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MaxCyte inks licensing deal with Myeloid Therapeutics to advance cancer therapies

Myeloid will obtain non-exclusive clinical and commercial rights to use MaxCyte's flow electroporation technology and ExPERT platform, while in return the company will receive development and approval milestones as well as sales-based payments

MaxCyte Inc - MaxCyte inks licensing deal with Myeloid Therapeutics to advance cancer therapies

MaxCyte Inc (LON:MXCT) said it has signed a clinical and commercial licensing agreement with immunology firm Myeloid Therapeutics Inc to advance novel cell therapies to treat solid tumours, T-cell lymphoma and glioblastoma.

The company said Myeloid will obtain non-exclusive clinical and commercial rights to use MaxCyte's flow electroporation technology and ExPERT platform, which it will use to advance its pipeline of programs, while in return MaxCyte will receive undisclosed development and approval milestones, and sales-based payments, along with other licensing fees.

READ: MaxCyte commercial arm trading ahead of expectations; working on strategy for and future funding of the CARMA business

The ExPERT platform uses electroporation, a technique in which an electrical field is applied to cells to increase the permeability of their membranes, for complex and scalable cell engineering. Meanwhile, Myeloid’s ATAK platform uses myeloid cells to help patients fighting cancers that are difficult to treat.

"We are proud to support Myeloid's work and are excited about the company's novel approach to engineering and harnessing the innate capabilities of the myeloid cell”. MaxCyte president and chief executive Doug Doerfler said in a statement.

“This agreement represents an important achievement for MaxCyte as it expands the use of our next-generation technology platform to support engineering in novel cell types. Myeloid's ATAK technology is being developed for several critical applications in cancer", he added.

Quick facts: MaxCyte Inc

Price: 700 GBX

AIM:MXCT
Market: AIM
Market Cap: £541.96 m
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on 1/10/20

2 min read