Managing Strategic Growth
MaxCyte
The Client:
MaxCyte is an industry leader providing a proprietary cell-engineering platform to biopharmaceutical partners engaged in developing cell-based therapeutics as well as drug discovery and development, and biomanufacturing. The company’s customers include leading gene editing and immuno-oncology therapeutic developers.
The Challenge:
Based on the demand for its technology, MaxCyte has experienced consistent and significant business growth over many years and MaxCyte’s management identified several areas that had the potential to limit its ability to scale. They embarked on a strategy that included relocating to facility space more than double the size of its prior facilities, creating a new manufacturing capability for products that were previously fully outsourced, implementing industry-leading business processes, and building out the capabilities necessary to support in-house manufacturing, in particular enhanced use of the ERP system functionality.
The challenges of change management were clear. The business had to continue to grow, support customers, expand R&D capabilities, build out new manufacturing space, and continue an aggressive hiring campaign, all while continuing to service an expanding customer base. Resources could not be pulled off the day-to-day management of the business to oversee the projects needed to prepare for continued growth.
MaxCyte reached out to Maryland MEP to help manage these three major initiatives while allowing their internal resources to concentrate on execution and growing the business.
The Solution:
Maryland MEP was engaged to provide project management services to support the buildout and transition to the new facility, work with external consultants to develop and implement new business processes and help guide the expansion of the current ERP system. The new facility came online at several stages throughout 2022 with no interruption to the current operations. During the same period, Maryland MEP worked with outside consultants and internal stakeholders to develop and implement business processes to support the business’ growth. The enhanced ERP functionality is due to go online in Q1/2023.
Results & Impacts:
- Annual revenue growth from $10M
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Employee growth from 102 to 125 employees plus open requisitions for 15 new hires
(38 new employees) - Investment of $10.6 million
"Having the support of Maryland MEP, which gave us access to experienced project management skills without the need for the lead time or commitment of recruiting employees, was critical to the timely success of our move to more than doubling our facility space and expanding our manufacturing capabilities as part of that move, all in the midst of growing our business. We couldn’t have accomplished those goals on the timelines we required without Maryland MEP’s help."
