MaxCyte (MXCT) Acquisition presentation summary

Transaction terms

• Definitive agreement to acquire Akron Bio for ~ $151.8M: $105.0M cash upfront, 20.6M common shares valued at ~$26.8M, and $20.0M in guaranteed deferred payments in 2028 and 2029.

• Funding combines cash on hand and newly issued shares; closing expected before year-end 2026, subject to customary conditions, with no financing condition or stockholder approval required.

• MidCap Financial facility provides up to $75.0M: $55.0M term loan and $20.0M revolver; expected closing draws are $20.0M and $2.0M, respectively.

• Expected closing cash of $40M–$45M and 2027 pro forma annual cash burn below $10M; projected path to profitability without fully using the facility.

Akron Bio profile

• Boca Raton-based supplier of GMP-grade reagents and ancillary materials used before and after cell engineering; operates a cGMP facility and uses global cGMP contract manufacturing partners.

• Products are specified into validated customer processes and cited in IND/BLA submissions; used in 4 approved therapies, 4 registrational-stage programs and 85+ other clinical programs.

• Revenue was $23M in 2025 and is estimated at $28M in 2026; 2026 expected EBITDA is $7M–$8M, with a mid-60s gross margin profile.

• 80%–85% of revenue comes from specified-in customers; 40%–45% from commercial-stage customers. Revenue grew at a low-to-mid-teens CAGR from 2018 to 2025, with low-to-mid-teens growth expected in 2027.

Strategic and commercial fit

• Combination triples commercial and registrational programs from 4 to 12, including 5 commercial therapies; registrational programs could reach commercialization in 2027–2028.

• Addressable ex vivo cell and gene therapy programs expand from ~360 to ~770 across the U.S. and Europe, adding access to programs regardless of engineering method.

• Complementary products span cell isolation, culture, engineering, expansion and cryopreservation; combined drug master files are referenced over 300 times in regulatory filings, including IND/BLA submissions.

• Shared customers are ~10%, creating cross-selling potential; combined portfolio includes 100+ clinical-stage programs and 30% of projected revenue tied to commercial-stage customers.