MaxCyte Signs Strategic Platform License with Prime Medicine to Advance Next-Generation Gene Editing Therapies for Patients
Prime Medicine to use MaxCyte's Flow Electroporation® technology and ExPERT™ platform to advance their innovative Prime Editing technology and develop a new class of one-time, potentially curative therapies
ROCKVILLE, MD, August 1, 2023 - 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 to support innovative, cell-based research, today announced the signing of a strategic partnership with Prime Medicine, Inc., a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies.
Under the terms of the agreement, Prime Medicine obtains non-exclusive clinical and commercial rights to use MaxCyte's Flow Electroporation® technology and ExPERT™ platform. In return, MaxCyte is entitled to receive annual license fees and program-related revenue.
"We are pleased to partner with Prime Medicine and support their breakthrough gene editing technology," said Doug Doerfler, President and CEO of MaxCyte. "The company's innovative vision and transformative scientific approach are clearly reshaping how genetic diseases are studied and ultimately will be treated."
Prime Medicine is a leading biotechnology company dedicated to creating and delivering the next generation of gene editing therapies to patients. The Company is leveraging its proprietary Prime Editing platform, a versatile, precise and efficient gene editing technology, to develop a new class of differentiated, one-time, potentially curative genetic therapies. Designed to make only the right edit at the right position within a gene while minimizing unwanted DNA modifications, Prime Editors have the potential to repair almost all types of genetic mutations and work in many different tissues, organs and cell types.
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. Prime Medicine is MaxCyte's 23rd strategic partnership overall, each of which generates pre-commercial milestone revenue and the vast majority of which include sales-based payments.
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, as well as 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 Twitter and LinkedIn.
MaxCyte Contacts:
US IR Adviser
Gilmartin Group
David Deuchler, CFA
+1 415-937-5400
ir@maxcyte.com
US Media Relations
Spectrum Seismic Collaborative
Valerie Enes
+1 408-497-8568
valerie@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
Consilium Strategic Communications
Mary-Jane Elliott
Chris Welsh
+44 (0)203 709 5700
maxcyte@consilium-comms.com
