Intrexon to acquire Oxitec
The US synthetic biology company, Intrexon Corporation (Germantown, Maryland), has agreed to acquire the UK biotechnology company, Oxitec (Abingdon, Oxfordshire). Oxitec employs RIDL (release of insects carrying a dominant lethal gene) technology to control insect pests. It has focused on genetically modified dengue-carrying mosquitoes, Mediterranean fruit flies, olive flies, diamondback moths, pink bollworms and tomato leaf miners. Intrexon intends to integrate its synthetic biology platform to advance Oxitec's existing initiatives on disease vectors and agricultural pests. Oxitec's shareholders will receive approximately $80 million in Intrexon common stock and $80 million in cash. The acquisition is expected to be completed later this year.