MaxCyte Share News (MXCT)

(Sharecast News) - Cell engineering platform technology company MaxCyte announced a strategic platform licence (SPL) agreement with Lyell Immunopharma - a clinical-stage T-cell reprogramming company - on Thursday.

The AIM-traded firm said the partnership aimed to leverage its 'Flow Electroporation' technology and 'ExPERT' platform to enhance the development and commercialisation of next-generation cell-based therapeutics and support innovative cell-based research.

Under the agreement, Lyell will gain non-exclusive clinical and commercial rights to use MaxCyte's Flow Electroporation technology and ExPERT platform.

MaxCyte said the technologies provide efficient and effective methods for the engineering of cells, which is crucial for the development of advanced cell-based therapies.

By using MaxCyte's platforms, Lyell was aiming to enhance its T cell reprogramming capabilities and further advance its clinical programmes.

In exchange for the rights, MaxCyte would receive platform licensing fees, clinical milestone payments, and sales-based payments from Lyell.

"At MaxCyte, our goal is to maximize the potential of cells to improve patients' lives, and it is through collaborations such as this that we can achieve success," said president and chief executive officer Doug Doerfler.

"We look forward to supporting Lyell Immunopharma in its development of solid tumour treatments for patients with unmet needs."

At 1337 BST, shares in MaxCyte were up 1.93% at 351.65p.

Reporting by Josh White for Sharecast.com.