MaxCyte Inc. (LON:MXCT) shares jumped higher on Wednesday as the firm inked a new development and commercialization agreement with KSQ Therapeutics, a biotechnology company using its proprietary CRISPRomics discovery platform to achieve higher probabilities of success in drug development.
Under the agreement, KSQ gains the rights to use MaxCyte's Flow Electroporation technology and ExPERT instruments for the advancement of KSQ's engineered tumor-infiltrating lymphocyte (eTIL) programs, which the global cell-based therapies and life sciences company is developing for the treatment of PD-1 refractory solid tumors.
The terms of the agreement will see KSQ obtain non-exclusive clinical and commercial use rights to MaxCyte's cell engineering platform to develop multiple adoptive cell therapies. In return, MaxCyte is eligible to receive certain milestone payments in addition to other licensing fees.
In a statement, Doug Doerfler, president & CEO of MaxCyte commented: "We are delighted to have signed this agreement with KSQ Therapeutics, a company that's forging an exciting path in the field of adoptive cell therapies with the potential to deliver significant benefits to patients.”
“This is the fifth commercial licence we have signed this year, demonstrating that MaxCyte is the partner of choice for leading technology companies, like KSQ, that are at the cutting edge of cell therapy and gene editing," he added.
David Meeker, chief executive officer of KSQ added: "MaxCyte's technology will play an important role in enabling the further development of our eTIL programs as we work to bring best-in-class, cell-based medicines forward for difficult to treat solid tumors."
In early morning trade, MaxCyte shares were 7% higher at 121p.