Intrexon Corporation Raises $150 Million for Synthetic Biology Initiatives
GERMANTOWN, Md., May 1, 2013 /PRNewswire/ — Intrexon Corporation, a next generation synthetic biology company, today announced that it has closed a Series F preferred investment round of $150 million, bringing the company’s total capital raised to $509 million. New investors accounted for the majority of the round, with current investors, including affiliates of Randal J. Kirk, Intrexon’s Chairman and CEO, and Third Security, LLC, taking the balance of the round.
The funding will be used to provide working capital for the establishment of additional exclusive channel collaborations in Intrexon’s core sectors, including Healthcare, Food, Energy and Environment, continued development of the company’s industry-leading technology platforms, expansion of sales and marketing, and research and development.
“The Intrexon team is committed to delivering results for all of our collaborations,” said Mr. Kirk. “With our proprietary technology platforms, we are helping our collaborators discover, design, develop and ultimately bring to market genetically-enhanced products that hold remarkable promise.”
Mr. Kirk added, “It is especially gratifying to our entire team that, in addition to being our largest investment series to date, a majority of the investment came from new investors who share our vision.”
About Intrexon Corporation
Intrexon Corporation is a privately held biotechnology company focused on the industrial engineering of synthetic biology. Intrexon is deploying its extensive capabilities to rapidly design and produce novel and enhanced biological products and processes across multiple industry sectors, including: human therapeutics, protein production, industrial products, agricultural biotechnology, and animal science. The company’s advanced bioindustrial engineering platform enables Better DNA(TM) technology by combining revolutionary DNA control systems with corresponding advancements in modular transgene design, assembly, and optimization to enable unprecedented control over the function and output of living cells. More information about the Company is available at www.dna.com.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
For more information regarding Intrexon Corporation, contact:
Corporate Contact: Investor Contact: Marie L. Rossi, Ph.D. The Ruth Group Manager, Technical Communications Intrexon Corporation Stephanie Carrington / Nicole Greenbaum Tel: +1 301-556-9944 Tel: +1 646-536-7017/7009 email@example.com firstname.lastname@example.org email@example.com
SOURCE Intrexon Corporation