MaxCyte Inc (AIM:MXCT) said it has signed a strategic platform license for South Korean chemical company LG Chem to get non-exclusive clinical and commercial rights to use its Flow Electroporation technology and ExPERT platform.
The AIM-listed cell-engineering company is entitled to receive platform licensing fees and program-related revenue.
LG Chem will use the technology to strengthen its anti-cancer sector through the construction of advanced cell drug platform technologies.
Its LR19023 next-generation CAR-T cell treatment is currently in the pre-clinical stage and under development as a treatment for solid cancer tumours.
MaxCyte chief executive Doug Doerfler said: "This partnership represents our first SPL with a South Korean company and broadens our reach into Asia to provide advanced technologies that support the clinical and commercial development of engineered cell therapies, and ultimately change the lives of patients with cancer."