Gaithersburg, MD, United States
Gaithersburg, MD, United States

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Patent
Maxcyte Inc. | Date: 2015-04-13

Compositions and methods concern the sequence modification of an endogenous genomic DNA region. Certain aspects relate to a method for site-specific sequence modification of a target genomic DNA region in cells comprising: transfecting the cells by electroporation with a composition comprising (a) a DNA oligo and (b) a DNA digesting agent wherein the donor DNA comprises: (i) a homologous region comprising nucleic acid sequence homologous to the target genomic DNA region and (ii) a sequence modification region; and wherein the genomic DNA sequence is modified specifically at the target genomic DNA region.


Patent
Biogen, Maxcyte Inc. and Sangamo BioSciences | Date: 2016-11-09

Disclosed herein are methods and compositions for increasing RNA activity in a cell.


News Article | May 19, 2017
Site: globenewswire.com

Octopus AIM VCT plc, managed by Octopus Investments Limited, today announces the final results for the year ended 28 February 2017. These results were approved by the Board of Directors on 19 May 2017. You may view the Annual Report in full at www.octopusinvestments.com in due course. All other statutory information will also be found there. * Subject to shareholder approval at the Annual General Meeting, the proposed final dividend will be paid on 4 August 2017 to shareholders on the register on 7 July 2017. **Total return is calculated as (movement in NAV + dividends paid in the period) divided by the NAV at the beginning of the period. Chairman's Statement Introduction The year to 28 February 2017 has included a number of events which, in the opinion of many commentators, should have upset the stock market.  They included the UK's decision to leave the European Union, the outcome  of the US presidential election and widespread forecasts of a slowing rate of economic growth in the UK. However, that has not been the case. Both the Net Asset Value (NAV) and general market indices have made progress, and more recent forecasts have suggested that the UK's economic prospects might now be improving. During the year your company raised £14.3 million by the issue of new shares and a further £4.3 million has been raised since the year end. Your Company continued to buy back from selling shareholders. Board Composition As you will be aware, there were changes to the Board in the year following the retirement of Michael Reeve and Marion Sears. I would like to thank them both for their counsel and particularly acknowledge the role played by my predecessor in the growth of your Company since its inception which I believe has been in the interests of all shareholders, both past and present.  We are happy to have welcomed two new board directors, Joanne Parfrey and Neal Ransome, to join the Board.  Neal is Chairman of the Audit Committee. Performance Against a backdrop of generally improving market sentiment, the NAV has been able to make good progress in the year to 28 February 2017. Adding back the 5.0p of ordinary dividends paid out in the year, the NAV per share rose by 17.5%.  This compares with a rise in the AIM index of 33.1%, a rise in the FTSE All Share Index of 22.8% and a rise in the FTSE Smallcap Index ex Investment Trusts of 21.2%, all on a total return basis. In the interim accounts I reported that we had invested £2.1 million in qualifying holdings. In the second half of the year we invested a further £1.3 million in qualifying investments which comprised of a new holding in FreeAgent Holdings Plc together with two further follow-on investments into Microsaic Systems plc and Futura Medical plc. In addition we invested £8.9 million in non-qualifying holdings in the year, in order to put the funds raised to work in the market. We made disposals totalling £3.5 million realising a gain on prior year opening value of £1.2million. Further details of performance are contained in the Investment Manager's Review below. New VCT Rules It is now well over a year since the latest VCT regulations began to take effect and our Managers have adjusted to the new environment.  At this stage there has been little impact on the portfolio itself and no need to change investment policies.  That is a situation that may vary in the future, but any modification is likely to be evolutionary.  At present there are signs of a developing trend towards investing in smaller and earlier stage companies which fit the HMRC regulations. These may take a few years to contribute meaningfully to performance, given their early stage of development. Making follow-on investments has proved difficult on occasions and is one concern for the sector as a whole, which needs to be addressed by the authorities, since the inability to support existing investments seems to invalidate much of the purpose of VCTs and to undermine the potential for growth in the UK economy. Dividends An interim dividend of 2.5p was paid to shareholders in January 2017 in addition to the 2.5p final dividend that had been paid in July 2016. It is your Board's intention to continue to pay a minimum of 2.5p each half year and to adjust the final dividend annually, based on the year-end share price, so that shareholders receive either 5p per annum or a 5% yield, whichever is the greater at the time. This will enable dividends to progress with a rising NAV, whilst maintaining the minimum historic level. With respect to the year to February 2017 your Board has so far declared and paid an interim dividend of 2.5p and now has pleasure in recommending a final dividend of 3.0p, which brings the total dividend for the year to 5.5p which is higher than an annualised yield of 5%, based on the share price of 108.75p on 28 February 2017. Dividend Reinvestment scheme In common with many other VCTs in the industry, your Company has established a Dividend Reinvestment Scheme (DRIS).  Some shareholders have already taken advantage of this opportunity. For investors who do not need income, but value the additional tax relief on their reinvested dividends, this is an attractive scheme and I hope more shareholders will find it useful. In the course of the year 467,393 new shares have been issued under this scheme. The dividend referred to above will be eligible for the DRIS. Share Buybacks During the year to 28 February 2017 your Company continued to buy back shares in the market from selling shareholders and purchased 2,059,061 Ordinary shares for a total consideration of £2,054,339. We have maintained a discount of approximately 4.5% (equating to a 5.0% discount to the selling shareholder after costs), which your Board monitors and intends to retain as a policy which fairly balances the interests of both remaining and selling shareholders. Buybacks remain an essential practice for VCTs as providing a means of selling is an important part of the initial investment decision and has enabled your Company to grow. As such therefore I hope you will all support the appropriate resolution at the AGM. Share Issues In the year to 28 February 2017 we have raised a total of £14.3 million of new capital in two offers. A prospectus was published on 21 December 2015, which allowed for a maximum of £20 million to be raised. This offer closed on 3 October 2016 having raised £18 million in total, although only £14 million of this fell into the Company's accounting year. Your Board also launched a small £4.3 million Top-up issue on 6 February 2017, which closed fully subscribed on 27 February 2017 and was well supported by existing shareholders. This resulted in the issue of 3,649,371 new Ordinary shares.  It would be the Board's present intention to have a fund raising each year and details will be sent to you when they are next available. VCT Status PricewaterhouseCoopers LLP provides your Board and Investment Manager with advice concerning continuing compliance with HMRC regulations for VCTs. Your Board has been advised that Octopus AIM VCT is in compliance with the conditions laid down by HMRC for maintaining approval as a VCT. A key requirement is to maintain at least a 70% qualifying investment level. As at 28 February 2017 some 88.61% of the portfolio as measured by HMRC rules was invested in qualifying investments. Risks and uncertainties In accordance with the Listing Rules under which your Company operates your Board has to comment on the potential risks and uncertainties which could have a material impact on the Company's performance. A risk arises from the requirement to maintain compliance with HMRC regulations requiring 70% of your Company's assets to be invested in qualifying holdings. Other risks include economic conditions which impact particularly on smaller companies in which your Company invests and this could have an adverse impact on share prices. Further details of the risks faced by the Company and the processes in place to mitigate them are set out in the Business Review within the full Annual Report and Accounts. Annual General Meeting The Annual General Meeting will be held on 20 July 2017. I very much hope that you will be able to come. After the formal business our Investment Managers will make a presentation. At the Annual General Meeting, a resolution will be proposed to extend the life of the Company until 2022 in order to preserve the VCT status of the Company for the benefit of both existing shareholders and new investors participating in the present share offer. Outlook There are a number of short term uncertainties at present which make forecasting more difficult than usual. We must hope that they do not combine to undermine investor confidence, although it seems unlikely that they will disrupt the good trading of many of your Company's holdings in the remainder of this new financial year.  It is encouraging that the NAV has continued to rise since the year end and was 119.5p as at 30 April 2017.  The flow of VCT qualifying deals has also picked up after a slow start to 2017, and your Manager has made four further qualifying investments totalling £2.6 million since the year end. I look forward to seeing as many of you as possible at the Annual General Meeting at 11 am on 20 July 2017. Introduction In a year in which some significant economic and political events have taken markets by surprise, the expectation that volatility would follow as a consequence has been confounded by a stronger market, particularly towards the end of the year to 28 February 2017. All indices have risen, particularly in the last few months of the year. Large companies with overseas earnings had a particularly strong period of performance after the Referendum in June 2016 as Sterling fell and the oil price began to recover. However, smaller companies have also performed well, so we are pleased to report a rise in the NAV and the maintenance of the 5% yield objective. The year to 28 February 2017 has continued to see AIM raise new capital for companies, both already quoted and new flotations and your Company has invested steadily throughout the year as well as raising new capital for future investments. The prospectus offer closed in October 2016 and we have recently closed the Top-Up offer for £4.3 million to give existing and new shareholders a chance to invest in the current tax year. We are starting to see the number of VCT qualifying investment opportunities rise, after a slow start to this year. The Alternative Investment Market Despite some volatility in the first half of the financial year, the FTSE AIM All-Share Index rose in that period. The rise in the second half of the year was more consistent and felt stronger, but in fact the rise in the second half of 14.6% compared with an increase of 14.1% in the first half. Contributing particularly strongly to the rise in the AIM index were both the oil and resources sectors, whose indices rose by approximately 57% and 71%. Share trading volumes also picked up, helped by a sense of stability, if not outright confidence, despite the result of the Referendum to leave the EU.  Smaller companies continued to be seen as an increasingly attractive asset class. In addition, September 2016 saw a reasonable results season confirming that for many smaller companies the economy remained supportive. Against that background the number of AIM companies has shrunk further, to 973 at 28 February 2017, compared to 1,029 a year earlier. However, we believe that the quality has continued to rise and see nothing fundamentally wrong with AIM just because it has fewer companies on the market. New issues in the last twelve months include such names as Joules, the clothing manufacturer and retailer, and Hotel Chocolat, the chocolatier.  AIM remains the UK stock market of choice for smaller growing companies. AIM listed companies have continued to raise new capital throughout the year. In the twelve months to 28 February 2017 AIM raised a further £3.6 billion of new capital for existing companies and a total of £1.1 billion for new companies floating on the market. Although the level of fundraising for existing companies was lower than last year, these figures show conclusively that AIM remains open for the funding of good growth companies and continues to attract new entrants. VCTs play a significant part in that funding process and we identify below the companies we have invested in during the second half of the year. Performance Adding back the dividends paid during the year to show the total return, the Net Asset Value increased in the year, giving a total return of 17.5%. This compares with a total return for the FTSE Smallcap Index ex Investment Trusts of 21.2% and for AIM of 33.1% and the FTSE All Share Index of 22.8% in the twelve month period.  Individual months in the year under review saw share prices suffering significant bouts of volatility and the market has generally remained wary for most of the year of smaller companies which have yet to make a profit, although more established companies, which have outperformed expectations, have been well rewarded by rising prices. While the rise in NAV is encouraging, it fell short of the performance of the AIM Index, which has been driven particularly by some sectors, such as resources and oil and gas, in which your Company is unable under VCT rules to make direct investments, and which have risen by 57% and 71% respectively. The FTSE Smallcap Index ex Investment Trusts, which rose less than the AIM Index, is probably more representative of the types of companies in which this VCT invests, as we have remarked before, and its performance was more comparable to the rise in the NAV. The FTSE Smallcap Index ex Investment Trusts is made up of fully-listed stocks and does not, therefore, have the smaller pre-profit companies that we have in your portfolio. Within the portfolio there was once again a good contribution from the more established and already profitable companies which includes many of the individual non-qualifying holdings such as RWS, Abcam, Next Fifteen and Gooch and Housego. However, the polarisation we talked about in the interim statement persisted with companies deemed to be exposed to the 'Brexit effect', such as Staffline and Vertu Motors, continuing to underperform despite producing decent figures and encouraging trading statements.  In addition Tasty's exposure to rising costs caused it to re-evaluate some of its new opening pipeline and raise extra funds to reduce its debt financing, all of which caused its shares to underperform.  We do not share the market's current pessimism about these companies, which have been held in the portfolio for a number of years and where the management teams have successfully grown in challenging economic conditions in the past. We believe that their share prices will recover as they deliver on their growth plans. Elsewhere, underperformance came from the earlier stage companies in the portfolio, particularly those that had setbacks or showed themselves in need of further cash to reach profitability. Nektan, Oxford Pharmascience and Microsaic all performed poorly in the year.  Nektan raised new capital in December and Microsaic had a fundraising where we made a further investment to support the management team who believe they now have a product which they can sell.  Oxford Pharmascience is trading at around the £21 million value of cash in the balance sheet reflecting disappointment that it has so far failed to negotiate a licensing deal for its taste masking technology for NSAIDS. The other poor performers were TLA where a bid and a move to Nasdaq had boosted the shares for much of 2016 and Midatech, which has now raised £16 million in new funds which should be sufficient to finance the business to profitability. There were several corporate developments during the year. Breedon completed the acquisition of Hope, doubling the size of the business and giving it a much prized cement railhead into London. GB Group also made an important acquisition in scanning technology and, although its shares suffered a setback on the news that revenue growth would be affected by the slow roll-out of a UK Government contract, the holding remained a strong performer. Ergomed raised money and acquired another pharmacovigilance business in a very earnings enhancing deal, which was much better received by the market than its earlier acquisition of Haemostatix, and the shares have started to recover.  Idox, EKF and Animalcare were all positive contributors to performance after their core businesses started to show growth after a period of consolidation. In EKF's case this was after the business was pared back to its core and re-focussed under the direction of the new Chairman. Several shares performed particularly well as the underlying businesses demonstrated that they were delivering on, or ahead of, their plans at the time that we invested.  Gear4music is now a profitable business with a third of its revenues coming from Europe and growing at more than 50% in the current year.  DP Poland has also finally demonstrated that the Domino's model works in Poland and is now signing up sub-franchisees for new sites.  Quixant has also increased its customer base and has had several upgrades to its forecasts this year, making it the biggest positive contributor to the fund's performance this year. Craneware has also re-established its growth credentials although it has had more of a roller-coaster performance as it outperformed on the back of weak sterling before underperforming on fears over changes to the US healthcare market under President Trump, although the shares have since recovered helped by news of new contracts. The non-qualifying element of the equity portfolio also did well in the year as our existing strategy of investing in larger more liquid, profitable companies to counterbalance new earlier stage qualifying holdings continued to pay off. We have now supplemented these with holdings in Octopus Portfolio Manager and the FP Octopus Micro Cap Growth funds to manage liquidity, while cash is awaiting investment. Portfolio Activity Having made four new qualifying investments in the first half of the year, we added three further qualifying holdings in the second half.  Of these one was new, FreeAgent Holdings, into which we invested just under £0.3 million in a popular issue and the others were additions to Microsaic and Futura Medical. These two added up to just under £1 million. This made a total investment of £3.4 million in qualifying investments in the year to 28 February 2017, which was considerably lower than last year's £5.9 million reflecting slightly lower levels of fundraising activity on AIM and the short term effects of digesting the new VCT rules.  The new holding, FreeAgent, is a supplier of cloud based accounting software sold as a service to enable sole traders and small businesses to file their tax returns on line or via mobile.  It is expected to be profitable for the year to March 2019. We have also invested a proportion of our newly raised cash in non-qualifying holdings with a view to improving returns by putting liquid assets to work. In total we invested £8.9 million into new non-qualifying holdings in the year. There were no major disposals in the year, although we took the opportunity to dispose of some of the smaller holdings that were not contributing to performance. Thus we sold Vianet, Tanfield and Lombard Medical each at a loss and accepted the offer for Tangent Communications, also realising a loss. We also sold Altitude realising a profit and, at the end of a protracted process, accepted the offer for Bond International.  All being well this sale will produce a very small further sum in 2018. We have taken profits from a number of holdings, such as Vectura, Abcam, WANdisco and Futura, although in this latter case we subsequently re-invested in the company's most recent fundraising. In total during the year we made disposals of £3.5 million realising a gain on prior year opening value of £1.2m. Since the year end, we have seen a pick up in the number of fundraisings on AIM and have invested in four new qualifying holdings.  They are Escape Hunt, a leisure company, into which we have invested £1 million, Velocity Composites where we invested £0.8 million, Maxcyte, a healthcare company, where we invested £0.5 million and  Faron Pharmaceuticals where we invested £0.3 million. Further details of the post year end transactions are provided in Note 18 to the financial statements. New VCT Regulations During the year under review, to 28 February 2017, we were required to assimilate the consequences of the new rules established in the Summer Budget of 2015. We have not found that there needed to be any material change to our investment approach.  We are determined to maintain a threshold of quality and to invest where we see returns from growth. However, the emphasis of the regulations is definitely to encourage investment into earlier stage companies and to that extent, it seems highly likely over a number of years, that the portfolio will see a rise in the number of smaller companies receiving our initial investment. We would hope and expect to invest further in those companies as they grow. To summarise the changes, in order to qualify companies must: Although there is a longer period and higher funding limit allowed for knowledge intensive companies, it seems possible that a new funding gap will open up for smaller companies, which reach their funding limit, but which are still in a development phase.  This would particularly affect a company which has failed, for whatever reason, to qualify as a knowledge intensive one. It is also possible that capital intensive companies, which potentially form a key part of the new government's industrial strategy, will face funding challenges as VCTs will not be able to follow on with further investment and the companies may be too small to attract investment from more conventional and larger institutional investors. This financing issue is probably a long way down any government department's list of priorities, but it is to be hoped that the funding gap fails to materialise for any of our holdings. One of our major and consistent reasons for refusing to invest is the belief that a company is not raising enough capital at a particular time.  We will persist with that criterion. Outlook & Future Prospects Markets have enjoyed a strong start to 2017, buoyed by better than expected economic growth figures and a sense of relief that the immediate disaster predicted by those opposing the decision to exit the European Union has not materialised.  However, political and macro-economic issues remain and newspaper headlines are still dominated by speculation about Brexit's eventual impact on our economy as well as the shape of our future relationships with Europe and the rest of the world. These questions are unlikely to be settled quickly, and it seems therefore that investors have to be prepared for bouts of uncertainty and volatility. On the plus side, the rising level of confidence has resulted in an increased interest in smaller companies and support for fundraisings through March and April, and there are no immediate signs of this reversing. We remain confident that smaller companies can continue to grow. The dominant theme of the recent reporting season with a few exceptions was confident trading statements that led to forecast upgrades.  In the immediate future there is no economic upset to that trend, and any impact from Brexit itself will be felt much further into the future than February 2018. The portfolio now contains 76 holdings with investments across a range of sectors including several such as Craneware, Gooch and Housego, Gear4music, Clinigen, Cello, DP Poland and GB Group, which have significant international exposure. Domestic companies such as Breedon, Vertu and Staffline have already demonstrated their management's ability to grow their businesses successfully in difficult economic conditions, and the latter two should see scope for further share price recovery if they continue to meet market expectations.  The balance of the portfolio still remains towards profitable companies, with several expected to start paying dividends in 2017.  The top-up fundraising for £4.3 million adds to the funds available for new investments and allows us to take advantage of any dip in valuations should sentiment weaken in the future. We will, as we have in the past, remain selective when viewing new investment opportunities. The AIM Team Octopus Investments Limited 19 May 2017 Directors' Responsibilities Statement The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.    Company law requires the Directors to prepare financial statements for each financial year.  Under that law the Directors are required to prepare the financial statements and have elected to prepare the Company's financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 - "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss for the Company for that period. In preparing these financial statements, the Directors are required to: The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors are responsible for ensuring that the annual report and accounts, taken as a whole, are fair, balanced, understandable and provide the information necessary for shareholders to assess the Company's position and performance, business model and strategy. Website Publication The Directors are responsible for ensuring the Annual Report and the financial statements are made available on a website.  Financial statements are published on the Company's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions.  The maintenance and integrity of the Company's website is the responsibility of the Directors.  The Directors' responsibility also extends to the ongoing integrity of the financial statements contained therein. Directors' Responsibility Statement pursuant to DTR4 Roger Smith (Chairman), Stephen Hazell-Smith, Joanne Parfrey and Neal Ransome the Directors, confirm to the best of their knowledge that: For and on behalf of the Board The Company has no recognised gains or losses other than the results for the period as set out above. Accordingly a Statement of Comprehensive Income is not required. The statements were approved by the Directors and authorised for issue on 19 May 2017 and are signed on their behalf by: Statement of Changes in Equity *Included in these reserves is an amount of £26,130,000 (2016: £33,899,000) which is considered distributable to shareholders.


News Article | May 24, 2017
Site: globenewswire.com

Hargreave Hale AIM VCT 1 Plc Unaudited Interim Results for the six month period ending 31 March 2017 * 30 September 2016 financial highlights represent annual results ** Calculated as total expenses (annualised for half yearly results) minus ad hoc legal costs and adjusted for trail commission written off, divided by period end net assets INVESTMENT OBJECTIVE The objective of the VCT is to achieve long term capital growth and to maximise tax free distributions to shareholders by investing in a diversified portfolio of small UK companies primarily traded on AIM. At least 70% of the Company's funds must be invested in qualifying holdings within three years of raising the funds. The balance of the Company's funds will be invested in liquid assets (such as fixed income securities and bank deposits) and non-qualifying equity investments on an opportunistic basis. The Company is managed as a Venture Capital Trust in order that shareholders in the Company may benefit from the tax relief available. INTRODUCTION In the first half of the financial year the Net Asset Value (NAV) per share increased from 75.93 pence to 78.12 pence equivalent to an increase of 5.8% after adding back the 2.25 pence dividend distributed in January 2017. During the same period the FTSE 100 Total Return Index rose 8.1% and the FTSE AIM All Share Total Return Index rose 14.3%. RESULTS The gain per share for the six month period was 3.98 pence per share (comprising revenue losses of 0.14 pence and capital gains of 4.12 pence). At 31 March 2017 the total return since inception of the fund was 122.37 pence. INVESTMENTS The investment manager, Hargreave Hale Limited, invested a further £3.44 million in 9 qualifying companies during the period of which 6 were AIM companies and 3 unquoted. The fair value of qualifying investments at 31 March 2017 was £33.33 million invested in 69 AIM companies and 10 unquoted companies. The balance of the funds was held in a mix of cash and non-qualifying equities. At 31 March 2017 the VCT was 87.30% invested as measured by HMRC. DIVIDEND A final dividend for the year ended 30 September 2016 of 2.25 pence was paid on 17 January 2017. The directors continue to maintain a policy of distributing at least 5% of the year end NAV to shareholders. An interim dividend of 1.75 pence (2016: 1.75p) will be paid on 30 June 2017, with an ex-dividend date of 8 June 2017 and a record date of 9 June 2017. BUYBACKS We have been able to maintain our policy of offering our shareholders an efficient exit route through the buyback scheme. In total, 318,221 shares were repurchased during the six month period ending 31 March 2017 at a weighted average price of 74.59 pence per share. Since the period a further 206,867 shares have been repurchased at a weighted average price of 76.07 pence. The Board continues to target a share price discount of 5% of the NAV per share (as measured against the mid-price) for market purchases. It should be emphasised that this target is non-binding and dependent on circumstances, including the Company's liquidity from time to time and market conditions. JOINT OFFER FOR SUBSCRIPTION - 2015 On 17 November 2016 the joint offer for subscription for new shares in Hargreave Hale AIM VCT 1 plc and Hargreave Hale AIM VCT 2 plc (launched in December 2015) was closed with £12.46 million raised for Hargreave Hale AIM VCT 1 plc. JOINT OFFER FOR SUBSCRIPTION - 2016 The Directors of the Company announced on 14 December 2016 the launch of a new joint offer for subscription for shares in both Hargreave Hale AIM VCTs to raise up to £10 million in the Company and up to £10 million in Hargreave Hale AIM VCT 2 plc. The offer was approved by shareholders of the Company at a general meeting on 12 January 2017 and was open to both new and existing shareholders. On 9 March 2017 Hargreave Hale AIM VCT 1 plc announced that it had received applications in excess of £10 million and, accordingly, the directors of Hargreave Hale AIM VCT 1 plc announced that they intended to utilise the £5 million Over-Allotment Facility. On 15 March 2017 the Company announced that the offer was fully subscribed, resulting in gross funds being received of £15 million and the issue of 18.96 million new shares in the Company. I am pleased to report that an immediate effect is that the ongoing expense ratio has dropped from 1.99% in September 2016 to 1.83% as at 31 March 2017. VCT REGULATION In order to comply with EU regulations regarding State Aid, the VCT rules were subject to substantial changes in the budget on 8 July 2015, which came into effect on 18 November 2015. In the round we do not think these rules have greatly affected the Company, although we will no longer be able to make non-qualifying investments in companies listed on AIM or UK government bonds. We are able to continue to invest via the Marlborough Special Situations Fund and we are free to invest in companies listed on the main market. BOARD CHANGES Giles Hargreave resigned as a director of the Company on 13 December 2016. I would like to take this opportunity to thank Giles for all his hard work on the Board. Following the resignation of Giles Hargreave, Oliver Bedford was appointed as a non-executive director of the Company on 13 December 2016. I am pleased to report that Giles still works for the manager and that we still benefit from his expertise and sagacity. ELECTRONIC COMMUNICATIONS Following approval at a general meeting on 12 January 2017, the Company has adopted electronic communications. Your Board believes this is beneficial to the Company and its shareholders and will result in substantial cost savings and improved timeliness and transparency of communications. AUDIT TENDER As announced in the annual report and accounts for the year ended 30 September 2016 a mandatory audit tender is required in the current year. I am pleased to confirm the process is underway and a further update will be given in due course. OUTLOOK The outcome of the American elections and Brexit vote does not appear to have had an adverse effect on the stock markets and the drop in the value of sterling seems to have a beneficial effect on exports and the balance of trade.  After the results of recent polls around the world I am reluctant to publish my views on the outcome of the forthcoming election! For the next two years it seems that we will suffer the media's fascination with the Brexit negotiations. Given that the EU has only managed to negotiate one trade deal, Canada, in the last 10 or so years it is hard to believe that the UK will achieve much in two. This will have little effect in the short term but may make the markets more volatile in the longer term. We continue to invest in companies with good management and robust business plans that we hope will weather any storms. Furthermore we are seeing more private equity opportunities in sound companies with future growth and these will not be affected by the vagaries of the market. INTRODUCTION This report covers the first half of the 2016/17 financial year, 1 October 2016 to 31 March 2017. The manager's report contains references to movements in the Net Asset Value (NAV) per share and Total Return per share (NAV per share plus distributed earnings per share). Movements in the NAV per share do not necessarily mirror the earnings per share (EPS) reported in the accounts and elsewhere, which convey the profit after tax for the company within the reported period as a function of the weighted average number of shares in issue for the period. INVESTMENT REPORT The period under review was a strong period for equities with markets taking Trump's election as the US President as a substantial positive despite the many political uncertainties that accompanied his victory.  Politics aside, global economic growth was robust, with US GDP growth and low interest rates leading developed markets higher. Although not new news, ongoing weakness in sterling helped UK equities continue their strong run with foreign earnings providing a welcome earnings kicker for export orientated companies. By and large, VCT regulations channel us into small domestically focussed growth stories, so we were unable to fully benefit from the trend that persisted through much of the first quarter of the financial year, although we did derive some benefit through companies such as Abcam and Craneware, as well as parts of our non-qualifying portfolio.  The positive mood within the major indices filtered down the chain and the second quarter saw a beneficial uptick in risk sentiment within smallcap equities, which favoured our qualifying investments. The second half of the financial year has already thrown up a number of risks and surprises, the French and UK elections being the most recent examples.  Doubtless there will be more; however, for now the UK economy feels strong enough and, although we have seen some evidence of weakness within the housing market and elements of the casual dining sub-sector, by and large the macro picture remains workable.  We expect the UK consumer to be more challenged this year as real wage growth turns negative, with some weakness already showing up in consumer confidence data. But in the round, we find most companies to be positive about the outlook and there seems to be reasonable demand for new capital to support their growth and development. PERFORMANCE In the six months to 31 March 2017, the NAV increased from 75.93 pence to 78.12 pence. A total of 2.25 pence per share was paid in dividends, giving investors a total return of 4.44 pence per share, which translates to a gain of 5.8%. During the same period the FTSE AIM All-Share Total Return gained 14.3%, whilst the FTSE 100 Total Return gained 8.1%. The qualifying investments made a net contribution of 2.86 pence per share with 34 out of the 79 making gains, 11 unchanged and 34 losing ground. The balance was the net of non-qualifying portfolio gains, running costs and investment income. Cohort was the top performing qualifying investment (+38.7%, +0.90 pence per share). The company confirmed the outlook for the year ending April 2017 and announced a series of material contract wins.  The company has a significant net cash balance and remains well positioned to benefit from structural growth in defence spending on specific technologies and platforms.  Animalcare also performed well (+55.4%, +0.82 pence per share). The company delivered a very strong trading update in January, prompting analysts to upgrade numbers. Product development and international sales are translating through to growth in revenues and profits. Maxcyte (+219.3%, +0.73 pence per share), Quixant (+40.7%, +0.55 pence per share) and Learning Technologies Group (+29.7%, +0.48 pence per share) were all also significant contributors over the period. The biggest (unrealised) losses within the period came from TrakM8 (-60.0%, -0.88 pence per share) and K3 Business Technology (-29.0%, -0.48 pence per share).  TrakM8 announced a material profit downgrade after contract deferrals left the company exposed to an overhead that was outsized relative to the revised revenue outcome. K3 Business Technology was another company to report softer market conditions and lengthening sales cycles.  Other losses came from Instem Life (-42.0%, -0.34 pence per share) and Tasty (-51.7%, -0.30 pence per share), all of which pared back their profit guidance. We invested £3.44m into 9 qualifying companies over the period, including 3 further investments into existing qualifying companies; 3 IPOs and 3 additional private investments. Within the qualifying portfolio, several investee companies experienced strong runs in the market, which led us to make partial disposals in Abcam, Craneware, Creo, Directa Plus, DP Poland, ECSC, Loop Up, Maxcyte and Surface Transforms. PORTFOLIO STRUCTURE The VCT is comfortably through the HMRC defined investment test and ended the period at 87.30% invested as measured by the HMRC investment test. By market value, the VCT had a 52.4% weighting to qualifying investments. The allocation to non-qualifying equity investments increased marginally from 15.4% to 18.9%.  We continued to make use of the Marlborough Special Situations Fund as a temporary home for proceeds from fundraising, lifting the allocation from 4.7% to 10.2%. The non-qualifying investments contributed +2.03 pence per share to the overall gains. We sold our remaining fixed income investment and kept cash steady at 18.8%. The HMRC investment tests are set out in Chapter 3 of Part 6 Income Tax Act 2007, which should be read in conjunction with this section of the investment manager's report. Funds raised by VCTs are first included in the investment tests from the start of the accounting period containing the third anniversary of the date on which the funds were raised. Therefore, the allocation of qualifying investments as defined by the legislation can be different to the portfolio weighting as measured by market value relative to the net assets of the VCT. POST HALF YEAR UPDATE Deal flow has been good since period end with 4 new qualifying investments made, 1 as a follow-on investment into an existing qualifying holding and 3 into new qualifying companies. We also have several deals in the pipeline which we expect to complete in the coming weeks. NAV performance has also been good post period end, with the net asset per share gaining 4.4% to 81.55 pence. The majority of listed investments held within the portfolio are listed, headquartered and registered in the UK with the exception of the following: TOP TEN INVESTMENTS As at 31 March 2017 (By Market Value) The top 10 equity investments are shown below; each is valued by reference to the bid price, or, in the case of unquoted companies, values are either based on the last arm's length transaction or valuation techniques, such as earnings multiples. Forecasts, where given, are drawn from a combination of broker research and/or Bloomberg consensus forecasts and exclude amortisation, share based payments and exceptional items. Forecasts are in relation to a period end for which the company results are yet to be released. The net cash values are drawn from published accounts in most cases. For further information please contact: STATEMENT OF DIRECTORS' RESPONSIBILITIES in respect of the half-yearly financial report In accordance with Disclosure Transparency Rule (DTR) 4.2.10, Aubrey Brocklebank Bt (Chairman), David Brock and Oliver Bedford, the Directors, confirm that to the best of their knowledge: On behalf of the Board of Directors. CONDENSED INCOME STATEMENT for the six month period to 31 March 2017 (unaudited) The total column of this statement is the income statement of the Company. All revenue and capital items in the above statement derive from continuing operations. The Company has no other comprehensive income other than the results for the six month period as set out above. The accompanying notes are an integral part of these financial statements. The total column of this statement is the income statement of the Company. All revenue and capital items in the above statement derive from continuing operations. The Company has no other comprehensive income other than the results for the year as set out above. The accompanying notes are an integral part of these financial statements. The accompanying notes are an integral part of these financial statements. CONDENSED STATEMENT OF CHANGES IN EQUITY for the six month period to 31 March 2017 (unaudited) Reserves available for distribution are capital reserve realised, special reserve and revenue reserve. Total distributable reserves at 31 March 2017 were £13.61 million.  The accompanying notes are an integral part of these financial statements. CONDENSED STATEMENT OF CHANGES IN EQUITY for the six month period to 31 March 2016 (unaudited) Reserves available for distribution are capital reserve realised, special reserve and revenue reserve. Total distributable reserves at 31 March 2016 were £16.89 million.  The accompanying notes are an integral part of these financial statements. CONDENSED STATEMENT OF CHANGES IN EQUITY for the year ended 30 September 2016 (audited) Reserves available for distribution are capital reserve realised, special reserve and revenue reserve. Total distributable reserves at 30 September 2016 were £14.93 million.  The accompanying notes are an integral part of these financial statements. CONDENSED STATEMENT OF CASH FLOWS for the six month period to 31 March 2017 (unaudited) The accompanying notes are an integral part of these financial statements. EXPLANATORY NOTES for the six month period to 31 March 2017 (unaudited) A summary of the principal accounting policies, all of which have been applied consistently throughout the period, is set out below: Basis of preparation The Company has prepared its half-yearly financial results for the six month period ending 31 March 2017 in accordance with Financial Reporting Standard 104 (FRS104) and the Statement of Recommended Practice for "Financial Statements of Investment Trust Companies and Venture Capital Trusts" (the SORP). The same accounting policies and methods of computation are followed in the half-yearly financial results as compared with the most recent annual financial statements. Investments All investments are classified as fair value through profit or loss. Investments are measured initially and subsequently at fair value which is deemed to be bid market prices for listed investments and investments traded on AIM. Unquoted investments are valued using the most appropriate methodology recommended by the International Private Equity Venture Capital ("IPEV") guidelines. Where the classification of a financial instrument requires it to be stated at fair value, this is determined by reference to the quoted bid price in an active market wherever possible. Where no such active market exists for the particular asset or liability the Company holds the investment at cost for a period where there is considered to be no change in fair value. Valuations of unquoted investments are reviewed on a six monthly basis and more frequently if events occur that could have a material impact on the investment. Where cost is no longer considered appropriate the Company will use a value indicated by a material arms-length transaction by an independent third party in the shares of a company. Where no such transaction exists the Company will use the most appropriate valuation technique including discounted cash flow analysis, earnings multiples, net assets and industry valuation benchmarks. All inputs are market observable with the exception of level C financial instruments. Investments are recognised and derecognised at trade date where a purchase or sale is under a contract whose terms require delivery within the time frame established by the market concerned. Purchases and sales of unlisted investments are recognised when the contract for acquisition or sale becomes unconditional. Transaction costs are included in the initial book cost or deducted from the disposal proceeds as appropriate. These investments will be managed and their performance evaluated on a fair value basis in accordance with a documented investment strategy and information about them is provided internally on that basis to the Board. Gains and losses arising from changes in fair value (realised and unrealised) are included in the net profit or loss for the period as a capital item in the income statement and are taken to the unrealised capital reserve or realised capital reserve as appropriate. If an investment has been impaired such that there is no realistic expectation that there will be a full return from the investment, the loss is treated as a permanent impairment and transferred to the capital reserve realised. Financial Instruments - fair value measurement hierarchy FRS 102 requires certain disclosures which require the classification of financial assets and financial liabilities measured at fair value using a fair value hierarchy that reflects the significance of the inputs used in making the fair value measurement.                   The fair value hierarchy has the following levels: Key judgements and estimates The preparation of the financial statements requires the Board to make judgements and estimates that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Key estimation uncertainties mainly relate to the fair valuation of unquoted investments, which are based on historical experience and other factors that are considered reasonable including the transfer price of the most recent transaction on an arm's length basis. The estimates are under continuous review with particular attention paid to the carrying value of the investments. The process of estimation is also affected by the determination of the fair value hierarchy.                   Income         Equity dividends are taken into account on the ex-dividend date, net of any associated tax credit. Fixed returns on non-equity shares and debt securities are recognised on a time apportionment basis so as to reflect the effective yield, provided there is no reasonable doubt that payment will be received in due course. All other income, including deposit interest receivable, is recognised on an accruals basis. All revenue and capital items in the unaudited income statement derive from continuing operations. There are no other items of comprehensive income other than those disclosed in the unaudited income statement.                   Expenditure         All expenditure is accounted for on an accruals basis. 75% of management fees are allocated to the capital reserve realised and 25% to the revenue account in line with the Board's expected long term split of investment returns in the form of capital gains to the capital column of the income statement. All other expenditure is charged to the revenue account.                   Trail commission         Trail commission previously due is held as a creditor until such time as claims are made by the relevant intermediary and supporting documentation provided. If claims are not received these amounts are written off after a period of six years.                   Capital reserves         Realised profits and losses on the disposal of investments, due diligence costs and income in relation to private company investments, losses realised on investments considered to be permanently impaired and 75% of investment management fees are accounted for in the capital reserve realised.                   Increases and decreases in the valuation of investments held at the year end are accounted for in the capital reserve unrealised.                   Operating segments         There is considered to be one operating segment as reported to the chief operating decision maker being investment in equity and debt securities.                   Taxation         Deferred tax is recognised in respect of all timing differences that have originated but not yet reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that recovery is probable in the foreseeable future.                   Current tax is expected tax payable on the taxable revenue for the period using the current tax rate. The tax effect of different items of income and expenditure is allocated between capital and revenue on the same basis as the particular item to which it relates.                   Approved VCTs are exempt from tax on capital gains from the sale of fixed asset investments. The Directors intend that the Company will continue to conduct its affairs to maintain its VCT status, no deferred tax has been provided in respect of any capital gains or losses arising from the revaluation or disposal of investments.                   Dividends         Only dividends recognised during the year are deducted from revenue or capital reserves. Final and interim dividends are recognised in the accounts when the Company's liability to pay them has been established.                   Summary of dividends paid in the six months to 31 March 2017 and the financial year ending 30 September 2016 are detailed below: Functional currency In accordance with FRS 102 s.30, the Company is required to nominate a functional currency, being the currency in which the Company predominantly operates. The Board has determined that sterling is the Company's functional currency. Sterling is also the currency in which these accounts are presented. Repurchase of shares to hold in treasury The cost of repurchasing shares into treasury, including the related stamp duty and transaction costs is charged to special reserve and dealt with in the statement of changes in equity. Share repurchase transactions are accounted for on a trade date basis. Where shares held in treasury are subsequently cancelled, the nominal value of those shares is transferred out of share capital and into capital redemption reserve. Should shares held in treasury be reissued, the sale proceeds will be treated as a realised profit up to the amount of the purchase price of those shares and will be transferred to capital reserves. The excess of the sale proceeds over the purchase price will be transferred to share premium. Contingencies, guarantees and financial commitments  There were no contingencies, guarantees or financial commitments of the Company at 31 March 2017.  Legal form and principal activities The Company was incorporated and registered in England and Wales on 16 August 2004 under the Companies Act 1985, registered number 5206425. The Company has been approved as a Venture Capital Trust by HMRC under section 259 of the Income Taxes Act 2007. The shares of the Company were first admitted to the Official List of the UK Listing Authority and trading on the London Stock Exchange on 29 October 2004 and can be found under the TIDM code "HHV". The Company is premium listed. The Company's principal activity is to invest in a diversified portfolio of qualifying small UK based companies, primarily trading on AIM, with a view to maximising tax free dividend distributions to shareholders. The Company is an externally managed fund with a Board comprising of three non-executive directors. Hargreave Hale Limited acts as investment manager, administrator and custodian to the Company and provide the company secretary. The Board has overall responsibility for the Company's affairs including the determination of its investment policy, however, the Board may exercise these responsibilities through delegation to Hargreave Hale as it considers appropriate. The Directors have managed and continue to manage the Company's affairs in such a manner as to comply with Section 259 of the Income Taxes Act 2007. Share capital Ordinary shares are classed as equity. The ordinary shares in issue have a nominal value of one pence and carry one vote each. Reserves A description of each of the reserves follows: Share premium This reserve represents the difference between the issue price of shares and the nominal value of shares at the date of issue, net of related issue costs. Capital redemption reserve This reserve is used for the cancellation of shares bought back under the buyback facility. Special reserve Distributable reserve used to pay dividends and re-purchase shares under the buyback facility. Capital reserve realised Gains/losses on disposal of investments, due diligence costs and income from private company investments, permanent impairment of financial assets and 75% of the investment management fee are accounted for in the capital reserve realised. Capital reserve unrealised Unrealised gains and losses on investments held at the year-end arising from movements in fair value are taken to the capital reserve unrealised. Revenue reserve Net revenue returns and losses of the Company. The gain per ordinary share of 3.98 pence at 31 March 2017 (31 March 2016: 1.52 pence and 30 September 2016: gain 5.58 pence) is based on a net gain for the period of £2,942,172 (31 March 2016:  gain £810,996 and 30 September 2016: gain £3,115,012) and the weighted average number of ordinary shares in issue over the period of 73,942,080 (31 March 2016: 53,331,291 and 30 September 2016: 55,810,087). The results should not be taken as a guide to the results for the financial period ending 30 September 2017. This report may contain forward looking statements with regards to the financial condition and results of the Company, which are made in the light of current economic and business circumstances. Nothing in this report should be considered as a profit forecast. The net asset value per ordinary share at 31 March 2017 of 78.12 pence (31 March 2016: 73.91 pence and 30 September 2016: 75.93 pence) after deducting the 2.25 pence dividend paid in January 2017 is based on net assets of £63,562,650 (31 March 2016: £41,422,656 and 30 September 2016: £47,071,964) and on 81,370,569 shares (31 March 2016: 56,044,604 shares and 30 September 2016: 61,995,274 shares), being the number of ordinary shares in issue as at 31 March 2017. The financial information contained in the 31 March 2017 income statement, balance sheet, statement of cash flows and statement of changes in equity does not constitute full financial statements and has not been audited. The principal risks facing the Company relate to the Company's investment activities and include venture capital trust approval, investment, discount volatility, compliance, economic, fraud, operational, reputational, liquidity and outsourcing risk. Other risks faced by the Company include market risk, currency risk, interest rate risk and credit risk. These risks and the way in which they are managed are described in more detail in the Company's annual report and accounts for the year ended 30 September 2016. The Company's principal risks and uncertainties have not changed materially since the date of that report. Buybacks In total, the Company repurchased 318,221 shares during the six month period ending 31 March 2017 at a total cost of £236,079. The repurchased shares represent 0.51% of ordinary shares in issue on 1 October 2016. The acquired shares have been cancelled. Share issues In total, the Company issued 19,693,516 new shares (nominal value £196,935) during the six month period ending 31 March 2017 raising net proceeds of £15,214,886. Hargreave Hale Limited is considered to be a related party to the Company.  Oliver Bedford, a non-executive director of the Company and a member of its key management personnel, is an employee of Hargreave Hale Limited. In addition Hargreave Hale Limited acts as investment manager, administrator and custodian to the Company and it provides the company secretary. All of the support functions performed by Hargreave Hale Limited are segregated by department and location and are independent of each other. Hargreave Hale Limited in its capacity as investment manager of the fund receives annual fees of 1.5% per annum of the net assets of the Company, calculated and payable quarterly in arrears. Fees for the half-year are £376,830 (2016: £281,241). In relation to the other support functions described above, Hargreave Hale Limited also provides administration services, custody services, company secretarial services and one non-executive director and received fees of £50,000 in the period (2016: £40,000) in relation to these services. Of those fees, £90,032 (2016: £48,972) was still owed at the half-year end.                   Hargreave Hale Limited has agreed to indemnify the Company against annual running costs (such costs excluding VAT, any performance incentive fee and any trail commissions the payment of which is the responsibility of the Company) exceeding 3.5% of its net assets. No fees were waved by Hargreave Hale in the first half of the financial year under the indemnity.                   During the half year, the Company issued 19,693,516 ordinary shares (nominal value £196,935) in a joint offer for subscription which resulted in gross funds being received of £15,545,734. As marketing adviser and receiving agent to the Company, and in return for covering the costs of the joint offer, Hargreave Hale Limited was entitled to 3.5% of the gross proceeds (£544,101), often referred to as the 'premium'. From this, Hargreave Hale Limited paid for the allotment of additional shares to investors with a value of £213,253 and introducer commission of £740, resulting in net fees payable to Hargreave Hale of £330,108. After making enquires, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Issue of equity Following the period end, the offer for subscription resulted in an additional 844,468 ordinary shares being issued, raising gross proceeds of £671,931. Buybacks Since the period end, a further 206,867 ordinary shares have been repurchased at a total value of £158,516. New investments The Company has invested in the following new companies since the period end: Qualifying companies An investment of £618k has been made in Dorcaster plc, £501k in Zoo Digital Group plc and £332k in Velocity Composites plc. The Company's ordinary shares (Code: HHV) are listed on the London Stock Exchange. Shareholders can visit the London Stock Exchange website, www.londonstockexchange.com, for the latest news and share prices of the Company. Further information for the Company can be found on its website at www.hargreaveaimvcts.co.uk. NET ASSET VALUE PER SHARE The Company's NAV per share as at 19 May 2017 was 81.55 pence per share. The Company publishes its unaudited NAV per share on a weekly basis. DIVIDENDS The board has approved the payment of an interim dividend of 1.75 pence in respect of the six months ended 31 March 2017. Shareholders who wish to have future dividends paid directly into their bank account rather than sent by cheque to their registered address can complete a mandate for this purpose. Mandates can be obtained by contacting the Company's Registrar, Equiniti. SELLING YOUR SHARES Hargreave Hale AIM VCT 1 plc operates a share buy-back policy to improve the liquidity in its ordinary shares for cancellation. Share buy-back policies are subject to the Act, the Listing Rules and tax legislation, which may restrict the VCTs' ability to buy shares back in. The policy is non-binding and is at the discretion of the Board. The buy-back policy targets a 5% discount to the last published NAV per share as announced on the London Stock Exchange through a regulatory news service provider. The discount is measured against the mid-price per share as listed on the London Stock Exchange and reflects the price at which the Company buys its shares off the market makers. The Company publishes its unaudited NAV per share on a weekly basis. VCT share disposals settle two business days post trade if the shares are already dematerialised or placed into CREST ahead of the trade, or ten days post trade if the stock is held in certificated form. VCT share disposals are exempt of capital gains tax when the disposal is made at arms' length, which means a shareholder must sell their shares to a market maker through a stockbroker or another share dealing service. Hargreave Hale has particular expertise in the sale of VCT shares and is able to act for VCT shareholders who wish to sell their shares. However, you are free to nominate any stockbroker or share dealing service to act for you. If you would like Hargreave Hale to act for you as their client (as opposed to a shareholder in the Company) then please contact Andrew Pang for further information (020 7009 4900, andrew.pang@hargreave.com). Please note that Hargreave Hale will need to be in possession of the share certificate and a completed CREST transfer form before executing the sale. If you have lost your share certificate, then you can request a replacement certificate from the Company's registrar Equiniti. The registrar will send out an indemnity form, which you will need to sign. The indemnity form will also need to be countersigned by a UK insurance company or bank that is a member of the Association of British Insurers. Since indemnification is a form of insurance, the indemnifying body will ask for a payment to reflect their risk. Fees will reflect the value of the potential liability. SHAREHOLDER ENQUIRIES: For general Shareholder enquiries, please contact Hargreave Hale Limited on 01253 754700 or by e-mail to aimvct@hargreave.com. For enquiries concerning the performance of the Company, please contact the investment manager on 0207 009 4937 or by e-mail to aimvct@hargreave.com. Electronic copies of this report and other published information can be found on the Company's website at www.hargreaveaimvcts.co.uk. CHANGE OF ADDRESS To notify the Company of a change of address please contact the Company's Registrar.


Patent
Maxcyte Inc. | Date: 2017-02-22

Compositions and methods concern the sequence modification of an endogenous genomic DNA region. Certain aspects relate to a method for site-specific sequence modification of a target genomic DNA region in cells comprising: transfecting the cells by electroporation with a composition comprising (a) a DNA oligo and (b) a DNA digesting agent wherein the donor DNA comprises: (i) a homologous region comprising nucleic acid sequence homologous to the target genomic DNA region and (ii) a sequence modification region; and wherein the genomic DNA sequence is modified specifically at the target genomic DNA region.


The present invention relates to a method of electroporating cells and/or particles, such as, for example, by exposing a volume of cells and/or particles to an electric field (e.g., in one or more pulses).


Methods and compositions are provided involving high producing cell lines. Embodiments concern efficient methods for screening for such cell lines and for creating such cell lines. These cell lines can be used to create large amounts of protein. To quickly generate large quantity of recombinant proteins or vaccines for both pre-clinical study and clinical trials, almost all drug development will face the same challenging obstacle of rapidly generating a high stable producer. Developing and identifying a stable cell line is a critical part of biopharmaceutical development.


The present invention relates to the transient modification of cells. In particular embodiments, the cells are immune systems, such as PBMC, PBL, T (CD3+ and/or CD8+) and Natural Killer (NK) cells. The modified cells provide a population of cells that express a genetically engineered chimeric receptor which can be administered to a patient therapeutically. The present invention further relates to methods that deliver mRNA coding for the chimeric receptor to unstimulated resting PBMC, PBL, T (CD3+ and/or CD8+) and NK cells and which delivers the mRNA efficiently to the transfected cells and promotes significant target cell killing.


The present invention relates to the transient modification of cells. In particular embodiments, the cells are immune systems, such as PBMC, PBL, T (CD3+ and/or CD8+) and Natural Killer (NK) cells. The modified cells provide a population of cells that express a genetically engineered chimeric receptor which can be administered to a patient therapeutically. The present invention further relates to methods that deliver mRNA coding for the chimeric receptor to unstimulated resting PBMC, PBL, T (CD3+ and/or CD8+) and NK cells and which delivers the mRNA efficiently to the transfected cells and promotes significant target cell killing.


News Article | March 2, 2017
Site: www.prnewswire.com

GAITHERSBURG, Md., March 2, 2017 /PRNewswire/ -- MaxCyte, a US-based global company dedicated to accelerating the discovery, development, manufacturing and commercialization of next-generation, cell-based medicines, announced today it will present results of pre-clinical in vivo research...

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