio of assays, including the innovative ONE-seq and GUIDE-seq platforms, SeQure Dx provides comprehensive off-target risk assessment solutions for gene editing, spanning from early discovery through IND submission. By addressing critical safety and efficacy challenges, SeQure Dx empowers its partners to develop safe, transformative therapies. Our mission is to ensure these life-changing technologies reach all patients who can benefit. For more information, please visit https://maxcyte.com/sequre-dx.
MaxCyte Contacts:
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David Deuchler, CFA
+1 415-937-5400
ir@maxcyte.com
US Media Relations
Spectrum Science
Jordan Vines
+1 540-629-3137
jvines@spectrumscience.com
Nominated Adviser and Joint Corporate Broker
Panmure Liberum
Emma Earl / Freddy Crossley
Corporate Broking
Rupert Dearden
+44 (0)20 7886 2500
UK IR Adviser
ICR Healthcare
Mary-Jane Elliott
Chris Welsh
+44 (0)203 709 5700
maxcyte@icrhealthcare.com
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, our expectations regarding our integration of the SeQure Dx business and employees with our business. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.
Risks and uncertainties related to our business are described in greater detail in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on March 12, 2024, as well as in discussions of potential risks, uncertainties, and other important factors in the other filings that we make with the Securities and Exchange Commission from time to time, including in our Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November 6, 2024. These documents are available through the Investor Menu, Financials section, under “SEC Filings” on the Investors page of our website at http://investors.maxcyte.com. Any forward-looking statements in this press release are based on our current beliefs and opinions on the relevant subject based on information available to us as of the date of such press release, and you should not rely on forward-looking statements as predictions of future events. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
FAQ
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