MaxCyte Share News (MXCT)

LONDON (Alliance News) - MaxCyte Inc on Monday announced the launch of its new ExPERT technology platform for use in cellular engineering.

MaxCyte also noted that its business had produced USD16.7 million of revenue in 2018, up 19% from USD14.0 million in 2017. It will publish its annual results for 2018 on April 24.

MaxCyte's technology is used for cellular engineering, where living cells are altered in some way to make them more useful. This has a wide range of applications in medicine.

MaxCyte's particular focus is on cell therapy and gene editing. The ExPERT platform includes instruments which use MaxCyte's Flow Electroporation technology - technology that allows DNA and other molecules to be placed into a cell.

Having multiple instruments within the platform means that ExPERT can be used to take a cell therapy treatment from a concept all the way through to commercialisation.

Brad Calvin, executive vice president of global commercial operations at MaxCyte, said: "Creating cellular editing platforms standardized on a single, scalable, high performance technology can assist the industry in accelerating timelines, reducing costs and achieving milestones critical to the translation of this promising new generation of cellular therapies."

MaxCyte Chief Executive Doug Doerfler said: "We are committed to continually investing in our platform and delivering the essential tools, product features and technology performance that are critical to the advancement of promising new cellular therapeutics, which provide hope to many patients with previously incurable or life-threatening diseases."

Shares in MaxCyte were down 0.3% at 187.00 pence on Monday.