Intrexon Corporation Raises $100 Million for Synthetic Biology Initiatives
BLACKSBURG, Va.--(BUSINESS WIRE)--Intrexon Corporation, a next generation synthetic biology company, today announced that it has closed a Series E preferred investment round of $100 million, bringing the company's total capital raised to more than $259 million. New investors took the majority of the round while existing investors, including Randal J Kirk, Intrexon's Chairman and CEO, and Third Security, LLC, took the remainder. Perella Weinberg Partners acted as Intrexon's exclusive financial advisor and placement agent.
The funding will be used to provide working capital for Intrexon's commercial divisions and the expansion of its UltraVector® platform. UltraVector, which is the underlying architecture and construction methodology for the company's complex transgenes, is the backbone of Intrexon's activities in human health care, animal science, agricultural biotechnology and industrial products.
"We welcome our new investors, who share our vision of the historic potential of synthetic biology generally and of Intrexon's technology specifically," said Mr. Kirk. "The success of the raise, including the valuation that Intrexon was able to attain, speaks strongly in favor of our business model and the opportunity that synthetic biology represents. Given the vast scope of applications that are amenable to biological synthesis, Intrexon's unparalleled ability to produce gene programs for the control of cellular function, and our scalability, I believe that Intrexon today represents one of the most exciting endeavors in all of life sciences."
Intrexon has achieved a number of significant milestones in 2011. In addition to the successful completion of its Series E capital raise, the company announced an exclusive channel partnership with ZIOPHARM Oncology, Inc., on January 6, followed successively by the acquisitions of Agarigen, Inc. and Neugenesis Corporation on January 31 and April 21. The company has also launched two new commercial divisions this year: Intrexon's AgBio Division was established in concert with the Agarigen acquisition in Research Triangle Park, North Carolina. The company launched its Animal Science Division on April 27 in Germantown, Maryland. These divisions complement Intrexon's Protein Production Division, Foster City, CA; its Human Therapeutics Division, Germantown, Maryland; its Industrial Products Division, Burlingame, CA; and its UltraVector Division, Blacksburg, VA.
About Intrexon Corporation
Intrexon Corporation is a privately held synthetic biology company that employs modular DNA control systems to enhance capabilities, improve safety and lower cost in human therapeutics, protein production, industrial products, agricultural biotechnology, and animal science. The company's advanced transgene engineering platform enables Better DNATM by combining revolutionary DNA control systems with corresponding advancements in modular transgene design, assembly and optimization. More information about the company is available at www.DNA.com.
About Perella Weinberg
Perella Weinberg Partners is a leading independent, client-focused financial services firm that provides corporate advisory and asset management services to clients around the world. Launched in 2006, the Firm is a private limited partnership with more than 330 employees recruited from a wide variety of leading financial institutions. The Firm has offices in New York, London, Abu Dhabi, Denver, Austin, and San Francisco. Biographies and additional information are available at www.pwpartners.com.