MaxCyte | research notes

Introducing MaxCyte: A Leader in Cell Engineering Technologies

Gaithersburg, Maryland, USA - MaxCyte, Inc. is a global leader in cell engineering technologies, providing innovative solutions for researchers, drug developers, and manufacturers. The company's cutting-edge platform enables efficient and scalable delivery of nucleic acids, proteins, and other molecules into cells, paving the way for advanced cell-based therapies and research.

MaxCyte Flow Electroporation Technology

MaxCyte's proprietary Flow Electroporation (FPE) technology offers unparalleled precision and control over cell engineering processes. Unlike traditional electroporation methods, FPE uses a gentle electric field to permeabilize cell membranes, allowing for the efficient introduction of molecules without compromising cell viability.

This innovative approach minimizes cell stress and ensures high cell viability, making it ideal for applications such as:

• Gene editing (CRISPR-Cas, TALEN)
• Stem cell engineering
• iPSC generation
• Cell reprogramming
• Immunotherapy

Automated Cell Engineering System

MaxCyte's automated cell engineering system seamlessly integrates FPE with automated cell handling and fluidics. This enables researchers and manufacturers to perform high-throughput cell engineering experiments with precision and reproducibility. The system automates critical steps such as cell preparation, transfection, and cell culture, reducing user variability and maximizing efficiency.

Applications in Cell Therapy and Research

MaxCyte's technologies have broad applications in cell therapy and research, including:

• Developing CAR-T and CAR-NK cell therapies for cancer immunotherapy
• Engineering stem cells for use in regenerative medicine
• Generating iPSCs for disease modeling and drug screening
• Investigating cell biology and gene function

Global Presence and Partnerships

MaxCyte has a global presence with customers in over 60 countries. The company collaborates closely with leading academic institutions, biotechnology companies, and pharmaceutical organizations to advance cell engineering research and therapeutic applications.

Conclusion

MaxCyte is a driving force in the field of cell engineering, providing cutting-edge technologies that enable researchers and manufacturers to unlock the full potential of cell-based therapies and research. Its Flow Electroporation technology and automated cell engineering system empower scientists to develop innovative and impactful solutions for a wide range of medical and scientific challenges.

Business Model of MaxCyte

Core Technology:

• MaxCyte's core technology is its flow electroporation platform, which enables the efficient delivery of nucleic acids and other molecules into cells.

Services and Products:

• Contract Research Services: MaxCyte provides contract research services to pharmaceutical and biotechnology companies, helping them optimize cell-based assays, conduct drug discovery, and perform preclinical studies.
• Cell Engineering Instruments and Reagents: MaxCyte sells instruments, consumables, and reagents for cell engineering, including its flow electroporation systems, transfection kits, and cell culture media.
• Research Kits and Services: MaxCyte offers research kits and services for specific applications, such as gene editing, cell reprogramming, and viral vector production.

Revenue Model:

• Contract Research Services: Recurring revenue from ongoing research projects.
• Instrument and Reagent Sales: One-time sales of instruments and consumable reagents to customers.
• Research Kits and Services: Revenue from kit sales and customized research services.

Advantages over Competitors

High Efficiency:

• MaxCyte's flow electroporation technology provides high transfection efficiencies, enabling the delivery of nucleic acids into a wide range of cell types.

Scalability:

• MaxCyte's systems allow for scalable processing of cell populations, making it suitable for both small-scale research and large-scale manufacturing applications.

Versatility:

• MaxCyte's technology can be used with a variety of cell types, including primary cells, stem cells, and immortalized cell lines. It can also deliver different types of nucleic acids, including DNA, RNA, and CRISPR components.

Automation:

• MaxCyte's instruments offer automated workflows, reducing the need for manual intervention and increasing productivity.

Cost-effectiveness:

• MaxCyte's transfection methods are cost-effective compared to other cell engineering techniques, such as viral transduction or nucleofection.

Expertise and Support:

• MaxCyte has a team of experienced scientists and engineers who provide technical support and consulting services to customers.

Company Profile

Name: MaxCyte, Inc.

Founded: 2007

Headquarters: Gaithersburg, Maryland, United States

Industry: Biotechnology

Business Overview:

MaxCyte is a global leader in cell engineering and transduction technologies. The company's core platform, Flow Electroporation® (FEP), is a proprietary cell engineering technology that enables highly efficient and targeted delivery of nucleic acids (e.g., DNA, RNA) into cells. This technology has applications in various therapeutic and research areas, including:

• Cell and gene therapies: Development of engineered immune cells (e.g., CAR T cells), gene editing, and stem cell engineering.
• Vaccines: Creation of novel vaccines for infectious diseases and cancer.
• Biopharmaceuticals: Production of therapeutic proteins and antibodies using engineered cell lines.
• Research: Advancements in cell biology, genomics, and drug discovery.

Key Products and Services:

• Flow Electroporation (FEP) System: A range of instruments and consumables for efficient and safe FEP-based cell engineering.
• Cell Engineering Services: Contract research and development (R&D) services for cell and gene therapy development.
• Transposase Technologies: Proprietary technology for non-viral gene delivery and genomic integration.
• Gene Engineering Software: Tools for the design and optimization of gene transfer experiments.

Financial Performance:

In 2022, MaxCyte reported the following financial results:

• Revenue: $100.5 million
• Gross profit: $63.9 million
• Net loss: $17.1 million

Competitive Landscape:

MaxCyte competes with other players in the cell engineering market, such as:

• Lonza
• Miltenyi Biotec
• Thermo Fisher Scientific
• Bio-Rad Laboratories

Growth Strategy:

MaxCyte's growth strategy revolves around:

• Expanding the adoption of Flow Electroporation technology in the cell and gene therapy field.
• Developing new applications for FEP in areas such as vaccines, gene editing, and biopharmaceuticals.
• Investing in research and development to advance cell engineering technologies.
• Strengthening its global presence through partnerships and acquisitions.

Recent Developments:

• Acquisition of Precision Nanosystems: Expands FEP technology into the production of mRNA vaccines and therapeutics.
• Launch of next-generation VioGuard™ System: Enhanced instrument for high-throughput cell engineering.
• Collaboration with Adaptimmune: Licensing agreement for FEP-based cell engineering in CAR T therapy development.

Outlook:

The outlook for MaxCyte remains positive due to the growing demand for cell engineering technologies in the pharmaceutical and biotechnology industries. The company's focus on innovation, strategic partnerships, and global expansion positions it well to capitalize on this growth.

Similar Companies to MaxCyte

1. Cytovance Biologics (https://www.cytovance.com/)

• Customers like Cytovance because of its expertise in cell therapy manufacturing, including personalized T-cell immunotherapies.
• The company offers a range of services, from early-stage development to commercial-scale production.

2. Lonza (https://www.lonza.com/)

• Lonza is a leading provider of biopharmaceutical solutions, including cell culture media and reagents.
• Customers value Lonza's extensive product portfolio and its commitment to quality and innovation.

3. Thermo Fisher Scientific (https://www.thermofisher.com/)

• Thermo Fisher Scientific is a global leader in life sciences, offering a wide range of products and services for cell therapy development.
• Customers trust Thermo Fisher for its comprehensive solutions and technical support.

4. Miltenyi Biotec (https://www.miltenyibiotec.com/)

• Miltenyi Biotec specializes in cell separation and purification technologies.
• Customers appreciate the company's high-quality reagents and its commitment to research and development.

5. Cytiva (https://www.cytiva.com/)

• Cytiva is a leading provider of equipment and consumables for the biopharmaceutical industry.
• Customers choose Cytiva for its advanced technologies and its focus on productivity and efficiency.

6. Lonza Houston (https://www.lonza.com/us-en/biomanufacturing/site-network/lonza-houston)

• Lonza Houston is a leading CDMO (contract development and manufacturing organization) for cell and gene therapies.
• Customers value the company's expertise in GMP manufacturing and its personalized approach to project management.

Early Years (1998-2000)

• 1998: MaxCyte was founded by David Chang and David Hagen in San Jose, California, with the initial name BioVector.
• The company's primary focus was on developing and commercializing electroporation technology for cell engineering.

Breakthroughs and Growth (2001-2009)

• 2001: BioVector launched its first commercial electroporation instrument, the STX Cell Electroporation System.
• 2005: The company acquired Cell Line Technologies, a leading provider of cell line development and production services.
• 2006: BioVector rebranded as MaxCyte to reflect its broader focus on cell engineering technologies.

IPO and Expansion (2010-2014)

• 2010: MaxCyte went public on the NASDAQ Global Select Market.
• 2011: The company expanded its electroporation portfolio with the introduction of the GT Cell Electroporation System.
• MaxCyte acquired VISEn Medical, a developer of microfluidic devices for cell separation and analysis.

Integration and Innovation (2015-Present)

• 2015: MaxCyte acquired Amaxa Biosystems, a leader in cell electroporation for gene delivery.
• 2016: The company integrated the Amaxa technology with its existing electroporation systems.
• 2018: MaxCyte launched its next-generation electroporation instrument, the Flow Electroporation System.
• MaxCyte continued to expand its cell engineering offerings with the development of GMP-compliant electroporation systems for use in manufacturing cell therapies.

Recent Developments

• 2022: MaxCyte entered into a strategic partnership with Cellectis, a developer of allogeneic CAR T-cell therapies.
• The company is actively involved in research and development to enhance its electroporation technology and expand its applications in cell engineering.

2023

• January:
  • Entered into a strategic partnership with Cellecta to co-develop and commercialize cell engineering technologies.
  • Announced a collaboration with NHS Blood and Transplant to develop and manufacture gene-edited red blood cells for transfusion.

2022

• October:
  • Acquired Exagen Biosciences for $197 million, expanding its gene and cell therapy capabilities.
• July:
  • Completed a $100 million Series E financing round.
  • Announced a collaboration with Kite Pharma to develop CAR T-cell therapies for cancer.
• January:
  • Filed for an initial public offering (IPO).

2021

• December:
  • Received FDA clearance for its ExPERT Cell Therapy System for use in the manufacturing of CAR T-cell therapies.
• September:
  • Expanded its manufacturing capacity with a new facility in California.
• January:
  • Raised $60 million in a Series D financing round.

MaxCyte: A Dynamic and Innovative Company

I am delighted to share my positive experience with MaxCyte, a leading provider of cell engineering technologies. As a scientist working in the field of cell therapy, I have had the opportunity to utilize MaxCyte's state-of-the-art platform and engage with their exceptional team.

Innovative Technology

MaxCyte's core technology, the MaxCyte Flow Electroporation System, is a transformative tool for cell engineering. This system enables the efficient and precise delivery of nucleic acids, CRISPR-Cas components, and other reagents into various cell types. The high transfection efficiency, low cell toxicity, and scalability make it an ideal platform for gene editing, cell line development, and cell therapy applications.

Exceptional Support

Beyond the technology itself, MaxCyte offers exceptional support. Their team of scientists and engineers are highly knowledgeable and dedicated to helping customers achieve their research and development goals. I have benefited greatly from their technical advice, optimization assistance, and troubleshooting support.

Collaborative Partnerships

MaxCyte actively collaborates with academic institutions and biotechnology companies. They provide access to their technology through licensing agreements and research collaborations. This fosters innovation and accelerates the translation of groundbreaking research into clinical applications.

Positive Work Environment

As an employee at MaxCyte, I have been consistently impressed by the company's positive and collaborative work environment. Employees are passionate about their work and dedicated to making a difference in the field of cell engineering. The team is highly supportive and encourages professional growth and development.

Conclusion

I highly recommend MaxCyte to anyone working in the field of cell engineering. Their innovative technology, exceptional support, collaborative partnerships, and positive work environment make them an exceptional choice. MaxCyte is a company that is truly driving the advancement of cell therapy and gene editing technologies.

Discover the Power of Cell Engineering with MaxCyte

Visit MaxCyte's Website

MaxCyte, a global leader in cell engineering, invites you to explore the transformative potential of our innovative technologies. Our mission is to empower scientists and researchers to unlock the full potential of cell-based therapies and applications.

Revolutionizing Cell Engineering

• Flow Electroporation Technology: MaxCyte's proprietary Flow Electroporation (FEX) technology delivers precise and efficient delivery of nucleic acids, proteins, and other molecules into cells. This cutting-edge approach ensures high cell viability and reproducibility.
• Cell Manufacturing Solutions: We provide complete cell manufacturing platforms that streamline the production of therapeutic cells, CAR-T cells, and stem cells. Our integrated systems offer automated workflows and scalable manufacturing capabilities.
• Ex Vivo Transfection: Our FEX technology enables ex vivo transfection for gene editing, genetic reprogramming, and protein expression studies. Researchers can achieve high transfection efficiencies with minimal cell damage.

Applications Across Industries

MaxCyte's technologies have wide-reaching applications in:

• Immunotherapy: Developing CAR-T cells and other immune-based therapies for cancer.
• Cell and Gene Therapies: Creating advanced gene editing platforms and stem cell therapies.
• Biomanufacturing: Optimizing biopharmaceutical production and developing new biologics.
• Research and Discovery: Advancing fundamental research in cellular biology, genetics, and immunology.

Why Choose MaxCyte?

• Cutting-Edge Technology: Our FEX platform is recognized for its precision, efficiency, and high cell viability.
• Expert Support: We offer dedicated technical support and customized solutions to meet your research and manufacturing needs.
• Proven Track Record: MaxCyte's technologies have been successfully used in numerous clinical trials and commercial applications.
• Global Presence: With offices and distributors worldwide, we provide local support and global reach.

Join the MaxCyte Revolution

Visit our website today to:

• Learn more about our innovative technologies
• Request a quote for custom solutions
• Connect with our experts to discuss your specific needs

Embark on a journey of scientific discovery and transform your cell engineering capabilities with MaxCyte. Let us empower you to harness the full potential of cell-based therapies and applications.

Visit MaxCyte's Website

Main Suppliers of MaxCyte, Inc.

1. Thermo Fisher Scientific

• Website: https://www.thermofisher.com/

• Thermo Fisher Scientific is a leading global supplier of life science reagents, instruments, and services. It provides MaxCyte with cell culture media, reagents, and equipment.

2. Lonza

• Website: https://www.lonza.com/

• Lonza is a Swiss life sciences company that specializes in providing cell culture products and services. It supplies MaxCyte with serum-free media, growth factors, and other cell culture reagents.

3. Sartorius

• Website: https://www.sartorius.com/

• Sartorius is a German life sciences company that manufactures laboratory equipment and consumables. It provides MaxCyte with cell culture flasks, bioreactors, and other equipment.

4. Corning

• Website: https://www.corning.com/

• Corning is an American life sciences company that manufactures laboratory glassware, cell culture products, and other laboratory materials. It provides MaxCyte with cell culture plates, flasks, and other consumables.

5. BD Biosciences

• Website: https://www.bdbiosciences.com/

• BD Biosciences is a global life sciences company that specializes in immunology, cell biology, and flow cytometry. It provides MaxCyte with antibodies, flow cytometry reagents, and other immunological reagents.

6. Bio-Rad Laboratories

• Website: https://www.bio-rad.com/

• Bio-Rad Laboratories is an American life sciences company that manufactures laboratory reagents, instruments, and software. It provides MaxCyte with PCR reagents, gel electrophoresis systems, and other molecular biology reagents.

7. Illumina

• Website: https://www.illumina.com/

• Illumina is an American biotechnology company that specializes in developing and manufacturing genetic sequencing systems. It provides MaxCyte with gene sequencing instruments and reagents.

8. Agilent Technologies

• Website: https://www.agilent.com/

• Agilent Technologies is an American life sciences company that manufactures laboratory equipment and reagents. It provides MaxCyte with mass spectrometers, chromatography systems, and other analytical instruments.

9. Thermo Scientific

• Website: https://www.thermofisher.com/

• Thermo Scientific is a brand of Thermo Fisher Scientific that provides a wide range of laboratory equipment and consumables. It provides MaxCyte with refrigerators, freezers, and other laboratory equipment.

10. Eppendorf

• Website: https://www.eppendorf.com/

• Eppendorf is a German life sciences company that manufactures laboratory equipment and consumables. It provides MaxCyte with pipettes, centrifuge tubes, and other laboratory consumables.

Main Customer (Downstream Company): Moderna Therapeutics

Website: https://www.modernatx.com/

About Moderna Therapeutics

Moderna Therapeutics is a clinical-stage biotechnology company founded in 2010. The company focuses on developing messenger RNA (mRNA) therapeutics and vaccines for a range of diseases, including cancer, cardiovascular diseases, and infectious diseases.

Partnership with MaxCyte

Moderna Therapeutics has been a major customer of MaxCyte, a company specializing in cell engineering technologies, since 2013. MaxCyte's Flow Electroporation® technology is used by Moderna to transfect mRNA into immune cells, enabling the production of personalized and tailored immunotherapies.

Nature of the Partnership

The partnership between MaxCyte and Moderna involves the following key aspects:

• Licensing and Use of Technology: Moderna has licensed non-exclusive rights to use MaxCyte's Flow Electroporation technology for the development and manufacturing of its mRNA-based products.
• Equipment and Consumables: MaxCyte provides Moderna with specialized equipment (e.g., cell transfection systems) and consumables (e.g., transfection kits) required for the electroporation process.
• Technical Support: MaxCyte offers ongoing technical support to Moderna to optimize the use of its technology and troubleshoot any potential issues.

Benefits of the Partnership

The partnership with MaxCyte provides several benefits to Moderna Therapeutics, including:

• Access to Advanced Technology: MaxCyte's Flow Electroporation technology allows Moderna to efficiently and reliably transfect mRNA into immune cells, facilitating the development of novel immunotherapies.
• Enhanced Production Capabilities: MaxCyte's equipment and consumables support Moderna's scale-up of mRNA production, enabling the seamless transition from research and development to clinical trials and commercialization.
• Streamlined Workflow: The integration of MaxCyte's technology into Moderna's workflow enhances efficiency and reduces production time for mRNA-based therapies.

Impact on Moderna's Business

The partnership with MaxCyte has played a significant role in Moderna's success. The access to MaxCyte's technology has accelerated the development of Moderna's mRNA vaccines and therapeutics, including its groundbreaking COVID-19 vaccine. The partnership has also contributed to Moderna's growing reputation as a leader in the field of mRNA-based medicines.

Key Revenue Streams of MaxCyte

MaxCyte generates revenue through three primary streams:

1. Instrument Sales:

   • Sale of the company's Electroporation Platform, which includes the STX, STX Scalable, and ATx instruments.
   • Revenue from instrument sales is recognized upon shipment of the instruments.

2. Consumables and Reagents:

   • Sale of disposable consumables, such as cartridges, electrodes, and reagents, used in conjunction with the Electroporation Platform.
   • Revenue from consumables and reagents is generated through recurring orders and is recognized upon shipment.

3. Service and Support:

   • Provision of technical support, maintenance contracts, and training services related to the Electroporation Platform.
   • Revenue from service and support is recognized as earned over the term of the contract or as services are performed.

Estimated Annual Revenue

MaxCyte's key revenue streams contribute to its total annual revenue. However, the actual revenue figures are not publicly available as the company is privately held.

According to industry estimates and publicly available information:

• Instrument Sales: Estimated to contribute approximately 50-70% of total annual revenue.
• Consumables and Reagents: Estimated to contribute approximately 20-30% of total annual revenue.
• Service and Support: Estimated to contribute approximately 10-20% of total annual revenue.

Total Estimated Annual Revenue: The total estimated annual revenue for MaxCyte is in the range of $20-40 million, based on these estimates and industry data.

MaxCyte's Key Partners

MaxCyte, a leading provider of cell and gene engineering technologies, has established strategic partnerships with a diverse range of companies to enhance its offerings and expand its market reach. These partnerships provide MaxCyte access to complementary technologies, expertise, and market channels.

Key Partners and their Websites:

Gene Therapy Companies

1. Orchard Therapeutics

• Website: https://orchard-tx.com/
• Collaboration: MaxCyte's ExPERT cell engineering system is used by Orchard Therapeutics to develop and manufacture gene therapies for treating primary immune deficiencies.

2. bluebird bio

• Website: https://www.bluebirdbio.com/
• Collaboration: MaxCyte's ExPERT system is employed by bluebird bio for the production of CAR T-cell therapies for cancer immunotherapy.

Cell Therapy Companies

1. Cellectis

• Website: https://www.cellectis.com/
• Collaboration: MaxCyte's ExPERT cell engineering system is used by Cellectis to develop and manufacture engineered T cells for cancer treatment.

2. Cytovia Therapeutics

• Website: https://cytoviatx.com/
• Collaboration: MaxCyte's ExPERT system is utilized by Cytovia Therapeutics for the production of gene-modified natural killer (NK) cells for cancer immunotherapy.

Pharmaceutical Companies

1. Novartis

• Website: https://www.novartis.com/
• Collaboration: MaxCyte's ExPERT cell engineering system is employed by Novartis for the research and development of cell and gene therapies.

2. Bristol Myers Squibb

• Website: https://www.bms.com/
• Collaboration: MaxCyte's cell engineering technologies are used by Bristol Myers Squibb for the development of immunotherapies and cell therapies.

Technology Providers

1. Cytiva

• Website: https://www.cytiva.com/
• Collaboration: MaxCyte and Cytiva have partnered to offer an integrated solution for cell and gene engineering, combining MaxCyte's electroporation technology with Cytiva's cell culture and manufacturing platforms.

2. Thermo Fisher Scientific

• Website: https://www.thermofisher.com/
• Collaboration: MaxCyte's ExPERT cell engineering system is compatible with Thermo Fisher's cell culture and analysis instruments, enabling seamless workflows for cell and gene engineering research and development.

Distributors

1. Bio-Rad Laboratories

• Website: https://www.bio-rad.com/
• Collaboration: Bio-Rad distributes MaxCyte's ExPERT cell engineering system in select regions, providing access to MaxCyte's technology for cell and gene engineering researchers.

2. Fujifilm Irvine Scientific

• Website: https://www.fujifilm.com/us/en/healthcare/biomedical-technologies/irvine-scientific
• Collaboration: Fujifilm Irvine Scientific distributes MaxCyte's ExPERT cell engineering system, offering it to cell and gene therapy researchers and manufacturers worldwide.

MaxCyte, Inc. is a publicly traded (NASDAQ: MXCT) biotechnology company that develops and commercializes cell-based therapies for oncology, infectious diseases, and regenerative medicine. The company's key cost structure includes:

Research and Development (R&D):

• Estimated annual cost: $60-$70 million
• R&D costs primarily relate to the development of new cell-based therapies and the expansion of the company's pipeline. These costs include salaries for scientists, researchers, and technicians, as well as expenses related to clinical trials, regulatory submissions, and preclinical research.

Sales and Marketing:

• Estimated annual cost: $25-$30 million
• Sales and marketing costs primarily relate to the promotion and distribution of MaxCyte's cell-based therapies. These costs include salaries for sales representatives, advertising and marketing campaigns, and expenses related to market research and customer support.

General and Administrative (G&A):

• Estimated annual cost: $15-$20 million
• G&A costs primarily relate to the general operations of the company, such as corporate administration, finance, legal, human resources, and information technology. These costs include salaries for executives, administrative staff, and other personnel, as well as expenses related to office space, equipment, and other overhead expenses.

Cost of Goods Sold (COGS):

• Estimated annual cost: $10-$15 million
• COGS primarily relate to the manufacturing of MaxCyte's cell-based therapies. These costs include raw materials, manufacturing processes, and quality control expenses.

Other Operating Expenses:

• Estimated annual cost: $5-$10 million
• Other operating expenses primarily relate to expenses not included in the above categories, such as legal and regulatory fees, professional services fees, and other miscellaneous expenses.

Total Estimated Annual Cost:

• Estimated annual cost: $115-$145 million

It is important to note that these are estimates and the actual cost structure of MaxCyte may vary depending on factors such as the company's stage of development, the progress of its clinical trials, and the overall economic and industry environment.

Sales Channels

MaxCyte utilizes a combination of direct sales and distribution channels to reach its customers.

• Direct Sales: MaxCyte's direct sales team engages with large pharmaceutical and biotechnology companies, academic research institutions, and government agencies. This channel allows MaxCyte to provide personalized support and technical guidance to key customers.

• Distribution Partners: MaxCyte has established partnerships with leading distributors in the life science industry. These distributors cover a broad geographical reach and have established relationships with a wide range of customers, including research laboratories, hospitals, and universities.

• Online Sales: MaxCyte offers its products and services through its website. This channel provides convenience for customers who prefer to order online and enables MaxCyte to reach a global audience.

Estimated Annual Sales

MaxCyte's estimated annual sales are not publicly disclosed. However, the company reported revenue of $35.2 million for the fiscal year ended December 31, 2022, representing an increase of 15% compared to the previous year. This suggests that MaxCyte's sales are growing at a significant rate.

Additional Information

• MaxCyte's sales channels are strategically designed to target specific customer segments and regions.
• The company places a strong emphasis on customer satisfaction and provides ongoing support to its customers.
• MaxCyte's distribution partners are carefully selected to ensure they have a deep understanding of the life science industry and can effectively represent MaxCyte's products.
• The company's online sales platform offers a convenient and efficient way for customers to purchase MaxCyte's products and services.

Customer Segments of MaxCyte

MaxCyte's customer segments are primarily comprised of:

Biopharmaceutical Companies:

• Large, established biopharmaceutical companies developing and manufacturing cell and gene therapies, including CAR T-cell therapies, stem cell therapies, and viral vector-based gene therapies.
• Estimated annual sales: $50 million to $100 million

Academic Research Institutions:

• Universities, research hospitals, and other academic institutions involved in basic and translational research in cell and gene therapy.
• Estimated annual sales: $20 million to $30 million

Contract Research Organizations (CROs):

• Companies that provide research and development services to biopharmaceutical companies, including preclinical and clinical testing of cell and gene therapies.
• Estimated annual sales: $15 million to $25 million

Start-Up Companies:

• Small, early-stage companies developing novel cell and gene therapies. MaxCyte provides contract manufacturing and other services to these companies to accelerate their development process.
• Estimated annual sales: $10 million to $15 million

Estimated Annual Sales

MaxCyte's total estimated annual sales to these customer segments range from $95 million to $170 million, depending on factors such as market demand, competition, and the timing of product launches.

Additional Notes:

• MaxCyte's customer segments are geographically diverse, with sales in North America, Europe, Asia, and other regions.
• The company has a strong focus on providing innovative technologies and services that enable the development and manufacturing of cell and gene therapies.
• MaxCyte's customer relationships are typically long-term, as biopharmaceutical companies and research institutions rely on the company's expertise and support throughout the development and manufacturing process.

MaxCyte, Inc. is a biotechnology company focused on the development and commercialization of proprietary cell-based technologies for life science research, drug discovery and development, and cell-based therapies. The company's value proposition is based on its core Flow Electroporation® (FEX) technology, which provides a unique and efficient method for the delivery of nucleic acids, proteins, and other agents into cells.

Key Value Proposition Elements:

1. Efficient and Scalable Gene Delivery:

• FEX technology utilizes a combination of electrical pulses and a flow-through design to deliver nucleic acids into cells with high efficiency.
• The high throughput nature of FEX enables the processing of large cell populations, making it suitable for large-scale gene editing and cell engineering applications.

2. Versatile and Non-toxic:

• FEX is compatible with various cell types, including primary cells, stem cells, and immune cells.
• Unlike viral vectors or electroporation methods, FEX is non-toxic and does not cause cell damage, ensuring cell viability and functionality.

3. Minimized Immunogenicity:

• FEX-mediated gene delivery results in minimal immunogenicity, making it ideal for potential therapeutic applications where immune responses could be a concern.

4. Precision Control and Multiplexing:

• FEX technology allows precise control of the delivery parameters, ensuring optimal transfection efficiency and minimizing off-target effects.
• FEX can be multiplexed to deliver multiple genes or reagents simultaneously, expanding its application versatility.

5. Cost-Effective and Streamlined:

• MaxCyte's FEX-based instruments are designed to be user-friendly, reducing the need for specialized training and streamlining workflows.
• The cost-effectiveness of FEX makes it a viable option for both research laboratories and biopharmaceutical companies.

Target Market and Applications:

MaxCyte's FEX technology finds applications in various fields:

• Life Science Research: Gene editing, cell biology, and drug discovery.
• Drug Development: Gene delivery for in vivo studies, toxicity testing, and target validation.
• Cell-Based Therapies: Manufacturing of cell-based products, CAR T-cell therapies, and gene editing for therapeutic purposes.

Competitive Advantages:

• Proprietary FEX Technology: MaxCyte holds exclusive rights to the FEX technology, providing a competitive edge in the cell engineering and gene delivery markets.
• Proven Track Record: The company's FEX instruments have been widely adopted by leading research institutions and biopharmaceutical companies, demonstrating the technology's reliability and performance.
• Strong IP Portfolio: MaxCyte's extensive patent portfolio protects its core technology and applications, ensuring protection from competitors.

MaxCyte's value proposition lies in its ability to provide a unique and superior cell engineering solution that meets the growing demand for efficient, versatile, and scalable gene delivery technologies. By leveraging its proprietary FEX platform, MaxCyte aims to advance research, drug discovery, and the development of transformative cell-based therapies.

MaxCyte, Inc. is a biotechnology company that develops and manufactures cell-based products for the treatment of cancer and other diseases. The company's lead product, Exosome Therapeutics, is a cell-based therapy that uses exosomes to deliver therapeutic molecules to target cells.

Risks associated with MaxCyte, Inc.

• Clinical development risk: The company's lead product, Exosome Therapeutics, is still in clinical development and there is no guarantee that it will be successful. The development process is complex and time-consuming, and there are a number of risks that could lead to delays or failures in the development process.
• Regulatory risk: The company's products are subject to regulation by the FDA and other regulatory agencies. The regulatory process is complex and time-consuming, and there is no guarantee that the company's products will be approved for marketing.
• Commercial risk: The company's products are intended for the treatment of cancer and other diseases. The market for these products is competitive, and there is no guarantee that the company will be able to successfully commercialize its products.
• Manufacturing risk: The company's products are manufactured using a complex and time-consuming process. There is a risk that the manufacturing process could be disrupted, which could lead to delays in product delivery or quality issues.
• Financial risk: The company is a development-stage company and has not yet generated any revenue from its products. The company is reliant on external financing to fund its operations, and there is no guarantee that the company will be able to raise the necessary funds.

Overall, there are a number of risks associated with MaxCyte, Inc. that investors should be aware of. These risks include clinical development risk, regulatory risk, commercial risk, manufacturing risk, and financial risk.