Biotech Values

[DewDiligence]

XON—>PGEN (Precigen, Inc.)—new CEO—portfolio cleanup:

https://www.prnewswire.com/news-releases/intrexon-to-achieve-175m-cash-goal-appoints-helen-sabzevari-phd-as-new-president-and-ceo-and-will-change-name-to-precigen-to-reflect-healthcare-focus-300980434.html

Intrexon Corporation...announced today that it will refocus the company on healthcare, change its name to Precigen, Inc. and, effective immediately, has appointed Helen Sabzevari, PhD, as President and CEO.

The new Precigen will encompass Intrexon's wholly-owned healthcare subsidiaries Precigen, ActoBio Therapeutics, Exemplar Genetics, and its majority ownership interest in Triple-Gene, as well as equity and royalty interests in therapeutics and therapeutic platforms from companies not controlled by Intrexon. Randal J. Kirk has been appointed Executive Chairman.

Additionally, Intrexon has executed binding agreements to sell its smaller non-healthcare businesses for $65.2M plus certain contingent payment rights and entered into an agreement to sell $35M of its common stock. The proceeds from these transactions, combined with the company's cash and short-term investments on hand at December 31, 2019, approximates $175 million thus attaining Intrexon's year-end objective.

The new ticker symbol has not yet taken effect.