London Stock Exchange today welcomed MaxCyte, Inc on to AIM
The AIM Market of London Stock Exchange today welcomed MaxCyte, Inc. (“MaxCyte”) as dealings commenced in its Common Stock under the symbol “MXCT” following an institutional placing.
MaxCyte is a leader in flow electroporation technology enabling fast, reliable and scalable cell engineering to drive the research and clinical development of a new generation of cell-based medicines. MaxCyte develops and supplies its technology and instrumentation to biotechnology and pharmaceutical firms engaged in cell therapy, drug discovery and development, biomanufacturing, gene editing and immuno-oncology. Additionally, MaxCyte’s proprietary platform in immuno-oncology, CARMA, is being developed to deliver a validated non-viral approach to CAR therapies in a number of cancer indications, including solid tumors.
Doug Doerfler, Chief Executive Officer, commented: “We are excited to bring MaxCyte to the AIM market today. The successful completion of our IPO will permit MaxCyte to continue to build enhancements to our proprietary cell engineering technology and support our Partners’ ongoing and future needs. It will also permit MaxCyte to continue to make investments into, and demonstrate commercial proof-of-concept for the use of, MaxCyte’s technology platform in new and exciting applications in drug discovery and development, biomanufacturing, cell therapy, gene editing and immuno-oncology. Specifically, the net proceeds from the IPO Placing will fund pre-clinical and human clinical trials for our patented immuno-oncology platform, CARMA.”
The Group raised £10.0 million through the placing and subscription of a total of 14,285,714 shares of new Common Stock at a price of 70 pence per share. On admission, MaxCyte will have a market capitalisation of £30.4m at the placing price. Panmure Gordon acted as Financial Adviser, Nominated Adviser and sole Broker to MaxCyte.