Intrexon to purchase 48% of AquaBounty Technologies

November 1, 2012 |

In Virginia, Intrexon Corp., a synthetic biology company that utilizes its proprietary technologies to provide control over cellular function, announced that it has entered into a definitive purchase agreement to acquire an approximately 48% interest in AquaBounty Technologies from existing shareholders.  ABT is a biotechnology company focused on enhancing the productivity in aquaculture.

Under the agreement, Intrexon will purchase 48,631,444 shares from Linnaeus Capital Partners B.V. and its affiliate, Tethys Ocean B.V., for $6 million.  Thomas Kasser, President of Intrexon’s Animal Science Division, stated, “This transaction will accelerate our efforts to play a leading role in solving the world’s emerging food shortages through biotechnology. AquaBounty’s pioneering work in genetically modified fish is an initial step toward creating a large-scale, efficient and environmentally safe and sustainable global aquaculture market.

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