MaxCyte Inc (AIM:MXCT) raised its full-year outlook again as it continued to enjoy strong growth in the cell therapy market.
Revenue came in at US$9.6mln for the second quarter of 2022, up 35% year-on-year, with the core business growing 45% and drug discovery up 4%.
Within the core business, revenue from Cell Therapy customers surged 61%, with Korea’s LG Chem coming on as a 17th strategic platform license (SPL) partner and broadening the reach of the SPL portfolio into Asia.
For the whole of 2022, the cell engineering specialist now expects revenue to grow roughly 30%, up from its 25% growth guidance in May.
The ongoing growth of the SPL portfolio continued to provide encouragement, said Doug Doerfler, president and chief executive, as well as the continued progress of existing partnerships.
“Overall, our optimism about the potential for the development programs covered by our existing partners to generate growing revenue in both pre-clinical research and clinical progress remains high,” he said.
Doerfler said the adoption of the ExPERT platform to enable a broad range of cell types and approaches is increasing within the industry.
“We are making ongoing investments to drive revenue growth, support and expand the widening array of applications for our technology, while also strengthening our team and expanding our ability to support customers through in-house manufacturing and robust infrastructure.
“These investments should allow us to take advantage of expanding markets and support our partners as they move forward in development and commercialization."
MaxCyte had cash and equivalents of US$240.9mln at the end of June.