(Sharecast News) - Cell engineering technology company MaxCyte announced a strategic platform licence with South Korea-based biotechnology specialist Curamys on Monday, which develops cell and gene therapies using cell fusion technology to treat rare intractable diseases, including Duchenne muscular dystrophy and amyotrophic lateral sclerosis.
The AIM-traded firm said that under the deal, Curamys would obtain non-exclusive clinical and commercial rights to use MaxCyte's 'Flow Electroporation' technology and 'ExPERT' platform.
In return, MaxCyte would receive platform licensing fees and programme-related revenue.
The board said Curamys is focussed on developing treatments for genetic and degenerative diseases through its specialised cell fusion technology, based on the concept that apoptotic or dying cells could be regenerated by fusing them with healthy, "normal" cells.
Cell fusion technology can function as a form of gene therapy when the normal copies of genes existing in treatment cells are transferred to dying cells, resulting in the development of treatments for genetic and rare intractable diseases at the cellular level.
"A recent report estimates that there are more than 10,000 distinct rare diseases affecting 400 million people around the world," said president and chief executive officer Doug Doerfler.
"Many of these diseases, like ALS and DMD, have few or no treatments.
"We are honoured to support Curamys' efforts to develop its cell-fusion technology for novel cell-based treatments that provide hope and new options to patients and their families."
At 1222 GMT, shares in MaxCyte were up 1.63% in London, at 500p.
Reporting by Josh White for Sharecast.com.