MaxCyte Signs Strategic Platform License Agreement with Legend Biotech to Accelerate Cell Therapy Discovery and Development
MaxCyte has signed a strategic platform license agreement with Legend Biotech to accelerate the discovery and development of cell therapies. Under this non-exclusive worldwide license, Legend Biotech will use MaxCyte’s Flow Electroporation® technology and ExPERT™ platform for various cell types, including T cells and NK cells. MaxCyte will receive annual licensing fees, clinical development milestones, and royalties on net sales of the licensed products. This marks MaxCyte’s 28th clinical/commercial partnership, emphasizing its role in advancing cell-based therapeutics.
The partnership aims to enhance Legend Biotech’s non-viral engineered therapeutic pipeline, leveraging MaxCyte’s expertise in scalable cell engineering and regulatory support. The ExPERT™ platform provides high transfection efficiency and seamless scalability, essential for developing innovative cell therapies. Both companies aim to transform the treatment landscape and meet expanding clinical and commercial needs.
- MaxCyte will receive annual licensing fees from Legend Biotech.
- Potential for milestones and royalties upon successful commercialization.
- The agreement supports Legend Biotech’s expansion into non-viral engineered cell therapies.
- MaxCyte’s 28th clinical/commercial partnership, demonstrating strong industry relevance.
- The ExPERT™ platform offers high transfection efficiency and scalability.
- The partnership aims to enhance global technical, scientific, and regulatory support.
- Legend Biotech seeks to create a broad portfolio of cell therapies, potentially boosting demand for MaxCyte’s technologies.
- The agreement is non-exclusive, potentially allowing competition.
- Revenue from milestones and royalties is contingent on successful commercialization.
- No immediate financial gain reported; dependent on future milestones and royalties.
Insights
MaxCyte’s licensing agreement with Legend Biotech carries considerable financial implications. By securing a non-exclusive worldwide license for its Flow Electroporation® technology and ExPERT™ platform, MaxCyte ensures a steady stream of
Upon successful commercialization of Legend Biotech's products, royalties on net sales could become a significant revenue driver. Such recurring revenue streams are highly valued in the stock market as they provide long-term financial benefits.
For retail investors, understanding the financial model of licensing fees and royalties is key. These revenues are typically less variable and more predictable compared to product sales, which can be highly uncertain.
The collaboration involving MaxCyte's Flow Electroporation® technology and Legend Biotech’s cell-based therapeutics pipeline introduces significant potential for innovative treatments. MaxCyte's technology allows for efficient, scalable and non-viral cell engineering, which is important for developing advanced cell therapies such as those targeting T cells, Gamma-Delta T cells and NK cells.
These cell types play pivotal roles in immunotherapy, an area of rapidly growing interest due to its potential to treat various cancers and immune disorders. By incorporating non-viral methods, MaxCyte aims to reduce safety concerns and improve the efficacy and durability of cell-based treatments.
Investors should note that partnerships in the biotech space often lead to shared expertise and accelerated development timelines, potentially bringing therapeutic products to market faster and more efficiently.
Legend Biotech’s decision to utilize MaxCyte’s platform underscores the competitive positioning of MaxCyte within the cell therapy market. This market is projected to grow significantly, driven by increasing adoption of advanced therapies for treating complex diseases. MaxCyte’s technology, noted for its high transfection efficiency and scalability, positions it as a key enabler in this burgeoning field.
For retail investors, it’s important to recognize the strategic value of MaxCyte’s 28th clinical/commercial partnership. The consistent milestone revenue generated from these partnerships highlights the strength and attractiveness of MaxCyte’s platform technologies to industry players, which could lead to future collaborations and revenue growth.
In the context of industry standards, MaxCyte’s technology aligns well with the current demands for scalable, efficient and safe cell engineering solutions, providing a competitive edge and potential market share growth.
Legend Biotech obtains license to use MaxCyte’s Flow Electroporation® technology and ExPERT™ platform to support its non-viral engineered pipeline portfolio across a variety of cell types including T cells, Gamma-Delta T cells and NK Cells.
ROCKVILLE, Md., May 22, 2024 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development, and commercialization of next-generation cell-based therapeutics and innovative bioprocessing applications, today announced it has entered into a strategic platform license (SPL) agreement with Legend Biotech, a global leader in cell therapy.
Under the terms of the SPL, Legend Biotech obtains a non-exclusive worldwide license to use MaxCyte’s Flow Electroporation® technology and ExPERT™ platform in connection with the research, clinical development and commercialization of cell-based therapeutical products (Licensed Products). In return, MaxCyte will be eligible to receive annual licensing fees and milestones from Legend Biotech during clinical development and, upon successful commercialization, is eligible to receive licensing fees and royalties on net sales of licensed products.
“We are looking forward to supporting Legend Biotech’s non-viral engineered cell therapy program as they expand their portfolio with new delivery modalities. As a leading provider of cell-engineered platform technologies for drug developers, our global infrastructure allows us to provide Legend Biotech with technical, scientific, and regulatory support to advance its non-viral engineered therapeutic pipeline across all major regions,” said Maher Masoud, President and CEO of MaxCyte. “We are thrilled to enable Legend Biotech in scaling and optimizing its manufacturing process to meet their expanding clinical and commercial needs.”
“MaxCyte’s clinical manufacturing platform, non-viral cell engineering technology, and regulatory expertise will support the development of our product pipeline across a wide variety of cell types and modalities,” said Ying Huang PhD, Chief Executive Officer of Legend Biotech. “Our goal is to transform the treatment landscape by creating a broad portfolio of cell therapies to help strengthen patients’ immune systems and fight disease.”
MaxCyte’s ExPERT™ instrument portfolio is the next generation of leading, clinically-validated electroporation technology for complex and scalable cell engineering. By delivering high transfection efficiency, seamless scalability and enhanced functionality, the ExPERT™ platform delivers the high-end performance essential to enabling the next wave of biological and cellular therapeutics. Legend Biotech is MaxCyte’s 28th clinical / commercial partnership overall, each partnership generates pre-commercial milestone revenue, the vast majority of which includes program-related revenue.
About MaxCyte
At MaxCyte, we pursue cell engineering excellence to maximize the potential of cells to improve patients’ lives. We have spent more than 20 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 (formerly Twitter) and LinkedIn.
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 about us and our industry involve substantial known and unknown risks, uncertainties, and assumptions, including those described in Item 1A under the heading “Risk Factors” and elsewhere in our report on Form 10-K, that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. 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. Forward-looking statements include, but are not limited to, statements about the Company’s expectations regarding annual licensing revenue, pre-commercial milestone revenue, including program related revenue and royalties on sales of products. In some cases, you can identify forward-looking statements because they contain words such as "may," “might,” "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," “expect,” "estimate," “seek,” "predict," “future,” "project," "potential," "continue," “contemplate,” "target,” the negative of these words and similar words or expressions. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. The forward-looking statements contained in this press release, include, without limitation, statements concerning the following: our expected future growth and success of our business model; the size and growth potential of the markets for our products, and our ability to serve those markets, increase our market share, and achieve and maintain industry leadership; our ability to expand our customer base and enter into additional SPL partnerships; our expectation that our partners will have access to capital markets to develop and commercialize their cell therapy programs; our financial performance and capital requirements; the adequacy of our cash resources and availability of financing on commercially reasonable terms; our expectations regarding our ability to obtain and maintain intellectual property protection for our products, as well as our ability to operate our business without infringing the intellectual property rights of others; our expectations regarding general market and economic conditions that may impact investor confidence in the biopharmaceutical industry and affect the amount of capital such investors provide to our current and potential partners; and our use of available capital resources.
These and other risks and uncertainties are described in greater detail in Item 1A , entitled "Risk Factors,” in 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 March 31, 2024, filed with the SEC on May 7, 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.
MaxCyte Contacts:
US IR Adviser
Gilmartin Group
David Deuchler, CFA
+1 415-937-5400
ir@maxcyte.com
US Media Relations
Spectrum Seismic Collaborative
Anya Bolshem
abolshem@spectrumscience.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
ICR Consilium
Mary-Jane Elliott
Chris Welsh
+44 (0)203 709 5700
maxcyte@consilium-comms.com
FAQ
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