Wednesday, June 24, 2009

Blacksburg's Intrexon Gets Cash Infusion

A Blacksburg company that has announced it has found an experimental treatment for advanced metastatic melanoma, a skin cancer, has received an investment of $10 million to continue its work.

Third Security of Radford has added the funds to $56.5 million already invested in Intrexon Corp., a life sciences company focused on modular DNA control systems for biotherapeutics and other industry sectors. The new Series C-2 investment comes through New River Management V, a division of Randall Kirk’s Third Security. Gene and cell therapy are used in the new treatment.

This is the final investment for NRM-V, which is now fully committed. Third Security intends to continue its investment strategy with a new fund, New River Management VI.

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