NEW YORK (GenomeWeb News) – Synthetic biology firm Intrexon said late Wednesday that it has closed a Series F preferred investment round that raised $150 million.
Proceeds from the financing round will be used for working capital to establish additional channel collaborations in the firm's core sectors, including healthcare, food, energy, and environment, it said, adding that funding will also be used for further development of its technology platforms and expansion of its sales and marketing and R&D efforts.
New investors accounted for the majority of funding in the round. Current investors, including affiliates of Intrexon Chairman and CEO Randal Kirk, as well as Third Security, also participated.
"The Intrexon team is committed to delivering results for all of our collaborations," Kirk said in a statement. "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."