Intrexon raises $100 million
- June 1, 2011
Intrexon Corp. of Blacksburg announced Tuesday that it raised $100 million in capital to support its commercial enterprises in synthetic biology.
The money also will be used to expand the company’s UltraVector platform, the main construction methodology of the company’s transgenes, or genetic material that has been transferred from one organism to another. The company tries to use synthetic biology to improve processes in a variety of industries.
UltraVector is the backbone of Intrexon’s work in human health care, animal science, agricultural biotechnology and industrial products. The latest round of funding came mostly from new investors, with the remainder coming from existing investors, including R.J. Kirk, Intrexon’s chairman and CEO, and his venture capital firm Third Security LLC. So far, Intrexon has raised a total of $250 million in capital.
“Given the vast scope of applications that are amenable to biological synthesis, Intrexon’s unparalleled ability to produce gene programs for the control of cellular function, and our scalability, I believe that Intrexon today represents one of the most exciting endeavors in all of life sciences,” Kirk said in a statement.