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Intrexon Corporation Secures $25 Million Series C-2 Investment
Business Wire, May 7, 2008
Third Security, LLC Provides Funding for Expanded Clinical Development
BLACKSBURG, Va. -- Intrexon Corporation, a privately held life sciences company focused on biotherapeutic control systems, announced today it has closed a $25 million Series C-2 financing by New River Management V, LP, a private investment fund managed by Third Security, LLC. Previous rounds of investment have been provided by New River Management IV,LP, New River Management V and NewVa Capital Partners, LP, a regional investment partnership. Funds and other entities managed by Third Security have invested a total of $56.5 million in Intrexon to date.
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According to Intrexon CEO Robert Beech, "The encouraging results from our ongoing clinical and pre-clinical studies have established the basis for expanding our R&D activities toward other disease areas and industry relationships. We greatly appreciate this level of support and commitment from our investors."
"We are pleased to make this additional investment in Intrexon," said R.J. Kirk, Chairman and CEO of Third Security. "The company has developed a number of elegant approaches to solve problems that have limited the impact of many biotherapeutics. We believe that Intrexon's technology should enhance the safety and efficacy of existing and novel biotherapies."
About Intrexon Corporation
Intrexon is a privately held life sciences company headquartered at the Virginia Tech Corporate Research Center in Blacksburg, Virginia, with additional R&D operations in Valley Forge, Pennsylvania. The company is focused on the research and development of biotherapeutic control systems that minimize toxicity while enhancing clinical outcomes. More information is available at www.DNA.com.
About Third Security, LLC
Third Security, LLC is an independent venture capital firm formed in 1999 to manage investments in public and private companies. The firm leverages its people, expertise and capital to guide investments and companies to higher levels of performance. More information is available at the firm's website, www.thirdsecurity.com or by contacting David Snepp, Director of Communications: (540) 633-7952.
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