Intrexon Corporation (NASDAQ: XON) shares rose Thursday. Intrexon and Merck KGaA, Darmstadt, Germany, reported an agreement realizing Precigen's vision for the full developmental autonomy of its CAR-T program.
The Germantown, Md. company and its wholly-owned subsidiary Precigen, a biopharmaceutical company specializing in the development of innovative gene and cellular therapies to improve the lives of patients, today announced Intrexon has assumed its agreement with Merck KGaA, Darmstadt, Germany, a leading science and technology company, through its wholly-owned subsidiary Ares Trading, for the development of Chimeric Antigen Receptor T-cell (CAR-T) therapies, which are genetically engineered t-cells with synthetic receptors that recognize a specific antigen expressed on tumor cells.
Upon closing, the agreement will enable Precigen's complete autonomy of its CAR-T program and allow Merck KGaA, Darmstadt, Germany, to maintain an investment in the future potential of next generation CAR-T development.
Under the terms of the agreement, Merck KGaA, Darmstadt, Germany, will assign its exclusive CAR-T development rights to Intrexon, allowing Precigen to continue autonomous development of its proprietary CAR-T technology platform. Merck KGaA, Darmstadt, Germany will receive $150 million in Intrexon stock in exchange for assigning its CAR-T rights.
Intrexon is "Powering the Bioindustrial Revolution with Better DNA™", to quote its website, to create biologically-based products that improve the quality of life and the health of the planet.
Intrexon's integrated technology suite provides its partners across diverse markets with industrial-scale design and development of complex biological systems delivering unprecedented control, quality, function, and performance of living cells.
Shares acquired 26 cents, or 3.6%, to $7.39
