MaxCyte, Inc., a biotechnology company headquartered at 9713 Key West Avenue in Rockville, announced Tuesday, November 10, that it has entered into an agreement to acquire Florida-based Akron BioProducts LLC for approximately $151.8 million. The acquisition is expected to nearly double MaxCyte’s revenue base and expand its role in the growing cell therapy industry.
MaxCyte specializes in cell-engineering technologies used by pharmaceutical and biotechnology companies to develop and manufacture advanced therapies. The company’s technology helps researchers modify cells for use in treatments, including therapies designed to fight cancer and other serious diseases.
Akron Bio, headquartered in Boca Raton, Florida, supplies specialized materials used throughout the cell therapy manufacturing process. Its products include materials that help cells grow, support manufacturing, and preserve cells for future use. The company is expected to generate approximately $28 million in revenue in 2026, along with $7 million to $8 million in earnings before interest, taxes, depreciation, and amortization (EBITDA).
According to MaxCyte, the acquisition will expand its presence across multiple stages of cell therapy manufacturing while increasing recurring revenue from products used in ongoing commercial production. Together, the companies will support five commercially approved therapies and more than 100 clinical programs.
“The acquisition of Akron marks an exciting new chapter for MaxCyte,” said Maher Masoud, President and Chief Executive Officer of MaxCyte. “This acquisition represents a significant step forward for us, expanding our presence across the viral and non-viral cell therapy development and manufacturing workflow, while projecting to nearly double our revenue base and accelerate our path to profitability.”
Under the agreement, MaxCyte will pay $105 million in cash and issue approximately 20.6 million shares of common stock valued at $26.8 million. The transaction also includes $20 million in guaranteed deferred payments, with $10 million scheduled for January 2028 and another $10 million in January 2029.
To support the acquisition and future operations, MaxCyte has secured a new credit facility of up to $75 million through MidCap Financial. Akron Bio is expected to continue operating under its existing brand, with its current leadership and employees remaining involved in the combined company.
MaxCyte expects the acquisition to reduce the combined company’s annual cash burn to less than $10 million in 2027 and accelerate its path toward profitability. The transaction is expected to close before the end of 2026, subject to customary closing conditions.
The acquisition represents a significant expansion for the Rockville-headquartered biotechnology company, strengthening its position in the cell therapy manufacturing industry and broadening its relationships with pharmaceutical developers worldwide.
