Intrexon Secures $25M VC Round
Intrexon Corporation, a privately-held life sciences company focused on biotherapeutic control systems, announced it has closed a $25 million Series C-2 financing by New River Management V, LP, a private investment fund managed by Third Security, LLC. Previous rounds of investment have been provided by New River Management IV, LP, New River Management V and NewVa Capital Partners, LP, a regional investment partnership. Funds and other entities managed by Third Security have invested a total of $56.5 million in Intrexon to date.
According to Intrexon CEO Robert Beech, “The encouraging results from our ongoing clinical and pre-clinical studies have established the basis for expanding our R&D activities toward other disease areas and industry relationships. We greatly appreciate this level of support and commitment from our investors.”
Intrexon is a privately-held life sciences company headquartered at the Virginia Tech Corporate Research Center in Blacksburg, Virginia, with additional R&D operations in Valley Forge, Pennsylvania. The company is focused on the research and development of biotherapeutic control systems that minimize toxicity while enhancing clinical outcomes. The company employs 140 people, of whom approximately 100 are based in Blacksburg.
“We are pleased to make this additional investment in Intrexon,” said R.J. Kirk, Chairman and CEO of Third Security, “The company has developed a number of elegant approaches to solve problems that have limited the impact of many biotherapeutics. We believe that Intrexon’s technology should enhance the safety and efficacy of existing and novel biotherapies.”
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