MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT), a leading,
cell-engineering focused company providing enabling platform
technologies to advance the discovery, development and
commercialization of next-generation cell therapeutics and
innovative bioprocessing applications, today announced that Maher
Masoud has been named President and Chief Executive Officer of
MaxCyte, succeeding Doug Doerfler, who will retire as President and
Chief Executive Officer, effective January 1, 2024. Mr. Masoud,
currently the Company’s EVP, Head of Global Business Development
and Chief Counsel, will also serve as a director on MaxCyte’s Board
of Directors. Mr. Doerfler will step down from the Board of
Directors upon his retirement and will remain an advisor to the
Company.
Mr. Doerfler founded MaxCyte in 1999 and served
as CEO for 24 years, leading the Company from initial technology
concept through to the commercialization of its flow
electroporation technology. Mr. Doerfler’s team built MaxCyte into
a leading cell-engineering company with a significant number of
customers and partners, leveraging MaxCyte’s non-viral delivery
platform in their pre-clinical and clinical work. During his
tenure, Mr. Doerfler steered MaxCyte through numerous key events
including initial public offerings on the UK AIM Exchange and U.S.
NASDAQ Exchange, the development of the ExPERT instrument
portfolio, and supporting the approval of CASGEVY™, the first
non-viral cell therapy product approved by the FDA.
“Consistent with the Board’s succession planning
process, the Board identified Maher Masoud as a leader with a deep
understanding of our technology and the cell and gene therapy
industry who can continue to build on MaxCyte’s accomplishments.
Having worked closely with Maher over the past seven years, we are
confident in his abilities to assume the role of President and
Chief Executive Officer of MaxCyte," said Richard Douglas, chairman
of the Board. "On behalf of the Board, I would also like to
acknowledge Doug’s exceptional contributions to, and leadership of,
MaxCyte over the past 24 years. Throughout Doug’s tenure, MaxCyte
grew to become the partner of choice to leading cell and gene
therapy drug developers."
"It has been a privilege being part of MaxCyte's
exceptionally talented team over the past 24 years as we've worked
together to develop our proprietary flow electroporation
technology, building MaxCyte into the successful company it is
today," said Mr. Doerfler. "Maher has been instrumental in key
initiatives at MaxCyte, including building out our roster of
Strategic Platform Licenses. He has also played a key role across
the operating areas of the Company, including sales, marketing, and
business development. I am confident in the Board’s choice and
Maher’s ability to execute and drive MaxCyte’s continued success in
the years to come."
Mr. Masoud brings more than 25 years of
experience in the biopharmaceutical industry, including 17 years as
an attorney and general counsel, to his new role at MaxCyte. Mr.
Masoud has most recently served as EVP, Head of Global Business
Development and Chief Counsel at MaxCyte. During his tenure,
MaxCyte’s SPL partnership model grew to include 23 partners, as of
December 2023. Mr. Masoud started his biopharmaceutical career as a
research associate with Glen Research, a Maravai company, before
joining Human Genome Sciences as Director and Corporate Counsel,
overseeing legal activities for the company’s global clinical
trials, until its acquisition by GlaxoSmithKline. Prior to joining
MaxCyte, he oversaw the operations of six business subsidiaries at
Wellstat, a life science holding company. During his tenure at
Human Genome Sciences and Wellstat, Mr. Masoud supported the launch
of three FDA approved therapies, Benlysta®, Vistogard® and
Xuriden®. Mr. Masoud earned his Juris Doctor degree from Michigan
State University College of Law after completing his Bachelor of
Science degree in cell and molecular biology genetics from the
University of Maryland.
"l am honored by the opportunity to lead
MaxCyte. While working closely with Doug, the executive leadership
team, and the Board over the past seven years, MaxCyte has grown to
become the leading non-viral cell engineering company,” said Mr.
Masoud. “I firmly believe in the broad and growing commercial
opportunity for MaxCyte’s product line and the potential of our
partners to bring meaningful product therapies to market. I look
forward to leading our stellar team and continuing to build
long-term shareholder value.”
Updated 2023 Revenue
Guidance
MaxCyte is reiterating 2023 expected core
business revenue of $28-30 million, and the company now expects to
exceed prior SPL program-related guidance, with revenue of at least
$10 million. Core business revenue consists of sales and leases of
instrument and disposables to cell therapy and drug discovery
customers and excludes any milestone revenues under SPL
programs.
About MaxCyte
At MaxCyte, we pursue cell engineering
excellence to maximize the potential of cells to improve patients’
lives. We have spent more than 20 years honing our expertise by
building best-in-class platforms, perfecting the art of the
transfection workflow, and venturing beyond today’s processes to
innovate tomorrow’s solutions. Our ExPERT™ platform, which is based
on our Flow Electroporation® technology, has been designed to
support the rapidly expanding cell therapy market and can be
utilized across the continuum of the high-growth cell therapy
sector, from discovery and development through commercialization of
next-generation, cell-based medicines. The ExPERT family of
products includes: four instruments, the ATx™, STx™, GTx™ and VLx
™; a portfolio of proprietary related processing assemblies or
disposables; and software protocols, all supported by a robust
worldwide intellectual property portfolio. By providing our
partners with the right technology platform, as well as scientific,
technical, and regulatory support, we aim to guide them on their
journey to transform human health. Learn more at maxcyte.com and
follow us on Twitter and LinkedIn.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995, including but
not limited to, statements regarding the leadership transition and
statements regarding expected core business revenue and SPL
Program-related revenue for the year ending December 31, 2023. The
words "may," “might,” "will," "could," "would," "should," "expect,"
"plan," "anticipate," "intend," "believe," “expect,” "estimate,"
“seek,” "predict," “future,” "project," “prospect,” "potential,"
"continue," "target" and similar words or expressions are intended
to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Any
forward-looking statements in this press release are based on
management's current expectations and beliefs and are subject to a
number of risks, uncertainties and important factors that may cause
actual events or results to differ materially from those expressed
or implied by any forward-looking statements contained in this
press release, including, without limitation, risks associated with
the management transition, the timing and outcome of our customers’
ongoing and planned clinical trials; the adequacy of our cash
resources and availability of financing on commercially reasonable
terms; general market and economic conditions that may impact
investor confidence in the biopharmaceutical industry and affect
the amount of capital such investors provide to our current and
potential partners; and market acceptance and demand for our
technology and products. These and other risks and uncertainties
are described in greater detail in the section entitled "Risk
Factors" in our Annual Report on Form 10-K for the year ended
December 31, 2022, filed with the Securities and Exchange
Commission on March 15, 2023, as well as in discussions of
potential risks, uncertainties, and other important factors in our
most recent Quarterly report on Form 10-Q and the other filings
that we make with the Securities and Exchange Commission from time
to time. These documents are available through the Investor Menu,
Financials section, under “SEC Filings” on the Investors page of
our website at http://investors.maxcyte.com. Any forward-looking
statements represent our views only as of the date of this press
release and should not be relied upon as representing our views as
of any subsequent date. We explicitly disclaim any obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise. No representations or
warranties (expressed or implied) are made about the accuracy of
any such forward-looking statements.
MaxCyte Contacts:
US IR
Adviser Gilmartin Group David
Deuchler, CFA |
+1
415-937-5400 ir@maxcyte.com |
|
|
US Media
RelationsSeismicValerie Enes |
+1 408-497-8568 |
|
|
Nominated Adviser and
Joint Corporate Broker Panmure
Gordon Emma Earl / Freddy Crossley Corporate
Broking Rupert Dearden |
+44 (0)20 7886
2500 |
|
|
UK IR
AdviserICR ConsiliumMary-Jane
ElliottChris Welsh |
+44 (0)203 709
5700maxcyte@consilium-comms.com |
|
|
MaxCyte (NASDAQ:MXCT)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
MaxCyte (NASDAQ:MXCT)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024