Intrexon and AquaBounty to collaborate to increase productivity across the aquaculture arena
In Maryland, Intrexon Corporation and AquaBounty Technologies announced the formation of an exclusive channel collaboration to enhance productivity in aquaculture and develop products that decrease the time to market. AquaBounty will use Intrexon’s UltraVector platform and other technologies to research, develop, manufacture and market products involving key synthetic biology tools to improve the value of finfish intended for human consumption.
For this, AquaBounty will pay Intrexon quarterly 16.66% of the gross profits calculated for each collaboration product and pay 50% of quarterly revenue obtained from a sublicensor in the event of a sublicensing agreement. Finally, AquaBounty will reimburse Intrexon for the costs, on a full time equivalent basis, of certain services provided under the aquaculture program.
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