Intrexon Division on the Move
Protein Production Division expands its executive tier, relocates to Foster City
Blacksburg, Virginia, April 6, 2010 – Intrexon Corporation, a privately held life sciences company focused on modular DNA control systems, today announced the appointments of Richard A. Waldron and Stephen T. Worsley as Chief Financial Officer and Vice President, Business Development, respectively, of the company’s Protein Production Division. Intrexon also announced the relocation of the headquarters for the division from San Francisco to Foster City, California.
According to Gerardo A. Zapata, Ph.D., division President, “The results of our initial protein projects have set the stage for exciting growth in 2010 and beyond. It has also substantially increased our space requirements as we move forward in our scale-up process and toward multiple collaborations.” Continued Zapata, “This positive momentum has caused a corresponding increase in the scope and sophistication of our financial operations and related business development endeavors. As such, I am very pleased that Rick and Steve will now be applying their exceptional business talents in concert with our top-tier technical and operational leadership.”
Mr. Waldron has extensive management and financial experience directly addressing strategic and operational issues of DNA and protein-based human therapeutics development and production. Prior to joining Intrexon, he has served as the Chief Financial Officer of publicly traded biotechnology companies including the gene therapy pioneer GeneMedicine, Inc., and was Chief Financial Officer and interim co-president of SciClone Pharmaceuticals, Inc. Before joining industry, Mr. Waldron established Cowen & Company’s health care investment banking business. In addition to successfully managing numerous public offerings and merger and acquisition assignments, he played a significant role in the direct financing for the development of the enzyme Ceredase® (the predecessor to Cerezyme®), the recombinant protein Activase®, tissue plasminogen activator, and Protropin®, the first recombinant human growth hormone, and in arranging the collaborative development of the humanized antibody Xolair®. Mr. Waldron graduated with honors and received his MBA degree from Harvard Business School and received his AB degree magna cum laude in economics from Princeton University.
Mr. Worsley has executed substantial business development transactions over the past two decades, most notably with the antibody drug development company Abgenix, Inc, where he was solely responsible for out-licensing the company’s clinical-level assets. These transactions included agreements with several major pharmaceutical and large biotechnology companies for the out-licensing of early and later stage clinical product candidates and the formation of joint ventures and other strategically important business development initiatives. Among several transactions he executed at Abgenix, Mr. Worsley led the out-licensing of Vectibix®, the first fully human monoclonal antibody specific to the epidermal growth factor receptor (HER1). Vectibix® is now manufactured and marketed by Amgen for the treatment of colorectal cancer. Most recently, Mr. Worsley was Vice President of Business Development with Zosano Pharmaceutical, Inc., a privately held early-stage biotechnology company focused on drug development and drug delivery. Mr. Worsley graduated and received his MBA from University of Washington and graduated and received his BA degree cum laude in international economics/finance with a minor in chemistry from University of Utah.
About Intrexon Corporation
Intrexon Corporation is a privately held life sciences company that employs modular DNA control systems to enhance capabilities, improve safety and lower cost in human therapeutics, protein production, industrial enzymes and ag/bio. The company's advanced transgene engineering platform enables a new level of biotech - combining breakthroughs in DNA control systems with corresponding advancements in modular transgene design, assembly and optimization. The company is currently using these advanced capabilities to undertake foremost challenges across the life sciences spectrum. More information about the company is available at www.DNA.com.
Contact:
Robert Beech
Intrexon Corporation
Phone: 301.556.9812
E-mail: rbeech@intrexon.com
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