Full Press Release Details
MaxCyte Appoints Patrick J. Balthrop as Non-Executive
1 December, 2022: MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT), a leading, cell-engineering
focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation
cell-based therapeutics and to support innovative, cell-based research, today announces the appointment of Patrick J. Balthrop, Sr.
to the company's Board of Directors as non-executive director with immediate effect. Mr. Balthrop is also appointed as non-executive
member of the Nominating and Corporate Governance Committee.
Mr. Balthrop has more than 35 years of experience
in the healthcare sector, particularly in the life sciences segments of diagnostics, life science tools, and medical devices. He was CEO,
President, and Director of Luminex Corporation (NASDAQ: LMNX) for over 10 years, quadrupling the company's revenue in five years.
Prior to this he was President of Fisher Healthcare (then Fisher Scientific). He held positions at Abbott Laboratories over a period of
20 years including head of Abbott Vascular and Corporate VP of Worldwide Operations for Abbott Diagnostics.
Mr. Balthrop currently serves as Chairman
of the Board for both Agendia, Inc. and Discovery Life Sciences, and as Director of Pattern Biosciences. He has previously held board
positions at publicly listed life science companies, including Oxford Immunotec Global (NASDAQ: OXFD), and Personalis, Inc. (NASDAQ:
PSNL). Additionally, he serves as Executive Advisor to Water Street Healthcare Partners and is a Founding Principal of Apalachee Ventures.
Mr. Balthrop received an MBA from the J.L.
Kellogg Graduate School of Management at Northwestern University, and a B.S. in Biology from Spring Hill College.
"Patrick has an outstanding track-record
of building, growing, and optimizing businesses in the life sciences sector, and we are delighted and honored to welcome him to our Board,"
said Doug Doerfler, President and CEO of MaxCyte. "We look forward to drawing on his invaluable experience and insight as we continue
to advance the next-generation of cell therapy discovery, development and commercialization."
Upon appointment, Mr. Balthrop has been granted
100,000 options over common stock, $0.01 par, of the Company ("Options"). These Options vest over three (3) years,
with initial vesting of 1/3rd of the total after twelve (12) months, and the remainder vesting monthly over the following twenty-four
(24) months. The Options have an exercise price of $5.99, equal to the closing price of MaxCyte's stock on 30 November, 2022.
Additional Disclosures
The following information is disclosed pursuant
to Schedule Two paragraph (g) of the AIM Rules for Companies.
Mr Patrick James Balthrop, Sr. (aged 66)
holds or has held the following current and former directorships in the past five years:
| Current Directorships | Former Directorships in the past five years |
| Agendia NV | Chromacode, Inc |
| Apalachee Ventures, LLC | Oxford Immunotec Global Limited |
| Discovery Life Sciences, LLC | Oyster City Brewing Company, LLC |
| Made by the Water, LLC | Personalis, Inc |
| Pattern Bioscience, Inc |
Save as set out above, no further information
regarding Patrick Balthrop is required to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.
NOTIFICATION AND PUBLIC DISCLOSURE
OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Patrick Balthrop |
| 2 | Reason for the notification | |
| a) | Position/status | Non-Executive Directors |
| b) | Initial notification/Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | MaxCyte, Inc. |
| b) | LEI | 54930053YHXULRFCU991 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument | Options over common stock , $0.01 par, of the Company |
| b) | Identification Code | US57777K1060 |
| c) | Nature of the transaction | Grant of Options |
| d) | Price(s) and volume(s) | 100,000 Options at an exercise price of $5.99 |
| e) | Aggregated information - Aggregated volume - Price | N/A N/A N/A |
| f) | Date of the transaction | 30 November 2022 |
| g) | Place of the transaction | Nasdaq Stock Exchange |
MaxCyte is a leading,
cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization
of next-generation cell therapeutics and to support innovative, cell-based research. Over the past 20 years, we have developed and commercialized
our proprietary Flow Electroporation technology, which facilitates complex engineering of a wide variety of cells. Our ExPERT
platform, which is based on our Flow Electroporation technology, has been designed to support the rapidly expanding cell therapy market
and can be utilized across the continuum of the high-growth cell therapy sector, from discovery and development through commercialization
of next-generation, cell-based medicines. The ExPERT family of products includes: four instruments, the ATx , STx GTx
and VLx ; a portfolio of proprietary related processing assemblies or disposables; and software protocols, all supported by a robust
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