And yet another commercial licence agreement
Update | 21 November 2019
MaxCyte has signed another multi-product clinical and commercial licence agreement, this time with Vor Biopharma after signing a similar deal with Editas last month. This licence agreement will allow Vor Biopharma to use MaxCyte’s ExPERT flow electroporation instruments to develop and commercialise up to five oncology therapies. The lead therapy is VOR33, and uses engineered haemopoietic stem cells to allow acute myeloid lymphoma (AML) patients to be better treated. The strength of MaxCyte’s technology in enabling novel cell therapies to be developed is also highlighted by the initial data from Vertex/CRISPR Therapeutics with CTX001 in the treatment of beta-thalassaemia and sickle cell disease. We continue to value MaxCyte at £195m (341p/share), but there is now more upside potential.
|Year-end: December 31||2017||2018||2019E||2020E|
|Adj. PBT (US$m)||(9.9)||(8.9)||(16.6)||(16.2)|
|Net Income (US$m)||(9.9)||(8.9)||(16.6)||(16.2)|
21 November 2019
|Shares in issue||57.3m|
|12 month range||107.5-200.0p|
MaxCyte uses its patented flow electroporation platform to transfect a wide array of cells. Revenues arise from sale and lease of equipment, disposables and licence fees; with an impressive client list. Additionally, a novel mRNA mediated CAR technology, known as CARMA, is being explored in various cancers, including solid tumours.
Mick Cooper PhD
+44 (0) 20 3637 5042
+44 (0) 20 3637 5041
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