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Intrexon Files to Go Public with Stock Offering Targeting up to $125M in Proceeds

NEW YORK (GenomeWeb News) – Synthetic biology firm Intrexon has filed to raise up to $125 million in an initial public offering.

The Germantown, Md.-based firm has not yet determined a price range on its shares, and it didn't disclose in its Form S-1 filed with the US Securities Exchange on Tuesday how many shares it plans to offer. JP Morgan and Barclays will be joint book-running managers on the offering.

Intrexon plans to list on the New York Stock Exchange under ticker symbol "XON".

Founded in 1998, Intrexon develops gene programs, or sequences of DNA, that control cellular functions and cellular systems, or activities within a cell, "and the interaction of those systems in the greater cellular environment to enable the development of new and improved products and manufacturing processes across a variety of end markets, including healthcare, food, energy, and environmental sciences," it said in its SEC document.

It added that its approach could lead to new and better biotherapeutics, increase the productivity and quality of food crops and livestock, create sustainable alternative energy sources and chemical feedstocks, and "provide for enhanced environmental remediations."

Its technologies include the UltraVector gene program design platform, comprising DNA construction technology and components, cellular and protein engineering tools, computational models, and statistical models.

Its technology portfolio also includes Cell System Informatics, a proprietary bioinformatics software and database system for the mapping of cellular pathways; and LEAP, the firm's Laser-Enabled Analysis and Processing technology, for "cell processing applications to provide high levels of control and scale to cell purification and stem cell culture management," Intrexon said.

Lastly, its mAbLogix antibody discovery platform enables the production of B-cell libraries for the discovery of antibodies.

For the quarter ended March 31, Intrexon recorded nearly $4.0 million in revenues with a net loss of $36.4 million. For full-year 2012, the firm had $13.9 million in revenues and a net loss of $81.9 million.

As of March 31, it had $59.7 million in cash and cash equivalents. In May, the company announced the closing of a Series F preferred investment round that raised $150 million. At the time, it said that it had raised a total of $509 million since its inception.

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