GERMANTOWN, Md., June 15, 2015 /PRNewswire/ -- Intrexon
Corporation (NYSE: XON) announced today that it has entered into a
collaboration with an investment fund sponsored by Harvest Capital
Strategies, LLC. The fund is believed to be the world's first that
is dedicated to the inventions and discoveries of a single
company.
Intrexon has agreed to provide the fund a significant number of
investment proposals from across five sectors – Health, Energy,
Food, Environment and Consumer – that are suitable for pursuit by a
startup, including several in 2015. With respect to such
proposals, Intrexon will provide the fund with exclusive rights of
first-look and first negotiation. Intrexon currently sees the
potential to form up to ten new companies per year, each of which
will have access to Intrexon's proprietary technology platform
through an Exclusive Channel Collaboration. Although the
collaboration with the fund will be complimentary to programs
already underway at Intrexon, nothing in the arrangement will limit
the Company's ability to execute other collaborations and joint
ventures.
"The imagination and creativity of our scientists fuel an
impressive flow of developmental and commercial projects that can
undergird a startup and be taken to relevant points of inflection
for relatively modest sums," commented Randal J. Kirk, Chairman and Chief Executive
Officer of Intrexon. "While many of our collaborative
relationships and negotiations today involve multinational
corporations, we are excited to see our technologies utilized also
to enable exciting new startups with high-impact programs.
The fund creates an efficient and diverse structure for this type
of opportunity for Intrexon."
One or more affiliates of Mr. Kirk are invested in the fund in
an aggregate amount of 20% of the fund's committed capital.
Harvest Capital Strategies, LLC, is a San Francisco-based investment adviser that
began operations in September 1999,
and will act as the investment manager of the fund. Harvest
is an indirect subsidiary of JMP Group LLC (NYSE: JMP), a public
company that operates its alternative asset management business
through Harvest Capital Strategies and its investment banking,
equity research and institutional brokerage business through JMP
Securities LLC.
About Intrexon Corporation
Intrexon Corporation (NYSE:XON) is Powering the Bioindustrial
Revolution with Better DNA™ to create biologically-based products
that improve the quality of life and the health of the planet. The
Company's integrated technology suite provides its partners across
diverse markets with industrial-scale design and development of
complex biological systems delivering unprecedented control,
quality, function, and performance of living cells. We call our
synthetic biology approach Better DNA®, and we invite
you to discover more at www.dna.com.
Safe Harbor Statement
Some of the statements made in this press release are
forward-looking statements. These forward-looking statements
are based upon our current expectations and projections about
future events and generally relate to our plans, objectives and
expectations for the development of our business. Although
management believes that the plans and objectives reflected in or
suggested by these forward-looking statements are reasonable, all
forward-looking statements involve risks and uncertainties and
actual future results may be materially different from the plans,
objectives and expectations expressed in this press release.
For more information regarding Intrexon Corporation,
contact:
Investor Contact:
Christopher
Basta
Vice President, Investor Relations
Tel: +1 (561) 410-7052
investors@intrexon.com
Corporate Contact:
Marie
Rossi, Ph.D.
Senior Manager, Technical Communications
Tel: +1 (301) 556-9850
publicrelations@intrexon.com
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SOURCE Intrexon Corporation