MaxCyte Agrees to Acquire Akron Bio for $151.8 Million

MaxCyte has agreed to acquire Akron BioProducts for $151.8 million from affiliates of Arcline Investment Management. MaxCyte expects the transaction to close before the end of 2026, subject to customary conditions. The consideration includes $105 million in cash, subject to adjustments, 20,639,733 MaxCyte shares valued at approximately $26.8 million, and $20 million of guaranteed deferred payments.

What will MaxCyte pay, and how will it finance the deal?

MaxCyte will pay the deferred amount in two $10 million installments in January 2028 and January 2029.

MaxCyte has secured a credit facility of up to $75 million from MidCap Financial, comprising a $55 million term loan and a $20 million revolver.

MaxCyte plans to draw $20 million from the term loan and $2 million from the revolver at closing. MaxCyte expects to hold approximately $40 million to $45 million in cash at closing, at least twice the $20 million term-loan draw.

Arcline Investment Management said:

Akron Bio’s success reflects the dedication of its team, and we believe MaxCyte is the best partner to drive continued growth and expand its impact on patients.

Our decision to accept MaxCyte shares as part of the consideration reflects our confidence in the combined company’s long-term value and allows us to participate in its future success.

What does MaxCyte gain from Akron?

MaxCyte says the acquisition will move it beyond its historical focus on nonviral cell engineering.

Akron Bio supplies Good Manufacturing Practice-grade reagents and ancillary materials that manufacturers use across viral and nonviral cell therapy workflows, extending the portfolio from cell expansion through cryopreservation.

Its portfolio includes cytokines, growth factors, human plasma-derived materials, specialty media and other consumables.

MaxCyte said the combined technologies are incorporated into five commercially approved therapies and support more than 100 clinical programs. Both businesses maintain drug master files referenced in customers’ regulatory submissions. MaxCyte says those files create long-term connections to validated manufacturing processes.

Maher Masoud, President and CEO of MaxCyte, said:

The acquisition of Akron marks an exciting new chapter for 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.

From day one, Akron provides us with an established portfolio of clinical and commercial programs supported by Akron’s DMFs and reagents.

By bringing together two highly complementary businesses, we are diversifying our revenue base, increasing our mix of recurring revenue and expanding our exposure to the growth of commercially approved cell therapies, positioning MaxCyte for more durable near- and long-term growth.

Like MaxCyte, Akron has become a trusted supplier to leading biopharma companies by delivering differentiated, high-quality products and best-in-class service.

Akron is a market leader in the mission-critical consumables required for cell therapy manufacturing, including cytokines, growth factors, human plasma-derived products and media.

We are excited to work alongside the talented Akron team as we bring together two companies to deepen customer relationships and better support cell therapy developers from development through commercialization.

MaxCyte says the companies have limited customer overlap despite serving similar biopharmaceutical markets. The company plans to use its commercial infrastructure to introduce Akron products to additional customers and pursue cross-selling opportunities.

How will the deal change revenue and cash burn?

Akron is expected to produce approximately $28 million in 2026 revenue and between $7 million and $8 million of EBITDA.

MaxCyte expects the acquisition to nearly double its revenue base, increase recurring consumables revenue, accelerate its path toward profitability and diversify the combined company’s revenue mix.

MaxCyte projects that Akron’s positive cash flow will reduce the combined company’s annual cash burn to less than $10 million in 2027.

Who will run Akron after closing?

Akron will continue operating under its existing brand, with its management team and employees remaining part of the combined organization under MaxCyte after the transaction closes.

Ezequiel Zylberberg, COO of Akron Bio, said:

We are tremendously excited by the opportunity to join these two world-class organizations, leveraging our collective experience and expertise to support our partners as they bring transformative therapies to patients around the world.

At Akron, we have always believed in earning our partners’ trust through consistent execution, uncompromising quality, and a deep commitment to the patients they serve.

As part of MaxCyte, we remain committed to delivering the quality, reliability, and innovation our partners have come to expect.

MaxCyte’s 2027 test will be whether cross-selling and Akron’s positive cash flow pull combined annual cash burn below $10 million.