MaxCyte, Inc., a leading commercial cell-engineering company focused on providing enabling platform technologies to advance innovative cell-based research as well as next-generation cell therapeutic discovery, development and commercialization, today announces the signing of a strategic platform license (SPL) with LG Chem Ltd., a globally diversified chemical company established in petrochemical, advanced materials and bio-technology, aiming to create new value for its customers based on science.
Under the terms of the agreement, LG Chem obtains non-exclusive clinical and commercial rights to use MaxCyte’s Flow Electroporation® technology and ExPERT™ platform. In return, MaxCyte is entitled to receive platform licensing fees and program-related revenue.
Further accelerating its efforts for clinical development of global new drugs, LG Chem is strengthening its anti-cancer sector through advanced construction of cell drug platform technologies. LR19023, the next-generation CAR-T cell treatment, is currently in the pre-clinical stage and under development as a solid cancer therapeutic.
We are thrilled to partner with the global multinational company LG Chem to support their CAR T programs for solid tumors. This partnership represents our first SPL with a South Korean company and broadens our reach into Asia to provide advanced technologies that support the clinical and commercial development of engineered cell therapies, and ultimately change the lives of patients with cancer.”
Doug Doerfler, President and CEO, MaxCyte
MaxCyte’s ExPERT™ instrument portfolio is the next generation of leading, clinically-validated, electroporation technology for complex and scalable cell engineering. By delivering high transfection efficiency, seamless scalability and enhanced functionality, the ExPERT™ platform delivers the high-end performance essential to enabling the next wave of biological and cellular therapeutics. LG CHEM is MaxCyte’s first SPL in Asia and 17th overall, which generate pre-commercial milestone revenue and the vast majority of which include post-commercial revenue.