Intrexon Closes Medistem Acquisition

(RTTNews) - Intrexon Corp. (XON), a synthetic biology company, said Friday it has completed the acquisition of San Diego-based Medistem Inc. (MEDS).

According to Intrexon, Medistem is a pioneer in the development of Endometrial Regenerative Cells (ERC), universal donor adult-derived stem cells with properties uniquely suited for therapeutic use with Intrexon's existing suite of synthetic biology technologies.

Upon integration of the platforms, ERCs could be manufactured as genetically modified vehicles to secrete powerful therapeutic effectors in the body for clinical benefit to patients suffering from many different diseases, Intrexon said.

In combination with Intrexon's diverse proprietary suite of technologies, including its UltraVector gene engineering and assembly, RheoSwitch Therapeutic System platform, and Cell Systems Informatics, Medistem's ERCs have the potential to be utilized as vehicles to deliver novel genetically controlled therapies for conditions such as cancer, inflammation, and a number of orphan diseases.

Thomas Ichim, former president and chief science officer of Medistem, has agreed to join the Intrexon team within its Cell Engineering Unit.

Under the terms of the deal, Medistem stockholders will receive in exchange for each share of Medistem common stock $0.27 in cash and $1.08 worth of Intrexon common stock, or about 0.03920 shares.