MaxCyte acquires SeQure Dx to bolster gene therapy services

LONDON: MaxCyte, Inc. (Nasdaq: MXCT; LSE: MXCT), a leading cell-engineering company, announced the acquisition of SeQure Dx, a market leader in editing assessment services for cell and gene therapies. The acquisition aims to enhance MaxCyte’s offerings in both ex vivo and in vivo cell and gene therapy development.

The acquisition will expand MaxCyte’s service portfolio, allowing the company to integrate SeQure Dx’s expertise in editing confirmation and off-target effects assessment. This strategic move is expected to contribute to MaxCyte’s revenue growth and strengthen its position in the cell and gene therapy market.

“This acquisition underscores MaxCyte’s commitment to providing CGT developers with cutting-edge tools to address complex cell engineering challenges,” said Maher Masoud, CEO of MaxCyte.

“Integrating SeQure Dx into MaxCyte’s portfolio will allow us to leverage our scientific support and complementary offerings to drive advancements in the safety and precision of cell therapies.”

SeQure Dx, headquartered in Waltham, Massachusetts, was co-founded by Dr. Keith Joung, chair in pathology at Massachusetts General Hospital and professor at Harvard Medical School. The company emerged in late 2022 with a comprehensive portfolio of evaluation assays for off-target risk validation and candidate optimization in cell and gene therapies.

“I am thrilled that SeQure Dx is joining forces with MaxCyte,” said Keith Joung, Co-Founder of SeQure Dx. “Defining and reducing potential off-target effects is essential for the advancement of safe and effective gene editing.”

MaxCyte paid an initial consideration of $4.5 million in cash for SeQure Dx’s issued share capital, with an additional amount of up to $2.5 million contingent on revenue targets. SeQure Dx reported revenue of approximately $1.7 million and a loss of about $6.5 million in 2024, with net assets of $0.7 million at the time of closing.

MaxCyte expects SeQure Dx’s transition from assay development to a contract service provider to improve revenue and operational efficiencies.