Biotech, Intrexon Corp, files for IPO

July 10
5:06 AM 2013

Intrexon Corp, a Florida-based biotechnology company, has filed with U.S. Securities and Exchange Commission an initial public offering of common stock. The company intends to raise up to US$125 million.

The company in their filing to the U.S Securities and Exchange Commission stated that intends to list its common stock on the New York Stock Exchange under the symbol "XON". The filing also listed JPMorgan Chase and Co. and Barclays as underwriters for the upcoming initial public offering. The filing, however, did not disclose how many shares the company would be offering or their expected price per share.

Proceeds from the IPO would be used to enhance its research and development programs, the company said.

Intrexon Corp. was founded in 1998 by Thomas Reed, a molecular geneticist. Today, the company is headed by Randal Kirk, the chief executive of the biotechnology company for more about 8 years. Randal Kirk is the former chairman of Clinical Data Inc. which was eventually sold in 2011 to Forest Laboratories Inc for around US$1.2 billion

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