MaxCyte Acquires SeQure Dx for Enhanced Cell Engineering
Deal News | Jan 30, 2025 | Globenewswire
MaxCyte, Inc., a leader in cell engineering, announced its acquisition of SeQure Dx, a pioneer in on-target and off-target gene editing assessment for cell and gene therapies. This strategic move aims to enhance MaxCyte's offerings by integrating SeQure Dx's innovative assessment tools, improving the safety and efficacy of gene editing. The acquisition is expected to provide a significant boost to MaxCyte's revenue and position it as a comprehensive service provider in the fast-evolving cell and gene therapy landscape. SeQure Dx, a company co-founded by Dr. Keith Joung and headquartered in Waltham, Massachusetts, has developed comprehensive evaluation assays crucial for validating off-target risks in gene editing. The acquisition involves an initial cash payment of $4.5 million, with potential additional payments contingent on future revenue targets.
Sectors
- Biotechnology
- Healthcare
- Pharmaceuticals
Geography
- United States – MaxCyte is headquartered in Rockville, Maryland, and SeQure Dx is based in Waltham, Massachusetts, highlighting the geographical focus of this business transaction within the United States.
- United Kingdom – MaxCyte is listed on the London Stock Exchange, indicating a connection to the UK market.
Industry
- Biotechnology – The article discusses the acquisition of SeQure Dx, a company specializing in gene editing assessment services, by MaxCyte, Inc., a leader in cell engineering for cell therapeutics, reflecting the biotechnology industry's focus on advancing medical innovations.
- Healthcare – The companies involved are engaged in developing technologies that aid in the creation and safe implementation of cell and gene therapies, which are critical components of the healthcare sector.
- Pharmaceuticals – The acquisition supports the development and commercialization of cell therapies, a key area within the pharmaceutical industry, emphasizing on safety and precision of therapeutics.
Financials
- $4.5 million – Initial consideration paid by MaxCyte for the acquisition of SeQure Dx.
- $2.5 million – Potential additional contingent consideration based on SeQure Dx meeting certain revenue targets.
- $1.7 million – SeQure Dx's revenue incurred in 2024.
- $6.5 million – SeQure Dx's loss reported in 2024.
- $0.7 million – Net assets of SeQure Dx as of closing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MaxCyte, Inc. | Acquirer | Company | A cell-engineering focused company providing solutions for discovering, developing, and commercializing next-generation cell therapeutics. |
| SeQure Dx | Target Company | Company | A market leader in on-target and off-target editing assessment services for cell and gene therapies, now acquired by MaxCyte. |
| Maher Masoud | CEO | Person | CEO of MaxCyte, who announced the strategic acquisition of SeQure Dx. |
| Dr. Keith Joung | Co-Founder | Person | Co-Founder of SeQure Dx, who commented positively on the acquisition by MaxCyte. |
| Spectrum Science | US Media Relations | Company | Handles US media relations for MaxCyte. |
| Panmure Liberum | Nominated Adviser and Joint Corporate Broker | Company | Provides corporate broking services to MaxCyte. |
| ICR Healthcare | UK Investor Relations Adviser | Company | Handles UK IR advisory for MaxCyte. |