Intrexon, Synthetic Biologics in infectious disease deal
Intrexon Corp. (Blacksburg, Va.) granted Synthetic Biologics Inc. (NYSE-M:SYN) exclusive, worldwide rights to develop and commercialize mAbs for three undisclosed infectious disease indications using Intrexon's technologies, including the UltraVector technology for assembling transgenes and its mAbLogix human mAb discovery platform. Intrexon will receive about 3.6 million Synthetic Biologics shares, which are valued at $7.2 million based on Synthetic Biologics' close of $2 on Tuesday, before the deal was announced. The shares represent 11% of Synthetic Biologics' 33.3 million outstanding shares at June 30. Intrexon is also eligible for undisclosed cash or stock milestones, plus royalties. Synthetic Biologics (formerly Adeona Pharmaceuticals Inc.) has the option to pay an undisclosed fee in cash or stock to expand the deal to include up to five additional indications. Intrexon will now own about 18% of Synthetic Biologics. ...