(Alliance News) - MaxCyte Inc on Tuesday said it appointed Douglas Swirsky as its new chief financial officer, effective immediately.
The Maryland, US-based cell-engineering focused company said Swirsky previously served as CFO and treasurer of gene therapy company AavantiBio Inc from February 2021 until it was acquired by Solid Biosciences Inc in December 2022. He initially joined AavantiBio as interim president in May 2020.
He served as CEO at Rexahn Pharmaceuticals Inc from 2018 to 2020 and CEO at biotechnology company GenVec Inc from 2013 until its sale in 2017, after joining the company in 2006 as CFO.
MaxCyte described Swirsky as a "seasoned financial leader", with over two decades of experience in the healthcare sector, including as a public company executive at Nasdaq-listed organizations.
"We are excited to welcome Douglas to MaxCyte where he brings exceptional financial, strategic, and operational experience in the life science and biopharmaceutical sectors, including extensive experience as a public company CFO," said MaxCyte CEO Doug Doerfler.
"His breadth of experience will play a pivotal role in MaxCyte's continued growth as an industry leading cell-engineering company. We look forward to leveraging his deep finance and industry knowledge as we execute on our strategic and financial goals."
Swirsky added: "I am honored to join MaxCyte's strong leadership team during this exciting period of growth at the company, and to support our mission to help drive the next generation of cell-based therapies.
"As CFO, I look forward to leading MaxCyte's financial operations to position the company for continued success, and to helping create long term shareholder value."
In mid-March, MaxCyte reported 2022 revenue of USD44.3 million, increasing 31% from USD33.9 million in 2021. Net loss was USD23.6 million, widening from USD19.1 million the year prior.
MaxCyte said it expects 2023 revenue growth of between 21% and 26%, including core business growth of between 20% and 25%.
Shares in MaxCyte were flat at 325.10 pence each in London on Monday morning.
By Greg Rosenvinge, Alliance News reporter
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MaxCyte (MXCT)