ARTICLE | Company News

Intrexon, Medistem deal

January 6, 2014 8:00 AM UTC

Intrexon will acquire Medistem in a deal valuing the company at about $26 million. Medistem shareholders will receive for each share $0.27 in cash and $1.08 worth of Intrexon common stock, with the amount of stock to be based on the 20-day volume-weighted average price prior to the deal close. Additionally, all holders of stock options, warrants and promissory notes for Medistem stock will receive the same combination of cash and Intrexon stock. The combined price is a 57% premium of Medistem's close of $0.86 on Dec. 19, before the deal was announced. As of Dec. 17, 2013, Medistem had 14.4 million shares outstanding. Intrexon plans to use Medistem's multipotent endometrial regenerative cells (ERCs) to produce stem cells for therapeutic delivery of secreted proteins and exosomes for delivery of therapies such as microRNAs and proteins. ...