Commercial licence agreement with KSQ
Lighthouse | 4 December 2019
Trinity Delta view: MaxCyte’s purple patch of signing non-exclusive clinical and commercialisation agreements continues, and with this latest deal it gets exposure to another novel cellular modality for treating oncology. There is increasing interest in the use of TILs to treat solid tumours, because of their ability to penetrate tumours and target novel neoantigens.
As with other similar deals, there is significant financial upside for MaxCyte linked to KSQ advancing its products through the clinic. It should also be noted that MaxCyte only committed to securing one commercial deal at the time of its IPO in March 2016. The company has now assembled a diversified portfolio of commercial deal partners, engineering various cell types in different ways to treat a variety of indications, highlighting the versatility of its enabling technology.
We value MaxCyte at £195m or 341p per share.
4 December 2019
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.
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