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Intrexon Raises $25M in Equity Financing

NEW YORK (GenomeWeb News) – Genetic engineering company Intrexon has raised $25 million in equity financing, according to a form filed this week with the SEC.

Intrexon, formerly known as Genomatix, is based in Blacksburg, Va., and uses modular DNA control systems to enhance capabilities, improve safety, and lower cost in human therapeutics, protein production, industrial enzymes, and agriculture, according to the company's website.

Intrexon has not yet disclosed the principal investors participating in the latest financing. The company last raised funds in June 2009, when it received an additional $10 million of Series C-2 financing from New River Management V, a life sciences investment fund managed by Third Security.

This followed a May 2008 Series C-2 investment of $25 million, also by New River Management V. Previous financing rounds were provided by New River Management IV, New River Management V, and NewVa Capital Partners.

Including the recently disclosed financing, Intrexon has raised a total of approximately $91.5 million to date.

In September, Intrexon spent $1.5 million to acquire from Clinical Data certain assets of the former Avalon Pharmaceuticals, which Clinical Data acquired in 2008 for $10 million. At the time, Intrexon said that those assets, located in a Germantown, Md., facility, would become the home of its human therapeutics division.