MaxCyte Appoints Ali Soleymannezhad as Chief Commercial Officer

ROCKVILLE, Md., Oct. 10, 2024 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (NASDAQ:MXCT, LSE: MXCT))), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell-based therapeutics and innovative bioprocessing applications, today announced the appointment of Ali Soleymannezhad as Chief Commercial Officer, effective as of September 11, 2024.

In his new role, Mr. Soleymannezhad will lead MaxCyte's commercial operations to increase adoption of the ExPERT Platform, provide best-in-class scientific, technical and regulatory support to customers, and expand the Company's market impact in Cell and Gene Therapy. Prior to his role as Chief Commercial Officer, Mr. Soleymannezhad was the Executive Vice President of Bioprocessing, where he led global product development and marketing strategy for MaxCyte's bioprocessing business.

"I am delighted to promote Ali to the role of Chief Commercial Officer," said Maher Masoud, President and CEO of MaxCyte. "His diverse experience, skills, and leadership at MaxCyte as Executive Vice President of Bioprocessing have strengthened our organization's product development and commercial strategies. We look forward to working alongside Ali as he leads our commercial efforts to drive future growth at MaxCyte."

Mr. Soleymannezhad brings 20 years of technical sales, marketing, and product development experience to his new role. Prior to Executive Vice President of Bioprocessing at MaxCyte, he served as Executive Vice President for the Separations and Purification business at Tosoh Bioscience and oversaw a team of 140 employees across four global manufacturing, development, and commercial sites. Mr. Soleymannezhad was also Vice President of Global Marketing and Business Development and Director of Sales and Marketing-Americas at Tosoh and served on the board of Semba Biosciences.

"I am excited to apply my experience in sales and marketing and global business strategy to MaxCyte's commercial efforts," said Ali Soleymannezhad, CCO of MaxCyte. "I look forward to working with our executive team to continue MaxCyte's commitment to supporting our customer's Cell and Gene therapy work in research, through the clinic, and beyond."

About MaxCyte

At MaxCyte, we pursue cell engineering excellence to maximize the potential of cells to improve patients' lives. We have spent more than 20 years honing our expertise by building best-in-class platforms, perfecting the art of the transfection workflow, and venturing beyond today's processes to innovate tomorrow's solutions. Our ExPERT™ platform, which is based on our Flow Electroporation^® technology, has been designed to support the rapidly expanding cell therapy market and can be utilized across the continuum of the high-growth cell therapy sector, from discovery and development through commercialization of next-generation, cell-based medicines. The ExPERT family of products includes: four instruments, the ATx™, STx™, GTx™ and VLx ™; a portfolio of proprietary related processing assemblies or disposables; and software protocols, all supported by a robust worldwide intellectual property portfolio. By providing our partners with the right technology platform, as well as scientific, technical and regulatory support, we aim to guide them on their journey to transform human health. Learn more at maxcyte.com and follow us on X and LinkedIn.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements about us and our industry involve substantial known and unknown risks, uncertainties, and assumptions that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements include, but are not limited to, statements about the Company's projected full-year total revenue, core revenue, and SPL program revenue and statements about possible or future results of operations or financial position. In some cases, you can identify forward-looking statements because they contain words such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "contemplate," "target," the negative of these words and similar words or expressions. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. The forward-looking statements contained in this press release, include, without limitation, statements concerning the following: our expected future growth and success of our business model; the size and growth potential of the markets for our products, and our ability to serve those markets, increase our market share, and achieve and maintain industry leadership; and our ability to expand our customer base and enter into additional SPL partnerships.

These and other risks and uncertainties are described in greater detail in Item 1A , entitled "Risk Factors," in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on or about March 12, 2024, as well as in discussions of potential risks, uncertainties, and other important factors in the other filings that we make with the Securities and Exchange Commission from time to time. These documents are available through the Investor Menu, Financials section, under "SEC Filings" on the Investors page of our website at http://investors.maxcyte.com. Any forward-looking statements in this press release are based on our current beliefs and opinions on the relevant subject based on information available to us as of the date of such press release, and you should not rely on forward-looking statements as predictions of future events. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

MaxCyte Contacts:

US IR Adviser

Gilmartin Group

David Deuchler, CFA

+1 415-937-5400

[email protected]

US Media Relations

Spectrum Science

Jordan Vines

[email protected]

+1 540-629-3137

Nominated Adviser and Joint Corporate Broker

Panmure Liberum

Emma Earl / Freddy Crossley

Corporate Broking

Rupert Dearden

+44 (0)20 7886 2500

UK IR Adviser

ICR Consilium

Mary-Jane Elliott

Chris Welsh

+44 (0)203 709 5700

[email protected]