1st Feb 2022 12:00
(Alliance News) - MaxCyte Inc shares surged on Tuesday after it said it has signed a strategic platform license with Intima Bioscience Inc.
Shares were up 6.7% at 492.94 pence each at midday on Tuesday in London.
The Maryland, US-based biotechnology company said stage gene and cell therapy focused Intima plans to use its Flow Electroporation technology and ExPERT platform to accelerate the development of the company's solid tumour cell therapy candidates.
Under the terms of the agreement, the New York and Cambridge, UK-based company has received non-exclusive clinical and commercial rights to use MaxCyte's technology and platform.
In return, MaxCyte is entitled to platform licensing fees and program-related milestone payments.
"We are proud to be working with Intima, a cell therapy leader leveraging the unique power of genetically engineered tumour-infiltrating lymphocytes. This relationship represents an important achievement for MaxCyte as it expands the use of our next-generation technology platform to support engineering in additional novel cell types," President & Chief Executive Doug Doerfler commented.
By Abby Amoakuh; [email protected]
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