Intrexon Corporation (NYSE: XON), a leader in synthetic biology, today announced that it has acquired state-of-the-art laboratory operations in Budapest, Hungary from Codexis, Inc., a developer of biocatalysts for the pharmaceutical and complex chemistry industries.
The acquisition will expand Intrexon's strain and protein development capabilities, as well as strengthen fermentation process optimization and scale-up. Through the agreement, Intrexon's Industrial Products Division (IPD) will absorb the Budapest laboratory staff of experienced scientific professionals. Integration of the Budapest team and their expertise with Intrexon's suite of synthetic biology technologies and capabilities will allow Intrexon to better serve current collaborators and to attract new opportunities for active pharmaceutical ingredients (API) and industrial and consumer product collaborations.
Intrexon's IPD is positioned to develop biologically based solutions across sectors – Health, Food, Energy, Environment, and Consumer – including bioproduction of APIs, for example novel anti-infectives, as well as engineering microbial biocatalysts for chemical and fuel production.
"The expansion affords Intrexon greater flexibility in existing collaborations including Amneal, Johnson & Johnson, and Oragenics and positions the Company to meet demand from international collaborators," said Robert F. Walsh, President of Intrexon's Industrial Products Division. "We are pleased to integrate the Budapest team into Intrexon and look forward to their immediate contributions."
"The state-of-the-art industrial development facility and team we have acquired not only expands our current IPD operations, but its location in Budapest will enable us to continue growing our interests abroad and strengthen our ability to service the European and Asian markets," added Peter Seufer-Wasserthal, Ph.D., Vice President of Business Development for Europe and Asia.
About Intrexon Corporation Intrexon Corporation (NYSE: XON) is a leader in synthetic biology focused on collaborating with companies in Health, Food, Energy, Environment, and Consumer markets to create biologically-based products that improve the quality of life and the health of the planet. Through the company's proprietary UltraVector® platform, Intrexon provides its partners with industrial-scale design and development of complex biological systems. The UltraVector® platform delivers unprecedented control over the quality, function, and performance of living cells. We call our synthetic biology approach and integrated technologies Better DNA®, and we invite you to discover more at www.dna.com.
Trademarks Intrexon, UltraVector, RheoSwitch Therapeutic System, RTS, AttSite, mAbLogix, LEAP, and Better DNA are trademarks of Intrexon and/or its affiliates. Other names may be trademarks of their respective owners.
Safe Harbor Statement Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
- Analysts Remain Optimistic Amid Amazon's Move To Raise Prime Price
- Tag You're It! John Donahoe Strikes Back Against Carl Icahn
- Newpark Resources Announces Board Of Directors Changes
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.