Maxcyte, Inc. · NASDAQ:MXCT
Maxcyte — H1 2020 Earnings Presentation
24 slides from Maxcyte's earnings presentation, September 2020
Slide 1: Driving the next generation of cell-based therapies
Driving the next generation of cell-based therapies Doug Doerfler, Chief Executive Officer Amanda Murphy, Chief Financial Officer Ron Holtz, Chief Accounting Officer September 2020 © 2020 MaxCyte, Inc. All Rights Reserved.
Slide 2: Disclaimer
Disclaimer The content of this document (the “Presentation”) has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”), as amended. Reliance on this document for the purpose of engaging in any investment activity may expose an individual
Slide 3: Global partner of choice for non-viral cell engineering technology
Global partner of choice for non-viral cell engineering technology $800m+ milestone potential • Leading global cell therapy company driving next generation of cell-based medicines based on proprietary flow electroporation technology • High efficiency, reproducible, scalable non-viral cell engineerin
Slide 4: Executive leadership with broad depth of experience
Executive leadership with broad depth of experience Doug Doerfler Maher Masoud President and Chief Executive Officer Executive Vice President and General Counsel Amanda Murphy Thomas M. Ross Chief Financial Officer Executive Vice President, Global Sales Ron Holtz Steve Nardi Chief Accounting Officer
Slide 5: Strength in opportunity from two high-value life science markets
MaxCyte: Strength in opportunity from two high-value life science markets DRUG DISCOVERY & DEVELOPMENT CELL THERAPY CELLS TO DISCOVER DRUGS CELLS AS DRUGS ST AT GT Blue-chip client base includes 20 of Licenses granted to 120+ cell therapy the top 25 and all of the top ten programs, 90+ for clinical
Slide 6: Well positioned to capitalize on rapidly growing cell therapy market
Well positioned to capitalize on rapidly growing cell therapy market Key Constraints: • Viral vector availability/development costs Cell Therapy Market Growth • Continuing safety concerns Drivers: • Explosive CAR-T growth • Supply chain challenges • Rapid gene editing adoption • Patient access MaxCy
Slide 7: MaxCyte solution: ExPERT platform is more than just a technology
MaxCyte solution: ExPERT™ platform is more than just a technology Supporting our partners in achieving their goals Enables: Field Support o Accelerated path to the clinic o Reduced program risk Research & Development o Reduced unnecessary cash burn Regulatory o Faster path to key company milestones
Slide 8: Partner of choice for complex cellular engineering
MaxCyte: Partner of choice for complex cellular engineering • Continued expansion of cell therapy partnerships with leading industry innovators • Multi-target clinical/commercial deals include Kite (a Gilead company), Precision Biosciences, CRISPR Therapeutics, and Editas Medicine • 2020 commercial
Slide 9: Value creation from clinical / commercial licenses
Value creation from clinical / commercial licenses • Partners integrate MaxCyte technology to solve Cumulative Potential Pre-CML Milestones their cell engineering challenges for clinical products • Licensing deals include significant development $800m USD milestones and high-value participation in f
Slide 10: MaxCyte-enabled cell therapy clinical trials
MaxCyte-enabled cell therapy clinical trials GENETIC DISEASES INFECTIOUS DISEASES Sickle Cell Disease HIV Beta Thalassemia SOLID TUMORS HEME MALIGNANCIES Pancreatic Cancer Acute Myeloid Leukemia Ovarian Cancer Acute Lymphoblastic Leukemia Neuroblastoma Chronic Lymphocytic Leukemia/SLL Melanoma Pedia
Slide 11: Financials
Financials September 2020 11
Slide 12: H1 2020 financial highlights
H1 2020 financial highlights • Robust revenue growth in H1 2020: $10.9m revenue, 30% yr/yr growth • Strong growth in clinical milestones drove 2.4% yr/yr improvement in gross margins to ~90% • Operating expenses down 4.2% as COVID limited operating expenses to $15.6M - CARMA investment $5.2m ($6.6m
Slide 13: Solid five-year financial results
Solid five-year financial results 2015-2019 Revenue Instruments Placed Partnered Programs (USD ,000s) Rapid Growth of Licensed Programs Rapid Growth of Instrument Placements 5 Year Revenue CAGR 25% Total Commercial 2019 320 + 2019 70 + 100 + Licenses* 2019 8 $21,620 2018 250 + 2018 35 + 70 + 3 2018
Slide 14: CARMA Cell Therapies
CARMA™ CELL THERAPIES A subsidiary of MaxCyte, Inc. mRNA cell therapies Corporate Overview © 2020 MaxCyte, Inc. All Rights Reserved..
Slide 15: CARMA Background
CARMA Background Wholly-owned MaxCyte subsidiary seeking independent financing Conceived of non-viral $33M* MXCT investment Seeking independent mRNA-based approach to to date, to: financing for CARMA to resolve emerging • build CARMA platform/IP, establish as separate • Discover/develop MCY-M11 chal
Slide 16: CARMA: Novel mRNA-based CAR therapeutic platform
CARMA: Novel mRNA-based CAR therapeutic platform Autologous mRNA-based Lead Candidate: Innovative and Novel Streamlined CAR Therapies MCY-M11 Manufacturing Non-viral, transient expression Phase I dose-escalation trial: approach: potential for less toxicity, 1-day manufacturing for faster Designed to
Slide 17: CARMA Unique Organizational Capabilities
Unique Organizational Capabilities Ready-to-go with strong team, manufacturing, and business operations in place Dhana Chinnasamy, PhD From concept to clinical manufacturing VP, Non-Clinical and Translational Studies • Significant internal flow electroporation expertise • Joined MaxCyte 2019 • Estab
Slide 18: CARMA therapeutic platform
CARMA® therapeutic platform Clinical-stage, non-viral, mRNA-based cell therapy platform to treat cancer Transfection of mRNA into fresh (i.e., unexpanded, unselected) cells provides a simple, rapid to manufacture, dose controllable product Patient Apheresis PBMC* mRNA CAR Aliquot and Multiple Produc
Slide 19: Proof of concept advanced through world-class partners
Proof of concept advanced through world-class partners 9 independent clinical trials involving multiple targets and 20+ patients, including in several solid tumor types, are using or have used MaxCyte transfected mRNA September 2020 19
Slide 20: CARMA key development milestones
CARMA key development milestones Advancing lead MCY-M11 program in multiple Indications and a pipeline of 3 novel programs 2020 2021 2022 2023 2024 Phase I (IP) No Preconditioning MCY-M11 Ovarian Cancer Phase I Preconditioning (IP) Mesothelioma With Preconditioning, Multiple Cycles Other Solid Tumor
Slide 21: CARMA: Unique value proposition and partnership potential
CARMA: Unique value proposition and partnership potential Partnerships Potential to advance a broad range of first-in-class RNA-based cell therapies Platform • Global or regional Maximize ✓ MCY-M11 implementation of our RNA approach Lead cell therapy MCY-M11, in clinic ✓ New targets and expand Pipel
Slide 22: Summary and outlook for 2020 and beyond
Summary and outlook for 2020 and beyond Consistent Rapid Revenue Growth Revenue In MaxCyte $25,000,000 ✓ Robust revenue growth in 1H2020 of 30% (25% CAGR; 2014-1H2020), consistently strong gross margins ✓ 1H 2020 Life Sciences EBITDA $0.6m; total cash and cash equivalents as of 30 June 2020 $38.2m ✓
Slide 23: Upcoming news flow
Upcoming news flow • Cell Therapy Business Unit • Accelerated adoption in 2020, expanding recurring revenue from licenses, PA sales and milestones • Continue to invest in product development to enable partners to commercialize novel cell-based therapies • Total potential pre-commercial development m
Slide 24: Thank You
Thank You ir@maxcyte.com www.MaxCyte.com