MaxCyte Board Member Richard Douglas, PhD, Appointed Chairman of the Board
MaxCyte, a leader in cell-engineering, announces the appointment of Richard Douglas, PhD, as Chair of the Board, succeeding J. Stark Thompson, PhD, who will remain a consultant. Douglas, a board member since 2018, brings extensive experience from roles at RedSky Partners, Aldeyra Therapeutics, and Novavax. His leadership follows a pivotal period marked by the company's first U.S. public offering. CEO Doug Doerfler praised Douglas for his valuable contributions and the foundation laid by Thompson, emphasizing the company’s strong position in the expanding cell therapy market.
- Richard Douglas's appointment is expected to provide strong leadership continuity.
- Douglas's extensive industry experience is likely to enhance strategic direction.
- The transition follows a successful U.S. public offering, indicating positive market confidence.
- Concerns about leadership continuity may arise with the transition from Thompson to Douglas.
- Potential experience gaps could impact strategic decisions initially.
GAITHERSBURG, Md., Nov. 03, 2021 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT, MXCN) is a leading commercial cell-engineering company focused on providing enabling platform technologies to advance innovative cell-based research as well as next-generation cell therapeutic discovery, development and commercialization. The company today announces that its Board of Directors has appointed Richard Douglas, PhD, as Chair of the Board. Richard Douglas has been a Board Member since February 2018. He succeeds J. Stark Thompson, PhD, who previously announced his decision not to seek re-election. Dr. Thompson will remain as a consultant to MaxCyte.
“MaxCyte’s ExPERT™ technology and cell engineering expertise is well-known throughout the industry and I’m extremely proud to step into the role of Board Chair on the heels of its first U.S. public offering, which marks a pivotal time in the Company’s history,” said Dr. Douglas.
Dr. Douglas is a veteran pharmaceutical executive who presently serves as an adviser at RedSky Partners, Chair of the Board of Aldeyra Therapeutics, a director of Novavax Inc., and Chair of the National Advisory Board of Innovation Partnerships at the University of Michigan. He formerly held the role of Senior Vice President of Corporate Development and Corporate Officer at Genzyme Corporation where he led numerous acquisitions, licenses, financings, joint ventures, and strategic alliances. He had previously held scientific and corporate development roles at Integrated Genetics.
“Since bringing his wealth of experience to the board in 2018, Richard has been a valuable contributor as we sought to list on the Nasdaq. His new role is a natural transition for him to continue the strong, impactful leadership that MaxCyte has enjoyed under Stark’s guidance of the Board since the founding of MaxCyte,” commented Doug Doerfler, Chief Executive Officer, President and Founder of MaxCyte. “Stark helped set the foundation as we built MaxCyte to be the leading enabling platform technology in cell therapy worldwide. It has been a true honor to work with him and we thank him for his dedication and perspective.”
“It has been an honor to serve on the MaxCyte board. The company is well positioned to continue providing its industry-leading technology to the rapidly expanding cell therapy development pipeline,” remarked Dr. Thompson.
About MaxCyte
MaxCyte is a leading commercial cell-engineering company focused on providing enabling platform technologies to advance innovative cell-based research as well as next-generation cell therapeutic discovery, development and commercialization. Over the past 20 years, we have developed and commercialized our proprietary Flow Electroporation® platform, which facilitates complex engineering of a wide variety of cells. 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: three instruments, the ATx™, STx™ and GTx™; a portfolio of proprietary related processing assemblies or disposables; and software protocols, all supported by a robust worldwide intellectual property portfolio.
MaxCyte Contacts:
| US IR Adviser Gilmartin Group David Deuchler, CFA | +1 415-937-5400 ir@maxcyte.com |
| US Media Relations Laura Morgan Sam Brown Healthcare Communications | +1 951-333-9110 lauramorgan@sambrown.com |
| Nominated Adviser and Joint Corporate Broker Panmure Gordon Emma Earl / Freddy Crossley Corporate Broking Rupert Dearden | +44 (0)20 7886 2500 |
UK IR Adviser Consilium Strategic Communications Mary-Jane Elliott Chris Welsh | +44 (0)203 709 5700 maxcyte@consilium-comms.com |
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