June 23, 2009
Based in Blacksburg, Virginia, Intrexon Corporation is a privately owned company in the life sciences industry and mainly deals with modular DNA control systems for bio therapeutics and other fields in the life sciences industry. Intrexon Corporation has announced that it had secured $10 million in C-2 Funding with the round of financing being led by Third Security, LLC.
Intrexon is a company that is developing innovative bio-therapeutic solutions to cure all kinds of diseases, including cancer to reduce toxicity and improve clinical results. This particular technology works by employing genetic components and activator ligands to control the delivery of biologics.
Intrexon’s R&D and SVP, Dr. Sunil Chada, PhD states that the team at Intrexon is encouraged by the results of the company’s clinical and preclinical trials of the modular inducible cancer immunotherapeutic platform or MICI. Proceeds from this funding will help Intrexon in their quest to develop this revolutionary biotechnology and leverage its MICI preclinical studies to develop this solution for other therapies as well.
According to Robert Patzig, Senior Managing Director and CIO of Third Security LLC, the technology and product platform that Intrexon has been developing is reaching a pivotal point with the initiation of a study in 1b melanoma and continues to show that the in-vivo control of bio-molecules by applying modular DNA systems is very important. Furthermore, Third Security believes that the technology platform that Intrexon is developing is going to play a major role in the way cancer and other genetic diseases will be treated in the future. The fact that Intrexon’s immunotherapeutic approach to treat cancer can seriously enhance the efficacy and safety of treating cancer, while at the same time maintains centralized distribution and production of efficiencies. Furthermore, Third Security is convinced that Intrexon’s product and technology can also be used in other sectors of the life sciences industry as well.
Founded in 1999, Third Security LLC is a vc firm that manages investments in both public and private companies. When investing in companies, Third Security evaluates the opportunities in a wide variety of industries, but the main industries that Third Security mainly invests in are the life sciences and communications industries. Furthermore, the approach that Third Security takes when making an investment, the vc firm invests in only a select few companies that are most likely to have success in the marketplace. The patient approach that Third Security takes in investing is to focus on having the highest returns on investments. When Third Security does invest in a company, it provides that company with hands-on support in all of its ventures.
For more information on Intrexon Corporation, click here.