Intrexon Corporation Raises $150 Million for Synthetic Biology Initiatives
News May 02, 2013
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."
Children who are genetically predisposed to overweight, due to common gene variants, can still lose weight by changing their diet and exercise habits. Around 750 children and adolescents with overweight or obesity undergoing lifestyle intervention participated in the study conducted by researchers from the University of Copenhagen and Holbæk Hospital.
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