BioCentury
ARTICLE | Company News

AquaBounty, Intrexon deal

February 25, 2013 8:00 AM UTC

Intrexon and aquaculture company AquaBounty partnered to use Intrexon's UltraVector synthetic biology platform to research, develop and manufacture products to increase productivity of the aquaculture industry. Under the deal, which is subject to shareholder approval, AquaBounty will pay Intrexon 16.66% of the quarterly gross profits for each product resulting from the deal as well as reimburse Intrexon for service costs. Additionally, AquaBounty will pay Intrexon 50% of quarterly revenue obtained from sublicense agreements.

Last month, Intrexon failed to acquire the company after it did not receive the 50% of outstanding shares necessary to complete its tender offer of AquaBounty (see BioCentury, Jan. 14). ...