Agilis announces Intrexon deal, CEO and financing

Newco Agilis Biotherapeutics LLC (Germantown, Md.) announced a deal with synthetic biology company Intrexon Corp. (NYSE:XON), named a new CEO and said it raised $8 million on Tuesday. Agilis and Intrexon partnered to develop DNA-based gene therapies and genetically modified cell therapies for Friedreich's ataxia (FRDA), a rare neurodegenerative disease caused by a genetic mutation that reduces the expression of frataxin. Intrexon will be responsible for preclinical development and will use its UltraVector gene design and fabrication technology and RheoSwitch Therapeutic System to develop therapies that can repair or replace the mutated gene. Agilis will be responsible for all clinical development and commercialization and also has an option to add another rare genetic disease to the deal. The companies are not disclosing financial terms of the deal.

Separately, Agilis named George Zorich CEO and said it raised $8 million in a series A round led by Falcon Fund; Stadium Capital; and Griffin Securities. Other undisclosed new investors also participated. Zorich was president of North American operations at Bioniche Pharma Holdings Ltd., which Mylan Inc. (NYSE:MYL) acquired in 2010. ...