(Alliance News) - MaxCyte Inc on Thursday said it has acquired SeQure Dx Inc, as it looks to improve its gene therapy testing process.
The Rockville, Maryland-based cell therapy developer paid an initial USD4.5 million for the Waltham, Massachusetts-based firm, focused on gene editing analytics.
MaxCyte will pay up to USD2.5 million more, if SeQure Dx "exceeds certain revenue targets". The acquisition was made on a debt-free basis, MaxCyte said, and was funded through existing resources.
SeQure Dx estimated it made USD1.7 million in revenue and a loss of USD6.5 million in 2024. MaxCyte is banking on stronger performance by the analytics company, which in March 2024 transitioned from development and licensing to contract services.
"This acquisition underscores MaxCyte's commitment to providing cell & gene therapy developers with cutting-edge tools to address complex cell engineering challenges," commented MaxCyte Chief Executive Maher Masoud.
MaxCyte shares were up 1.3% at 380.00 pence each on Thursday afternoon in London.
By Holly Munks, Alliance News reporter
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MaxCyte (MXCT)
