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Finance Watch: Intrexon Reorganizes, Raises Cash And Becomes Precigen

 
• By Mandy Jackson

The new year starts with a strategic shift by Intrexon. Also, Roivant and Sumitomo Dainippon launch Sumitovant, Melinta reorganizes through Chapter 11 bankruptcy, Acorda arranges debt relief and CF PharmTech raises a $90m series E round.

Finance Watch

Synthetic biology specialist Intrexon Corp. has shifted its focus exclusively to health care and is selling its agricultural, industrial and other biotechnology businesses. Going forward, Intrexon’s biopharmaceutical research and development subsidiaries will fall under a single umbrella known as Precigen Inc. – the name of its subsidiary focused on gene and cell therapies for cancer, autoimmune disorders and infectious diseases.

Intrexon founder and CEO Randal Kirk will become executive chairman and current Precigen president Helen Sabzevari will helm the new Precigen as president and CEO

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