StockMarketWire.com - Cell-based therapy developer MaxCyte said it expected its first-half revenue to rise about 30%, reflecting increased adoption and usage of its products by its client based.

MaxCyte said the growth in sales represented an acceleration on the growth rate seen in the first half of the previous financial year, despite the impact of Covid-19.

The company said that during the firs half and into July, it continued to advance partnerships in cell therapy with the addition of new agreements with Allogene Therapeutics, Caribou Biosciences and Apeiron Biologics.

The aggregate potential milestone payments from those relationships along with MaxCyte's previously signed commercial agreements were in excess of $800m.

'We are pleased to have delivered positive momentum across all aspects of our business in the first half of 2020 and into July,' chief executive Doug Doerfler said.

'We remain mindful of the impact of the Covid-19 global pandemic and continue to work diligently to mitigate any potential restrictions and delays in our operations and to protect our team, their families, our customers and patients.'

'We remain confident in our prospects for long-term growth fuelled by our next-generation gene-editing enabling technology and a resilient business model.'

'We look forward to providing a more detailed update with our half-year results in September.'


At 8:56am: [LON:MXCT] MaxCyte Inc share price was +7p at 228p



Story provided by StockMarketWire.com