Intrexon raises $150 million in hot biotech investment round

May 8, 2013 |

IntrexonIn California, Intrexon Corporation, a next generation synthetic biology company, announced that it has closed a Series F preferred investment round of $150 million, bringing the company’s total capital raised to $509 million.

Undisclosed 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, 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.

Background on Intrexon

Intrexon Corporation can rapidly design and produce novel and enhanced biological products and processes across multiple industry sectors, including (but not limited to) biofuels, renewable chemicals and agricultural biotechnology, and animal science. Its signature technology is Intrexon’s advanced bioindustrial engineering platform UltraVector. It offers a fast and cost-effective route to reengineering complex metabolic pathways — aiming at an optimal balance of sustainable productive yield and attractive economic returns.

Applications include: In fuels, enzymes and bioconversion technologies; in chemicals, advanced biocatalysis production of specialty, intermediate & bulk chemicals and biomaterials; in crop development, complex trait development to improve yield and enhance disease and pest resistance.

Also, intriguingly, the company’s technologies have applications related to the goals of ARPA-E’s PETRO (plants engineered to replace oil) project — including itroduction of biopolymers and chemical intermediates in multiple crops of interest

Reaction from the company

“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.”

More on Intrexon.

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