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© 2018 MaxCyte, Inc. All Rights Reserved. | Company Confidential Driving The Next Generation of Cell-Based Medicines Doug Doerfler | Founder, President & CEO September 2018 LSE: MXCT / MXCR

Driving The Next Generation of Cell-Based Medicines€¦ · Global footprint of field force. Wholly owned next generation mRNA CAR-based product IND submitted to FDA in 2017 with

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© 2018 MaxCyte, Inc. All Rights Reserved. | Company Confidential

Driving The Next Generation of Cell-Based MedicinesDoug Doerfler | Founder, President & CEOSeptember 2018 LSE: MXCT / MXCR

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS.

The information contained in this document and to be communicated during the presentation of these slides, including the talks given by presenters, any question and answer session and any documents or other materials distributed at or in connection with the presentation (together, this “presentation”) is strictly confidential, and is supplied on the understanding that it will be held in confidence, and not copied, reproduced, distributed, published or disclosed to third parties. This presentation has been prepared by MaxCyte, Inc. (the “Company”) in connection with a proposed placing of the common stock of the Company. This presentation does not constitute a prospectus or admission document or form part of any offer or invitation to purchase, sell or subscribe for, or any solicitation of any such offer to purchase, sell or subscribe for, any securities in the Company nor shall this presentation or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.

This presentation is not for distribution, directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan, the Republic of South Africa or any jurisdiction where it would be unlawful to do so. The distribution of this presentation or any information contained in it may be restricted by law in certain jurisdictions, and any person into whose possession any document containing this presentation or any part of it comes should inform themselves about, and observe, any such restrictions.

No reliance may be placed, for any purposes whatsoever, on the information contained in this presentation or on its completeness and this presentation should not be considered a recommendation by the Company, Panmure Gordon (UK) Limited (“Panmure”), any of their respective directors, partners, officers, employees, advisers or any other party in relation to any purchase of or subscription for securities of the Company. No representation or warranty, express or implied, is given by or on behalf of the Company or Panmure or any of their respective directors, partners, officers, employees, advisers or any other persons as to the accuracy, fairness or sufficiency of the information or opinions contained in this presentation and none of the information contained in this presentation has been independently verified by any person. Save in the case of fraud, no liability is accepted for any errors, omissions or inaccuracies in such information or opinions.

The information contained in this presentation is intended to be made available only to persons who qualify to receive it as (A) persons in member states of the European Economic Area who are “qualified investors” within the meaning of article 2(1)(e) of the Prospectus Directive; and (b) in the United Kingdom, persons who (i) have professional experience in matters relating to investments and fall within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) are persons falling within article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Order; or (iii) are persons to whom it may otherwise be lawfully communicated. It is a condition of your receiving this presentation that you have confirmed to the Company and produced evidence satisfactory to Company that you are within one of the categories described above.

The common stock of the Company will not be registered under the US Securities Act of 1933, as amended (“Securities Act”) or under any securities laws of any state or other jurisdiction of the United States in connection with the proposed placing to be undertaken by the Company. The common stock of the Company are being offered only to non-US Persons outside the United States in transactions exempt from the registration requirements of the Securities Act in reliance on Category 3 of Regulation S. The common stock of the Company being offered to non-US Persons are subject to the conditions listed under section 903(b)(3), or Category 3, of Regulation S. Under Category 3, Offering Restrictions (as defined under Regulation S) must be in place in connection with the Placing and additional restrictions are imposed on resales of the common stock. The Common Stock are “restricted securities” as defined in Rule 144 under the Securities Act.

Such common stock may not be offered or sold in the United States or to a US person (within the meaning of regulations made under the Securities Act) unless the common stock are registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available, including a transaction specified by Regulation S.

The information contained in this presentation is confidential and must not be copied, reproduced, published, distributed, disclosed or passed to any other person at any time without the prior written consent of Panmure, as agent for the Company. This presentation may include inside information under Regulation (EU) No 596/2014 (Market Abuse Regulation) and accordingly attendees at this presentation should not deal, for its account or the account of any third party, directly or indirectly, in any securities of the Company before the information is made public. In agreeing to attend this presentation, you have consented to the receipt of the inside information and to be treated as an "insider" in relation to the information to be disclosed at this presentation.

This presentation may include opinions, forward-looking statements and estimates, many of which are based upon various assumptions including, without limitation, management's intentions going forward, projects or product development that is underway or may be undertaken or management's examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Forward-looking statements speak only as at the date of the 2016 full-year results announcement and the Company and its advisers expressly disclaim any obligations or undertaking to release any update of, or revisions to, any forward-looking statements in this presentation. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, and the Company may not achieve or accomplish these expectations, beliefs or projections. Neither the Company, nor any of its members, directors, officers, agents, employees or advisers intend or have any duty or obligation to supplement, amend, update or revise any of the opinions, forward-looking statements or estimates contained in this presentation. No statement in the presentation is intended to be, or intended to be construed as, a profit forecast or profit estimate or to be interpreted to mean that earnings per Company share for the current or future financial years will necessarily match or exceed the historical earnings per Company share. As a result, no undue reliance should be placed on such statements.

Panmure is regulated in the United Kingdom by the Financial Conduct Authority and is acting only for the Company in connection with the proposed placing and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Panmure or advice to any other person in relation to the proposed placing.

September 2018 CONFIDENTIAL 2

Disclaimer

MaxCyte: Global cell-based medicines and life sciences company with patented cell engineering technology

Revenues of approx. $14M, stable gross margins of near 90% and 10+ years of consecutive growth

*By revenue

Focus on cell-based medicines, including: • Discovery • Development • Manufacturing• Commercialisation

Unique platform based around proprietary and FDA-cleared Flow Electroporation® technology

US-based; business model in three parts:• Drug discovery, clients include all top ten pharma companies worldwide• Cell Therapy, 55+ programmes with leading cell therapy developers• CARMA™, MaxCyte’s own next-generation immunotherapy entering clinical

trials second half 2018

September 2018 CONFIDENTIAL 3

September 2018 4

Proprietary Flow Electroporation®Patented, proprietary large-scale and regulatory-compliant platform for cell engineering

Any Molecule. Any Cell.

Any Scale.®

DNAmRNA, siRNA protein

Produce

biologics for

development

Redirect

cells to kill

cancer

Edit and

correct

genes

Cells to

discover

drugs

MaxCyte:Three-part business model

September 2018 CONFIDENTIAL 5

CARMACELL THERAPYDRUG DISCOVERY

Blue-chip client base

including all top 10 and 20

of 25 top global pharma

companies

2017 - $14m

2016 - $12m

2015 - $9m

Stable ~90% Gross Margin

$Multi-million

Licencing

Opportunities

Cells to

discover drugsCells as drugs

Direct cells to

kill cancer

Licenses granted to 55+

cell therapy programmes,

25+ for clinical use

CARMA: Next

generation mRNA

CAR-based product

Drug Discovery

CARMA

Cell Therapy

Flow Electroporation®

Drug discovery

September 2018 CONFIDENTIAL 6

CARMA Platform

Cell Therapy

Flow Electroporation®

Technology

Enabling the development of novel

cell therapies with leading players

✓ 55+ partnered programmes

- 25+ Phase I/II

- Immuno-oncology

- Gene editing

- Regenerative

medicine

✓ Annual licensing fees and

PA sales provide recurring

revenue stream

✓ Validated upside potential

of $10m per commercial

deal

Wholly owned next generation mRNA CAR-based product

✓ IND submitted to FDA in 2017 with first-in-human trial

expected to start in 2018

✓ Leverages MaxCyte’s extensive experience at the cutting edge of CAR-T

✓ $150m to $300m per product partnering opportunities

✓ Significant potential patient benefits

✓ Investment in cutting edge science

Drug Discovery

& Development

Instruments and processing assemblies (PAs) sold to pharma and biotech companies worldwide

✓ Customers include all top 10 pharma companies

✓ Sale of PAs provide recurring revenue stream

✓ Global footprint of field force

Flow Electroporation®

• MaxCyte solves problems for world’s largest pharma and biotech companies

• Instruments, processing assemblies and technology sold worldwide

• 200+ systems in the field

• Drug discovery, development and biomanufacturing

• Significant untapped market

• Growing recurring revenue element

• Consistent high margins

CONFIDENTIAL 7

Drug discovery

1 Source: MarketsandMarkets, as of January 13, 2018

MaxCyte VLX for high volume biomanufacture

MaxCyte STX for drug discovery

Global transfection market1

(reagents and equipment only)

$958m(2020)

7.5% CAGR

$677m(2015)

September 2018

Sampling of Customers

September 2018 CONFIDENTIAL 8

Cell therapy

CARMA

Flow Electroporation®

Technology

Drug Discovery

Instruments and processing assemblies (PAs) sold to pharma and biotech companies worldwide

✓ Customers include all top 10 pharma companies

✓ Sale of PAs provide recurring revenue stream

✓ Global footprint of field force

Wholly owned next generation mRNA CAR-based product

✓ IND submitted to FDA in 2017 with first-in-human trial

expected to start in 2018

✓ Leverages MaxCyte’s extensive experience at the cutting edge of CAR-T

✓ $150m to $300m per product partnering opportunities

✓ Significant potential patient benefits

✓ Investment in cutting edge science

Cell Therapy

Enabling the development of novel

cell therapies with leading players

✓ 55+ partnered programmes

- 25+ Phase I/II

- Immuno-oncology

- Gene editing

- Regenerative

medicine

✓ Annual licensing fees and

PA sales provide recurring

revenue stream

✓ Validated upside potential

of $10m per commercial

deal

Flow Electroporation®

• Rapidly growing opportunity: over 800 companies developing cell and gene based therapies

• More than 55 non-exclusive, non-CARMA programs currently licensed, 25+ for clinical use- GT instruments licensed for partnered programs ISO 9001, GMP

compliant, FDA cleared- Annual licensing fee + sale of processing assemblies

• Broad exposure to the leading developments in cell therapy in immuno-oncology, gene editing and regenerative medicine- Indications include: HIV; paediatric leukaemia; Hodgkin’s lymphoma;

triple negative breast cancer; pancreatic cancer; neuroblastoma; AML; blood cancers; CDG; pulmonary arterial hypertension; SCD

• Validated multi-million $ commercial license/milestone opportunities- First MaxCyte commercial license in gene editing with CRISPR/Bayer

March 2017

CONFIDENTIAL 9

Partnered cell therapy programmes

1 Source: Informa, Alliance for Regenerative Medicine. Total financing include M&A, PE

and VC, PIPEs, Corporate partnerships, IPOs and follow-ons; not to scale

Upfront payments from

M&A and corporate

partnerships

Total financing

$7.5bn(2017)

c.$2.2bn(2017)

Strong Financing Momentum in Cell Therapy1

Partnered Cell-Based Programmes

2011: 6

2013: 12

2015: 30+

2017: 50+

2018: 55+

September 2018

Oncology

Renal cell carcinoma **

Pancreatic cancer

Neuroblastoma

Hodgkin's lymphoma

Triple negative breast cancer

Leukemia

Ovarian cancer

Mesothelioma

Inherited Genetic Diseases

Beta thalassemia

**Sickle cell disease

Severe combined immunodeficiency disease

Cardiovascular Pulmonary arterial hypertension

Infectious disease HIV

Cell therapy programmes and partners

September 2018 CONFIDENTIAL 10

RESEARCH & CLINICAL PARTNERS* PRE-CLINICAL RESEARCH CLINICAL* NON-EXCLUSIVE COMMERCIAL RIGHTS

Onkimmune

* Confidential partners/programmes not listed** Rights granted are non-exclusive

• Programmes managed and funded by the relevant partner (not MaxCyte)

• Regulatory agencies are accelerating approvals for novel therapies that treat serious disease

• 55+ pre-clinical research licences, of which 25+ are clinical programme licences, can result in MaxCyte capturing significant commercial value

Sickle Cell Disease

Chronic Granulomatous Disease

11

Revenue potential across multiple applications/indications

Annual License Fees and Disposables + Share in Value of Therapeutic including Milestones

IMMUNO-ONCOLOGY

Renal Cell CarcinomaPancreatic MesotheliomaTriple Negative Breast NeuroblastomaHodgkin’s LymphomaAMLPaediatric Leukaemia

GENE EDITING

CAR THIVBeta-thalassemiaSickle Cell DiseaseCGDPAH

REGENERATIVE MEDICINERESEARCH CLINICAL COMMERCIAL

55+ Licensed

Partnered

Programmes

POTENTIAL

September 2018 CONFIDENTIAL

September 2018 CONFIDENTIAL 12

Potential large cell therapy commercial opportunitiesExample of typical licence deal in typical market

Instruments and

Processing Assemblies

Milestones

Sales Based Payments

Cell Therapy Partner

Programme Value Schematic

Drug Discovery

Instruments and processing assemblies (PAs) sold to pharma and biotech companies worldwide

✓ Customers include all top 10 pharma companies

✓ Sale of PAs provide recurring revenue stream

✓ Global footprint of field force

CARMA™

September 2018 CONFIDENTIAL 13

Cell Therapy

Flow Electroporation®

Technology

Enabling the development of novel

cell therapies with leading players

✓ 55+ partnered programmes

- 25+ Phase I/II

- Immuno-oncology

- Gene editing

- Regenerative

medicine

✓ Annual licensing fees and

PA sales provide recurring

revenue stream

✓ Validated upside potential

of $10m per commercial

deal

CARMA

Wholly owned next generation mRNA CAR-based product

✓ IND submitted to FDA in 2017 with first-in-human trial

expected to start in 2018

✓ Leverages MaxCyte’s extensive experience at the cutting edge of CAR-T

✓ $150m to $300m per product partnering opportunities

✓ Significant potential patient benefits

✓ Investment in cutting edge science

Flow Electroporation®

CARMA: Patented transfection of mRNA into fresh (i.e., unexpanded, unselected) cells provides a simple, rapid to manufacture, dose controllable product

• Permits the treatment of a broad range of cancers including solid tumours

Foundation work: transfection of mRNA into expanded cells at leading institutions

• 9 independent clinical trials using MaxCyte transfected mRNA involving more than 20 patients; showing evidence of anti-tumour activity, including on solid tumours

• No change in activity in expanded vs. fresh cells

CARMA: Reduced complexity, low cost, highly scalable; potential for increased safety

• Pre-clinical CARMA in vivo studies progressing in solid tumour and leukaemia models

CAR-T: recent news

• Novartis and Kite/Gilead receive approvals for Kymriah and Yescarta• Gilead acquires Kite for $11.9bn• Celgene acquires Juno for $9bn

September 2018 CONFIDENTIAL 14

CARMA™ platform The next generation of autologous CAR therapies in oncology

15

Phase 1 proof-of-concept for engineered mRNA expanded cells in pancreatic cancerUniversity of Pennsylvania clinical study showed anti-tumor activity in humans

September 2018

Complete metabolic reduction in liver FDG uptake at 1 month in all liver lesions- Three additional patients with metabolic stable disease- Two patients with stable disease by RECIST criteria

MaxCyte engineered mRNA CART meso cells

demonstrate clinical activity in chemotherapy

refractory metastatic pancreatic cancer

Meaningful progression-free survival in 2 of 6

patients

Beatty et Al. Activity of Mesothelin-specific Chimeric Antigen Receptor T cells Against Pancreatic Carcinoma Metastases in a Phase 1 Trial

• Unique platform has potential to target any protein in any indication- CAR therapies as initial application

• mRNA approach offers significant additional target opportunities in both solid and blood cancers

• High value product and platform licensing opportunities 16

CARMA™Potentially Safe, non-viral, commercial approach to cancer therapies

Blood Collection

Patient

Apheresis

Product

Infusions

mRNA CAR

MaxCyte

Aliquot and

Cryopreservation

Multiple

Doses

< 1 Day

September 2018

CARMA POTENTIAL

Low off-target toxicity due to shortened persistence

Rapid turnaround of cell therapy to patient (reduced CMC complexity)

Virus free

Simple, rapid manufacture

No pre-treatment required prior to patient dosing

Multi-dose allows greater potentialcontrol of safety

Solid and liquid tumours

17

CARMA™ versus other autologous CAR therapies

OTHER CARs

Uncontrolled toxicity

Much longer turnaround time to patient

Often employ viral components increasing risk of toxicities

Potential delays due to manufacturing capacity and reliance on viruses

Pre-treatment required

Single dose

Liquid tumours

September 2018

Mesothelin (MSLN):First solid tumour target for CARMA™

• GPI anchored membrane protein (~40 kDa)• Shown to bind to CA-125 suggestive of role in

cell adhesion, tumour invasion and metastasis• Very low expression on normal tissues, mainly

restricted to “non critical” tissues• Over-expressed on multiple adenocarcinomas

with high unmet medical need- Mesothelioma, Pancreatic & Ovarian (~80%+)- TN Breast, Lung, Gastro-esophageal, colorectal (~40%+)

• Currently available clinical experience:- Established ability to specifically target mesothelin and localize

to mesothelin positive tumors- Established preliminary safety- Demonstrated early signals of clinical benefit- Observed evidence of immune activation and induction of

mesothelin-specific T cell responses

18

Cancer Discov. 2016 Feb; 6(2):133-46, Pastan, PNAS (1996)

Frequency and distribution pattern of the MSLN protein in solid malignancies

September 2018

IP Delivery Mesothelin Targeted Therapies

Ovarian Cancer, Peritoneal Mesothelioma

IV Delivery Mesothelin Targeted Therapies

Multiple solid tumor Indications

AML (CD123 Targeted Therapy)

Undisclosed Targets

CARMA™ pipeline – Wholly owned by MaxCyteStrong therapeutic potential in solid tumours and other diseases

September 2018 19

PRE-CLINICAL

RESEARCH

POTENTIAL CLINICAL

INDICATIONDISCOVERY OPTIMIZATION IND-ENABLING PHASE 1

Current Status Expected Status: End of 2019

Dose first patient in 2019

Dose first patient in 2H18

Financials and summary

September 2018 CONFIDENTIAL 20

CARMA

Flow Electroporation®

Technology

Drug Discovery

Cell Therapy

Flow Electroporation®

• Revenues of $6.9 million for the six months ended 30 June 2018, a 11.6% increase over $6.2 million for same period of 2017

• Gross margins remained consistent at 89% for the six months ended 30 June 2018, compared to 90% for same period of 2017

• Investment in CARMA™ was $2.6 million (first half 2017: $2.1 million) as the Company completed submissions for its IND application to FDA

• Operating expenses (including CARMA investment) increased to $10.7 million for the six months ended 30 June 2018 (first half 2017: $9.5 million)

• Cash and cash equivalents, including short term investments totalled $18.8 million at 30 June 2018 (31 December 2017: $25.3 million)

CONFIDENTIAL 21

First-half 2018 financial highlights

23% two-year

CAGROrganic revenue growth

2015-2017

200+ instruments

placed

September 2018

CONFIDENTIAL 22

Operating results: H1 2017-2018

Millions June 30, 2017 June 30, 2018

Revenue $6.2 $6.9

Costs of goods sold .6 .8

Gross Margin 90% 89%

Operating expenses

Research and development 2.1 2.3

CARMA research and development 2.1 2.6

Sales and marketing 2.9 3.3

General and administrative 2.4 2.5

Operating loss before CARMA (1.9) (1.9)

Operating loss (4.0) (4.5)

Interest expense/income 0.3 0.3

Net loss (4.3) (4.8)

Note: financial information presented under US GAAP

September 2018

Operating Expenses include $0.1M and $0.4M in non-cash stock option compensation expense in H1 2017 and 2018, respectively.

CONFIDENTIAL 23

Summary financials: balance sheet

Note: financial information presented under US GAAP

Assets December 31, 2017 June 30, 2018

Current assets:

Cash and cash equivalents, including short-term investments $ 25.3 $ 18.8

Accounts receivable 3.2 3.8

Inventory 1.3 2.0

Other current assets 0.7 1.1

Total current assets 30.6 25.7

Property and equipment, net 0.8 1.1

Total assets $ 31.4 $ 26.8

Accounts payable, accrued and other 4.3 3.0

Deferred revenue 2.1 2.8

Note payable, short term 0.8 0.0

Total current liabilities 7.2 5.8

Other Non-current Liabilities 0.4 0.5

Note payable, long term 4.2 5.0

Total liabilities $ 11.8 $ 11.4

Total stockholders' equity (deficit) $ 19.6 $ 15.4

September 2018

Key progress since 2016 IPO

MaxCyte- Consistent revenue growth and high gross

margins (~90%)

Drug Discovery - c.100+ to c.200+ in the field- Clients now include all top ten (and 20 of

25 top) pharma companies worldwide

Cell Therapy- 30+ cell therapy programmes grown to 55+- CRISPR/Casebia commercial deal

CARMA™- Pre-clinical programme to IND-clearance

for first trial

CONFIDENTIAL 24September 2018

Drug Discovery

CARMA

Cell Therapy

Flow Electroporation®

Expected 12-month news flow

Drug Discovery - Expansion of core customer base- Continued growth of single use products

Cell Therapy- Additional cell therapy programmes

- Further commercial deals

CARMA™- CARMA first in human Ph I trial to commence in Q4

2018- Trial data developing for potential safety and

efficacy

CONFIDENTIAL 25September 2018

Drug Discovery - Strong revenue growth year-on-year 2014-2017 and anticipated for 2018- Focus remains on driving top-line growth; continued development and

adoption of technology through instrument and PA sales; planned expansion of the overall business

Cell Therapy- Focus on driving adoption, expanding recurring revenue from licences

and PA sales- Potential to secure additional commercialization license deals from cell

therapy programmes- Plan to invest in product development to enable partners to

commercialize novel cell based medicines- Advance proprietary gene correction process as potential long term

treatment for inherited diseases

CARMA™- Progress MCY-M11 to dosing of first patient now that IND has been

cleared by US FDA

CONFIDENTIAL 26

Strong outlook: trading in line with expectations for FY 2018

September 2018

Thank You! www.MaxCyte.com

CONFIDENTIAL 28

Summary financials: cash flow

Note: financial information presented under US GAAP

30 June 2017 30 June 2018

Cash flows from operating activities:

Net loss $ (4.3) $ (4.8)

Balance sheet changes (1.0) (1.7)

Net cash used in operating activities (5.3) (6.5)

Cash flows from investing activities: (0.1) (3.0)

Cash flows from financing activities: 23.9 .2

Net increase (decrease) in cash and cash equivalents 18.4 (9.3)

Cash and cash equivalents, beginning of period 11.7 25.3

Cash and cash equivalents, end of period $ 30.2 $ 16.0

September 2018

• OvCA• OvCA incidence US and EU = ~47K• Advanced Stage = 60%• Platinum Refractory = 100%• Patient Growth rate = 1%

September 2018 29

Peritoneal Mesothelioma

• PM incidence US and EU = ~700• Advanced Stage = 100%• Platinum Refractory = 100%• Patient Growth rate = 0.5%

M11 Revenue Potential

• Global Total Peak projected revenues = ~$1B

Sources - https://seer.cancer.gov/statfacts/html/ovary.html; https://academic.oup.com/annonc/article/27/11/2017/2467050

OvCA & peritoneal meso global market opps:Based on current protocol and initial approval

September 2018

In Vitro meso expression of healthy donor cellsDetection and functional activity - over 7 days

MCY-M11 is transient and potentiated by subsequent administrations

Despite short duration of expression, ability of

repeated dosing may

provide:

1. Overcome tolerance

2. Re-activation of immune system

3. Generation of immune cascade

100

80

60

40

20

0

+EP +EP +EP

donor 1 donor 2 donor 3

CA

RM

A-h

Me

so

Ex

pre

ss

ion

(%)

Kinetics of MCY-M11 Expression

Donors

1D 4D 7D

30

DOSE #2

Reactivates immune system

DOSE #3

Generates an immune cascadeOvercome immune tolerance

DOSE #1

MaxCyte CAR triggers immune cascade Reshaping the endogenous immune system to a more effective environment

September 2018

Tumour LysisRelease TAA, Epitope Spreading

CytokinesInterleukin

Recruit Inflammatory Cascade

Tonsils

Lymph Nodes

Thymus

Spleen

Lymph Nodes

31

MCY-M11Inhibits growth of human mesothelin-expressing tumour (ID8) cells in nude mouse in dose-dependent manner

September 2018 32

MC

Y-M

11

CO

NT

RO

L

-80 000

-60 000

-20 000

-100 000

▲ Min= 10,000 | Max = 1e+05

-60 000

-40 000

-20 000

-100 000

-0.8

-0.6

-0.4

-0.2

-1.0

▲ Min= 1e+05 | Max = 1e+06

DAY 1 DAY 5 DAY 8 DAY 13

1x108

Phosphate-buffered saline

1x107

1x107 non-specific CAR

1x108 non-specific CAR

DOSING ▼ Min= 10,000 | Max = 1e+05

Results given demonstrate only direct impact on ID8 cells

September 2018 33

MCY-M11Multiple (weekly) administrations prolong OS

Hung et al, Human Gene Therapy, 2018

Enhanced Survival of Solid Tumour Bearing Nude MiceTumour

Injections

M11 injections

M11 M11 Control

September 2018 34

MCY-M11Phase 1 clinical trial design

IND cleared in July 2018

Dose Escalation 3+3 Design Intraperitoneal

DL1: 1 x 107

cells/doseWeekly dosing x3

DL2: 5 x 107

cells/doseWeekly dosing x3

DL3: 1 x 108

cells/doseWeekly dosing x3

DL4: 5 x 108

cells/doseWeekly dosing x3

• Dosed via intraperitoneal infusion into abdominal cavity• Patients with advanced and relapsed ovarian cancer and peritoneal

mesothelioma to be enrolled• Primary endpoint: Safety• Secondary endpoints: Efficacy and immune correlates

September 2018 35

MCY-M11Targeting significant unmet needs

Ovarian Cancer

• OvCA incidence US and EU = 47K• Diagnosed @ Advanced Stage = 60%• Platinum Refractory = 100%• Patient Growth rate = 1%• Standard of Care for patients diagnosed at

Advanced Stage is surgery, radiation and platinum therapy

• 5-year survival rate at advanced stage is 20-30%

Peritoneal Mesothelioma

• PM incidence US and EU = 700• Advanced Stage = 100%• Platinum Refractory = 100%• Patient Growth rate = 0.5%• Standard of Care is surgery and platinum

therapy• Survival rate is ~ 1 year

Sources - https://seer.cancer.gov/statfacts/html/ovary.html; https://academic.oup.com/annonc/article/27/11/2017/2467050

MYC-M11 targeted treatment population

• Advanced stage OvCA which have failed platinum therapy• Advanced stage PM which have failed platinum therapy