Virginia biotech Intrexon has raised $66.9 million from 82 investors, according to a recently filed regulatory document. The filing did not identify the investors but noted the first sale of the offering was in February 2010. Intrexon also announced the launch of a division focused on new approaches to animal health and the development of more relevant animal research models.
The company, formerly called Genomatix, is a genetic engineering firm that works with partners to create what it calls “BetterDNA” that can be applied across several synthetic biology platforms for industrial, agricultural and pharmaceutical applications.
Although the money was not raised specifically for acquisitions, Intrexon acquired California-based Neugenesis last week to beef up its industrial biotech capabilities. In February, it launched an agricultural biotech division and acquired Agarigen, a North Carolina biotech developing a mushroom-based expression platform for the production of recombinant proteins.
Oxford Nanopore Technologies closed a $41 million round from existing and new institutional and individual investors to support the development of its next-generation sequencing platform, which uses biological nanopores. Investors included Lansdowne Partners, IP Group, Invesco Perpetual, Redmile Group, Illumina and other undisclosed parties. The new round brings the total raised by the company to $123 million since its formation in 2005. The U.K.-based biotech is one of a handful of firms developing a next-generation sequencer backed by strategic investor Illumina and others. Oxford Nanopore’s platform technology, called GridION, consists of a scalable modular instrument and self-contained consumable cartridge. GridION is adaptable for the analysis of different types of molecules including DNA and proteins by changing the types of nanopores included in the cartridges.
Cincinnati-based Akebia Therapeutics closed a $22 million series B financing led by existing investors Novartis Venture Fund and Venture Investors, with participation by Triathlon Medical Ventures, Kearny Venture Partners, Athenian Venture Partners and Sigvion Capital and new investors, including AgeChem Venture Fund. The funding will allow Akebia to complete two mid-stage studies of its lead therapeutic for the treatment of anemia. The company says its compound offers an improved safety profile, oral dosing and lower cost of goods over traditional erythropoiesis stimulating agents currently used to treat anemia.
The week’s venture deals capped a strong financing month for privately held life sciences firms with $910 million raised globally, $623 million of that by U.S. companies. At the same time, a robust IPO market saw little activity for life sciences firms, with only two IPOs in the United States, and a smattering of filings by industrial biotechs and medical device firms.
Myriad Genetics acquired Rules-Based Medicine, a Texas-based diagnostics firm that withdrew its IPO offering last year, for $80 million in cash. The acquisition expands Myriad’s diagnostics research portfolio into psychiatric disorders, infectious diseases, and inflammatory diseases, adding eight new molecular diagnostic product candidates to its pipeline. Rules-Based Medicine will operate as a wholly owned subsidiary of Myriad.
The biggest deal of the week, and the biggest life sciences transaction to date for Johnson & Johnson, was the announcement that the healthcare conglomerate will acquires Synthes, a leading global orthopedic device maker, for $21.3 billion in cash and stock. With the acquisition, J&J will claim a dominant share of the market in orthopedic devices, an estimated $37 billion market and growing [See story].
Deals for the Week Ending April 29, 2011 | |||
Global Venture Financings | |||
Company | Location | Amount Raised (USD M) | Principal Activity |
Intrexon | Blacksburg, VA | 66.9 | Genetic engineering |
Akebia | Cincinnati, OH | 22.0 | Vascular therapeutics |
Cianna Medical | Aliso Viejo, CA | 12.0 | Women's health devices |
Xlumena | Mountain View, CA | 7.0 | Endoscopy |
Fate Therapeutics | San Diego, CA | 4.5 | Stem cell therapies |
Oxford Nanopore Technologies | Oxford, United Kingdom | 41.0 | Genomics |
Aslan Pharmaceuticals | Singapore | 12.0 | Pharmaceuticals |
KAHR Medical | Jerusalem, Israel | 3.0 | Autoimmune, cancer therapeutics |
Aerotel | Holon, Israel | 1.8 | Telemedicine |
Indel Therapeutics | Vancouver, BC, Canada | 1.4 | Antibiotics |
NightBalance | the Netherlands | N/A | Pulmonary therapeutics |
Total Raised US | 112.4 | ||
Total Raised Non-US | 59.2 | ||
Grants | |||
Company | Funding Agency | Amount Raised (USD M) | Principal Activity |
Gene Security Network | National Institutes of Health | 2.0 | Prenatal diagnostics |
RXi Pharmaceuticals | National Institutes of Health | 0.6 | RNAi therapeutics |
RXi Pharmaceuticals | Massachusetts Life Sciences Center Cooperative Research Matching Grant | 0.5 | ALS treatments |
Total Grants | 3.1 | ||
Public Financings | |||
Company | Ticker | Amount Raised (USD M) |
Financing Type |
Karolinska Development (Sweden) | SSE:KDEV | 97.6 | IPO |
Living Cell Technologies (Australia) | ASX:LCT | 3.2 | PIPE |
ProMetic Life Sciences (Canada) | TSX:PLI | 2.9 | PIPE |
A.P. Pharma | OTC:APPA | 4.5 | PIPE |
Cell Therapeutics | CTIC | 16.0 | PIPE |
Sinopharm (China) | HK:1099 | 440.0 | Follow on |
Shandong Weigao Group Medical Polymer (China) | HK:8199 | 226.7 | Follow on |
Oncothyreon | ONTY | 40.0 | Follow on |
IntegraGen (France) | Euronext:ALINT | 2.4 | Interest free loan from OSEO |
Total Public Financings-US | 60.5 | ||
Total Public Financings-Non-US | 772.8 | ||
M&A | |||
Acquirer | Target | Deal Value (USD M) |
Focus |
Johnson & Johnson | Synthes (Switzerland) | 21,600.0 | Medical devices |
Toshiba Medical Systems (Japan) | Vital Images | 243.0 | Tools/Technology |
Myriad Genetics | Rules-Based Medicine | 80.0 | Diagnostics |
Mitsui & Co (Japan) | MBS (Mercian-Japan) | N/A | CMO |
Iroko Pharmaceuticals | iCeutica (Australia) | N/A | Pharmaceuticals |
Nautic Partners | Omnicare Clinical Research | N/A | CRO |
GE Healthcare | Applied Precision | N/A | Tools/Technology |
Alliances | |||
Company/Licenser | Company/Licensee | Deal Value (USD M) |
Focus |
Sequella | Maxwell Biotech Venture Fund (Russia) | 50.0 | Tuberculosis therapeutic license |
Karo Bio (Sweden) | Alkem Laboratories (India) | 16.4 | Endocrine drug license |
Vale (Brazil) | Embrapa (Brazil) | N/A | Renewable fuels partnership |
BioAmber | Mitsubishi Chemical (Japan) | N/A | Renewable chemicals partnership |
Genomatica | Mitsubishi Chemical (Japan) | N/A | Renewable chemicals Collaboration |
Lupin (India) | Abbott Laboratories, Laboratoires Fournier | N/A | Pharmaceuticals license |
Eli Lilly | Medtronic | N/A | Parkinson's drug/device collaboration |
Biovista | Novartis (Switzerland) | N/A | Pharmaceuticals collaboration |
Dyax | FivePrime Therapeutics | N/A | Antibody collaboration |
Nano Terra | Kadmon Pharmaceuticals | N/A | Pharmaceuticals license |
Bar Harbor Biotechnology | Clinical Reference Laboratory | N/A | Diagnostics collaboration |
gvk bioSciences Private (India) | U.S. Food and Drug Administraton | N/A | Biomarker library license |
Paragon Bioservices | University of Maryland | N/A | Stem cell therapies collaboration |
April 29, 2011
http://www.burrillreport.com/article-intrexon_raises_66_9_million_to_advance_synthetic_biology.html