Intrexon Corporation Secures Additional $10 Million of Series C-2 Investment
Blacksburg, Virginia, June 23, 2009 – Intrexon Corporation, a privately held life sciences company focused on modular DNA control systems for biotherapeutics and other industry sectors, announced today it has received an additional $10 million of Series C-2 financing from New River Management V, LP, (NRM-V) a life sciences focused investment fund managed by Third Security, LLC. This is the final investment for NRM-V, which is now fully committed. Third Security intends to continue its investment strategy with a new fund, New River Management VI.
According to Sunil Chada, Ph.D., Intrexon's SVP Clinical R&D, "We are very encouraged by the ongoing clinical and preclinical results we are obtaining with our modular inducible cancer immunotherapeutic (MICI) platform. This additional investment enables us to leverage those results and expand our MICI preclinical studies to include many different modular combinations. We greatly appreciate this continued support from our lead investor and the opportunity it provides our team to fully dimension the promise and value of this first-in-class oncology platform."
"Intrexon has reached a pivotal point with its technology platform and product development," said Robert Patzig, Senior Managing Director and Chief Investment Officer of Third Security, "The company recently initiated a Phase 1b study in melanoma and continues to demonstrate the importance of in-vivo control of potent biomolecules through the application of its modular DNA systems. We believe Intrexon's intrinsically personalized immunotherapeutic approach is on track to significantly enhance the safety and efficacy of cancer treatments while also maintaining centralized production and distribution efficiencies. Additionally, we are convinced of the utility of Intrexon's technologies in many other industries and believe them capable of making significant progress on several fronts this year."
About Intrexon Corporation
Intrexon Corporation is a privately held life sciences company whose Therapeutics Division is focused on the research and development of biotherapeutic control systems to reduce toxicity while enhancing clinical outcomes. The company's technology employs special genetic components and activator ligands to tightly control the delivery, targeting, activation, regulation and location of biologics. The company is headquartered at the Virginia Tech Corporate Research Center in Blacksburg, Virginia, with additional R&D operations in Valley Forge, Pennsylvania. More information is available at www.DNA.com.
Intrexon's most advanced immunomodulatory therapy is intended to control and enhance the immune-modulating performance of dendritic cells to treat solid tumor cancers. The company's current Phase 1b clinical trial is an open-label, dose-escalation study evaluating the safety, tolerance, transgene function, pharmacokinetics and immunological effects of intratumoral injection of transduced dendritic cells engineered for inducible expression of human Interleukin 12 (hIL-12) using regimented dosing of an orally administered small molecule.
About Third Security, LLC
Third Security, LLC is an independent venture capital firm formed in 1999 to manage investments in public and private companies. The firm leverages its people, expertise and capital to guide investments and companies to higher levels of performance. More information is available at the firm's website, www.thirdsecurity.com
Contact:
Robert Beech
Intrexon Corporation
Phone: 301.556.9812
E-mail: rbeech@intrexon.com
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