BioCentury
ARTICLE | Company News

Intrexon, Synthetic Biologics deal

August 13, 2012 7:00 AM UTC

Intrexon granted Synthetic Biologics (formerly Adeona Pharmaceuticals Inc.) exclusive, worldwide rights to develop and commercialize mAbs for three undisclosed infectious disease indications using Intrexon's technologies. The deal includes Intrexon's 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 Aug. 7, the day 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 has a two-year option to expand the deal to include up to five additional indications for $2 million in cash or stock per additional indication. Intrexon will now own about 18% of Synthetic Biologics. ...