MaxCyte commercial arm trading ahead of expectations; working on strategy for and future funding of

MaxCyte Inc (LON:MXCT) has said it expects financial results for its core life sciences business to be ahead of schedule, citing momentum in “transformational cell therapies” and milestone payments from licence partnerships.

In the same update, the group said it continues to work with the life sciences transactions specialist Locust Walk on a strategy for and future funding of the group’s CARMA business.

This subsidiary is developing immuno-oncology drugs using MaxCyte’s cell engineering technology and is aiming to become self-funding.

The company said enrolment and dosing in the existing CARMA no-preconditioning clinical study of MCY-M11, an early-stage drug candidate designed to treat ovarian cancer, is “continuing well”.

MaxCyte added that it has always operated a twin-strand approach. So, as well as being a drug developer it also licences out its know-how and kit to some of the world’s largest pharma and biotech companies.

A more comprehensive assessment of MaxCyte’s financial performance will be given on January 18, 2021, the group said.