BioCentury
ARTICLE | Company News

Intrexon, OvaScience deal

January 6, 2014 8:00 AM UTC

On Dec. 19, 2013, the companies said OvaScience will gain access to all of Intrexon's technologies to develop OvaScience's OvaTure next-generation in vitro fertilization (IVF) technology. OvaScience, which will retain commercial rights to OvaTure, issued Intrexon 273,224 shares of OvaScience, or $2.5 million based on OvaScience's close of $9.15 on Dec. 18, the day before the deal was announced, and will pay Intrexon $2.5 million in cash in one year. Intrexon will use its industrialized synthetic biology platform, including its Cell Systems Informatics, UltraVector, RheoSwitch, AttSite and LEAP technologies, to deliver laboratory and animal data to support an IND application for OvaTure within two years. Upon delivery of the data, Intrexon will be eligible for a mid-single digit royalty on net sales of OvaTure products. Intrexon is also eligible for a commercial milestone payment three months after the first OvaTure product sale. OvaTure creates mature fertilizable eggs from a woman's own egg precursor cells without the need for hormone injections. ...