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Busan, Korea and Gaithersburg, Maryland - Binex (KOSDAQ:053030) and MaxCyteInc., announced today the signing of a Sponsored Research Agreement to evaluate MaxCyte's GMP-compliant cell loading technology for use in closed-system manufacturing of Binex's cell-based cancer immunotherapies. Upon completion of the research studies, the agreement provides Binex an option to license MaxCyte's technology for clinical and commercial use in Korea. Financial terms were not disclosed.
"Based upon its impressive capabilities, we believe MaxCyte's cell loading technology can be an important component of our closed system," said Baek Chun Lee, Ph.D., Binex's Chairman. "Our immunotherapy product is currently undergoing review by the Korean FDA for colorectal and non-small cell lung cancers and clinical studies are in progress for breast and gastrointestinal cancers. We expect cell immunotherapies to continue to be a core business for Binex. As we advance this therapy, we are developing a closed system manufacturing process which will allow us to improve scalability and reduce cost for making inroads into world markets. We believe MaxCyte's technology can contribute significantly as we expand this product toward new indications."
"We are extremely pleased to be working with Binex to advance their promising cancer vaccine. Our technology has been shown to be uniquely effective, capable of producing cell-based therapeutics that are highly reproducible, with the scalability and efficiency needed for commercial use," said Douglas Doerfler, President and CEO of MaxCyte. "Binex's readiness to partner with MaxCyte validates both the enablement of our cell loading technology platform and their leadership as a life sciences company."
Binex Co., Ltd. is a publicly traded specialized pharmaceutical company located in Busan, Korea developing a broad range of pharmaceutical products such as nutrients and vitamin compounds, and intestinal antiseptic concentrated with probiotics screened by Binex. Binex is also developing a strong anti-cancer franchise based around their DC-Vac and ANYCELL cell bank businesses. BINEX went public in 2001 on the Korean Stock Exchange and recorded sales of $30 million in 2007 fiscal year.
MaxCyte is a clinical-stage cell therapeutics company with a rapidly growing pipeline of product development partnerships in cell-based therapies. The Company's proprietary, non-viral, ex vivo cell loading technology overcomes critical obstacles such as safety, scalability and reproducibility which are fundamental to commercializing successful cell-based therapies. MaxCyte has demonstrated the value of its versatile technology in partnered therapeutic programs in oncology, pulmonary, metabolic and infectious diseases as well as in development collaborations with leading researchers. Current clinical programs with MaxCyte-engineered cells include: a Phase I/II clinical study for treatment of chronic lymphocytic leukemia (CLL) and a Phase IIa study using engineered stem cells for the treatment of primary Pulmonary Arterial Hypertension (PAH). In addition, there are advanced preclinical programs in oncology and regenerative medicine. More than 16 commercial and academic partners are currently using the MaxCyte technology. The MaxCyte system has an FDA Master File in place at the Center for Biologics Evaluation and Research (CBER).