10:33 AM EDT, 05/22/2024 (MT Newswires) -- MaxCyte ( MXCT ) said Wednesday it has signed a strategic platform license agreement with Legend Biotech ( LEGN ) to support Legend Biotech's ( LEGN ) cell therapy program.

Under the terms of the agreement, Legend Biotech ( LEGN ) obtained a non-exclusive worldwide license to use MaxCyte's ( MXCT ) Flow Electroporation technology and ExPert platform for the research, development, and commercialization of cell therapy products, MaxCyte ( MXCT ) said.

In return, Legend Biotech ( LEGN ) will pay MaxCyte ( MXCT ) annual licensing fees and milestones during clinical development as well as royalties on net sales of licensed products, MaxCyte ( MXCT ) said.

Shares of MaxCyte ( MXCT ) were 3.8% higher in recent Wednesday trading, and Legend Biotech ( LEGN ) shares were 1.5% up.

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