Intrexon Chairman and Chief Executive Officer, Randal J. Kirk, said the collaboration with Soligenix reflects the core strengths Intrexon looks for in its exclusive channel collaborations."Soligenix has the expertise and highly focused mission we look for in all our collaborations," Mr. Kirk said. "Although we are engaging with increasingly larger enterprises in Health, Food, Energy and Environment, we shall continue to explore powerful combinations with smaller, specialized companies that have great teams, grand vision and deep expertise." Additional terms under the collaboration agreement include:
- Soligenix will receive an exclusive, worldwide license to utilize the products of Intrexon's modular genetic engineering platform for the development of active pharmaceutical ingredient(s) (API) and drug products targeting Melioidosis.
- Soligenix will leverage Intrexon's proprietary platforms and technologies, including the UltraVector ® and mAbLogix ™ platforms, LEAP ™ instrument, protein engineering, inducible gene systems, genome engineering, and cell systems engineering to the collaboration's programs.
- Soligenix will issue to Intrexon 1,034,483 shares of its common stock, representing 8.5% of Soligenix's issued and outstanding shares.
- Intrexon will be granted the right to participate in securities offerings that may be conducted by Soligenix in the future as well as the right to make purchases of Soligenix's common stock in the open market.
- Soligenix will pay development milestones and royalties on net sales derived from the sale of products developed from the channel collaboration.
- For more information regarding the agreement visit http://www.soligenix.com/invest_secfilings.shtml.