Welcome!

News Feed Item

Intrexon Launches Leadership Platform in Bovine Genetics

Completes Acquisition of Trans Ova

GERMANTOWN, Md. and SIOUX CENTER, Iowa, Aug. 11, 2014 /PRNewswire/ -- Intrexon Corporation (NYSE: XON), a leader in synthetic biology, today announced it has completed the acquisition of Trans Ova Genetics, L.C., an industry-leading provider of bovine reproductive technologies.  Trans Ova, as a wholly owned subsidiary of Intrexon, will continue to provide the same level of professional service and dedication to its customers operating under the leadership of David Faber, D.V.M., President, and his management team.  Under the terms of the agreement, Trans Ova stockholders received $60 million in cash, $30 million in Intrexon common stock, and $20 million in deferred payments to be paid in three equal installments upon the first, second, and third anniversaries of the closing date.

Intrexon Corporation logo.

"With continued expansion of the world's population, the present approaches to produce food and protein are in need of transformational reproductive technologies to drive a sustainable path forward for current and future generations," said Dr. Faber.  "The combined capabilities and expertise of Intrexon and Trans Ova supply the means to enhance the rate of genetic progress globally, providing cattle farmers superior productivity and efficient utilization of resources in an environmentally responsible manner."

According to the Food and Agriculture Organization of the United Nations (FAO) the worldwide production value of cow milk and indigenous cattle meat totaled $352 billion in 2010, and FAO projects global consumption of dairy and beef products will increase 158 percent by 2050.  For the past three decades, Trans Ova has set the standard for excellence in reproductive technologies for both cattle producers and dairy farmers leading to its current position as the largest producer and supplier of bovine embryos in the United States.  Through its expertise in embryo transfer, cryopreservation, in vitro fertilization, and genetic preservation, Trans Ova has a completely integrated solution that is at the forefront of the industry.  Global expansion of this toolkit to permit resourceful, high-quality food production will help meet the rising demand for food and protein, and Trans Ova is already developing its international business with growing revenues in South America and Asia.

In addition, the Trans Ova suite of technologies includes platforms for the design and development of research animal models, as well as proficiency in reproducing the favorable genetics of one animal in another.  Advancing the genetics of research animals facilitates leading-edge models that more closely resemble animal or human diseases and better predict therapeutic solutions.  Furthermore Trans Ova's ability to rapidly propagate elite bovine and porcine genetics holds the potential to transform, and in conjunction with OvaXon's pioneering fertility technologies, meaningfully accelerate the rate of efficient food production derived from cattle and pigs.  OvaXon, a joint venture between Intrexon and OvaScience (NASDAQ: OVAS), recently licensed its technology to Trans Ova.

Thomas R. Kasser, Ph.D., Senior Vice President and Head of Intrexon's Food Sector, spoke of the integration of the two platforms, "Together with Intrexon's broad technology platform in both food and animal health, Trans Ova is well positioned to develop and implement new tools and reproductive technologies that will help move the science of genetic improvement in animals forward, enabling unparalleled productivity advancements in the dairy, beef and pork industries."

About Trans Ova Genetics
Trans Ova Genetics provides industry-leading reproductive technologies and expertise to cattle breeders through a unique professional services team that works closely with clients to understand their breeding goals, and ultimately help clients advance and extend superior genetics. Trans Ova Genetics understands the process that will help multiply a herd's genetic success.  Internationally recognized as a source of superior animal husbandry and reproductive expertise, Trans Ova Genetics offers an integrated system of regional centers, satellite stations and on-farm application of reproductive technologies.

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 Sectors to create biologically-based products that improve the quality of life and the health of the planet.  Through the company's proprietary UltraVector® platform and suite of technologies, 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, 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 that involve a number of risks and uncertainties and are made pursuant to the Safe harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon Intrexon's current expectations and projections about future events and generally relate to Intrexon's plans, objectives and expectations for the development of Intrexon's 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. These risks and uncertainties include, but are not limited to, (i) Intrexon's current and future ECCs and joint ventures; (ii) developments concerning Intrexon's collaborators; (iii) Intrexon's ability to successfully enter new markets or develop additional products, whether with its collaborators or independently; (iv) competition from existing technologies and products or new technologies and products that may emerge; (v) actual or anticipated variations in Intrexon's operating results; (vi) actual or anticipated fluctuations in Intrexon's competitors' or its collaborators' operating results or changes in their respective growth rates; (vii) Intrexon's cash position; (viii) market conditions in Intrexon's industry; (ix) Intrexon's ability, and the ability of its collaborators, to protect Intrexon's intellectual property and other proprietary rights and technologies; (x) Intrexon's ability, and the ability of its collaborators, to adapt to changes in laws or regulations and policies; (xi) the ability of Intrexon's collaborators to secure any necessary regulatory approvals to commercialize any products developed under the ECCs; (xii) the rate and degree of market acceptance of any products developed by a collaborator under an ECC; (xiii) Intrexon's ability to retain and recruit key personnel; (xiv) Intrexon's expectations related to the use of proceeds from its initial public offering; (xv) Intrexon's estimates regarding expenses, future revenue, capital requirements and needs for additional financing; and (xvi) Intrexon's expectations relating to AquaBounty and Trans Ova. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Intrexon's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Intrexon's Annual Report on Form 10-K for the year ended December 31, 2013, and Quarterly Report on Form10-Q for the period ended March 31, 2014, as well as discussions of potential risks, uncertainties, and other important factors in Intrexon's subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Intrexon undertakes no duty to update this information unless required by law.

For more information contact:

Trans Ova Genetics Contact:
Media Contact:
Sara Kober
Trans Ova Genetics
1-800-999-3586

Intrexon Corporation Contacts:
Corporate Contact:
Marie Rossi, Ph.D.
Senior Manager, Technical Communications
Tel: +1 (301) 556-9850
[email protected]

Investor Contact:
Christopher Basta
Vice President, Investor Relations
Tel: +1 (561) 410-7052
[email protected]

Logo - http://photos.prnewswire.com/prnh/20130919/NY83283LOGO

SOURCE Intrexon Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are a leader in the market space called network visibility solutions - it enables monitoring tools and Big Data analysis to access the data and be able to see the performance," explained Shay Morag, VP of Sales and Marketing at Niagara Networks, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for s...
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.