Full Press Release Details
ROCKVILLE, Md., Aug. 01, 2023 (GLOBE NEWSWIRE) -- 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 announced the signing of a strategic partnership with Prime Medicine, Inc., a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies.
Under the terms of the agreement, Prime Medicine obtains non-exclusive clinical and commercial rights to use MaxCyte’s Flow Electroporation® technology and ExPERT™ platform. In return, MaxCyte is entitled to receive annual license fees and program-related revenue.
“We are pleased to partner with Prime Medicine and support their breakthrough gene editing technology,” said Doug Doerfler, President and CEO of MaxCyte. “The company’s innovative vision and transformative scientific approach are clearly reshaping how genetic diseases are studied and ultimately will be treated.”
Prime Medicine is a leading biotechnology company dedicated to creating and delivering the next generation of gene editing therapies to patients. The Company is leveraging its proprietary Prime Editing platform, a versatile, precise and efficient gene editing technology, to develop a new class of differentiated, one-time, potentially curative genetic therapies. Designed to make only the right edit at the right position within a gene while minimizing unwanted DNA modifications, Prime Editors have the potential to repair almost all types of genetic mutations and work in many different tissues, organs and cell types.
MaxCyte’s ExPERT™ instrument portfolio is the next generation of leading, clinically-validated electroporation technology for complex and scalable cell engineering. By delivering high transfection efficiency, seamless scalability, and enhanced functionality, the ExPERT™ platform delivers the high-end performance essential to enabling the next wave of biological and cellular therapeutics. Prime Medicine is MaxCyte’s 23rd strategic partnership overall, each of which generates pre-commercial milestone revenue and the vast majority of which include sales-based payments.
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Nominated Adviser and Joint Corporate Broker
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Consilium Strategic Communications