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MaxCyte, Inc. (NASDAQ: MXCT) is a pioneering commercial cell-engineering company dedicated to advancing cell-based research and next-generation cell therapeutic discovery, development, and commercialization. At the heart of MaxCyte’s offerings is their proprietary Flow Electroporation® platform, which seamlessly facilitates the intricate engineering of a diverse range of cells, making it indispensable for modern cell therapy advancements.
MaxCyte’s core business model revolves around the sale and licensing of their cutting-edge instruments and single-use disposable processing assemblies. The company’s ExPERT™ platform, a next-generation suite of electroporation technology, delivers unparalleled transfection efficiency, scalability, and functionality. This platform is pivotal in supporting the growing cell therapy market, catering to needs from the discovery phase through to full-scale commercialization.
Recent achievements highlight MaxCyte’s significant role in the industry. For instance, Imugene is leveraging MaxCyte’s technology to support its azer-cel CAR T product candidate, potentially a ground-breaking treatment for blood cancer. Meanwhile, Wugen and Be Biopharma also utilize MaxCyte’s platforms to drive forward their innovative cancer therapies and engineered B cell medicines, respectively. These collaborations not only underscore the efficacy and versatility of MaxCyte’s technology but also expand its footprint across various therapeutic areas.
Financially, MaxCyte benefits from a robust revenue model that includes platform licensing fees, annual license fees, and program-related revenue. Their diverse portfolio of partners and extensive clinical and commercial collaborations highlight the trust and reliance placed on MaxCyte's technologies within the biotech industry.
As a company, MaxCyte is unwavering in its commitment to cell engineering excellence. With over two decades of experience, the company has honed its expertise in building best-in-class platforms, perfecting transfection workflows, and pushing the boundaries of current processes to innovate future solutions. Their extensive intellectual property portfolio and comprehensive support services for partners underscore their aim to transform human health through cutting-edge cell engineering.
MaxCyte continues to be at the forefront of cell engineering innovations, partnering with leading biotech firms globally and providing the tools necessary to accelerate the development of life-saving therapies. For more information, visit maxcyte.com and follow MaxCyte on social media platforms like X (formerly Twitter) and LinkedIn.
MaxCyte, a leader in cell-engineering technology, announced it will release its financial results for the first quarter of 2023 on May 10, 2023, after the U.S. market close. A conference call will follow at 4:30 p.m. ET to discuss these results. MaxCyte's ExPERT platform, which employs Flow Electroporation technology, supports the growing cell therapy market, aiding in the discovery and commercialization of next-generation cell-based medicines. The company aims to leverage its platforms to improve patient outcomes and has built a robust intellectual property portfolio to enhance its innovative capabilities. Interested investors can register for the call and find live updates on MaxCyte's website.
MaxCyte, a cell-engineering company, has appointed Douglas J. Swirsky as its new Chief Financial Officer effective immediately. With over two decades of experience, Swirsky's previous roles include CFO of AavantiBio and leadership positions at Rexahn Pharmaceuticals and GenVec. The President of MaxCyte expressed enthusiasm about Swirsky’s extensive financial expertise and its potential influence on the company's growth. Concurrently, Ron Holtz, the former CFO, transitions to EVP of Administration after nearly 18 years of service. The company aims to leverage Swirsky's insights to enhance financial operations and shareholder value.
MaxCyte, Inc. (NASDAQ: MXCT) reported a 31% total revenue growth for the full year 2022, reaching $44.3 million. In Q4 2022, total revenue was $12.4 million, up 22% year-over-year. Core business revenues saw 26% growth, driven by a 33% increase in cell therapy revenue. The company anticipates 2023 revenue growth between 21% and 26%, with core growth expected between 20% and 25%. Total cash and equivalents stood at $227.3 million. MaxCyte's partnerships have expanded, with 19 active SPL partnerships and significant potential for pre-commercial milestone payments exceeding $1.55 billion.
MaxCyte has announced the formation of a new Scientific Advisory Board (SAB)
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