MaxCyte Expands with SeQure Dx Acquisition in Strategic Move
Deal News | Jan 30, 2025 | Digitalis Ventures LLC
MaxCyte, Inc., a leading company in cell engineering, announced its acquisition of SeQure Dx, a pioneer in on-target and off-target editing assessment for cell and gene therapies. The deal, finalized on January 30, 2025, is strategic for MaxCyte's expansion into comprehensive services for ex vivo and in vivo cell and gene therapy developers. SeQure Dx's expertise in precise risk assessment aligns with MaxCyte's mission of enhancing safety and precision in cell engineering workflows. Financially, MaxCyte paid $4.5 million for SeQure Dx's entire issued share capital with contingent consideration of up to $2.5 million. SeQure Dx reported $1.7 million in revenue for most of 2024 but at a loss of $6.5 million. Post-acquisition, SeQure Dx aims to innovate assay development further and improve revenues by aligning with MaxCyte's commercial infrastructure and synergistic opportunities.
Sectors
- Biotechnology
- Healthcare
Geography
- United States – Both MaxCyte and SeQure Dx are headquartered in the U.S., specifically in Maryland and Massachusetts, respectively, making it a central geography in the acquisition.
Industry
- Biotechnology – The core industry involved in the article as it pertains to cell and gene therapies, which are pivotal aspects of biotechnology.
- Healthcare – The article discusses advancements in cell engineering aimed at developing therapies, which fall under the healthcare sector dedicated to improving patient outcomes.
Financials
- $4.5 million – Initial cash consideration paid by MaxCyte for the acquisition of SeQure Dx.
- $2.5 million – Contingent consideration dependent on SeQure Dx meeting certain revenue targets.
- $1.7 million – Revenue generated by SeQure Dx in 2024 based on unaudited results.
- $6.5 million – Loss incurred by SeQure Dx in 2024.
- $0.7 million – Net assets of SeQure Dx at the time of acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MaxCyte, Inc. | Acquiring Company | Company | A leading cell-engineering company focused on advancing cell-based therapeutics. |
| SeQure Dx | Target Company | Company | A market leader specializing in on-target and off-target editing assessment services for cell and gene therapies. |
| Digitalis Ventures LLC | PE Firm | Company | A venture firm involved in the backing of scientific and technological innovations in healthcare. |
| Keith Joung | Co-Founder of SeQure Dx | Person | Co-founder of SeQure Dx, involved in groundbreaking work in gene editing safety analytics. |
| Maher Masoud | CEO of MaxCyte | Person | Chief Executive Officer of MaxCyte, leading their strategic growth initiatives. |
| Gilmartin Group | US IR Adviser | Company | Advising MaxCyte on investor relations in the United States. |
| Spectrum Science | US Media Relations | Company | Responsible for handling MaxCyte's media relations in the U.S. |
| Panmure Liberum | Nominated Adviser and Joint Corporate Broker | Company | Advisory role handling corporate brokering for MaxCyte. |
| ICR Healthcare | UK IR Adviser | Company | Advising MaxCyte on investor relations in the United Kingdom. |