MaxCyte, which provides cell engineering devices and services, filed on Friday with the SEC to raise up to $100 million in an initial public offering. The company is currently listed on London's AIM (MXCT).
MaxCyte's Flow Electroporation technology facilitates the complex engineering of a variety of cells. It uses electroporation, which is the process of applying an electric field to temporarily increase the permeability of the cell membrane, allowing intracellular delivery of molecules, such as genetic material and proteins. The company's flagship product, the ExPERT platform, can be used across the continuum of the rapidly-expanding cell therapy sector.
The Gaithersburg, MD-based company was founded in 1998 and booked $27 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol MXCT. MaxCyte filed confidentially on May 14, 2021. Cowen, Stifel, William Blair, BTIG, and Stephens Inc. are the joint bookrunners on the deal. No pricing terms were disclosed.
