Technical.ly Baltimore

Business

Dec. 26, 2013 9:15 am

Intrexon acquires San Diego-based stem cell company for $26M

The Maryland synthetic biology company bought Medistem Inc., which has led the development of "universal donor adult stem cells."

Germantown-based biotech company Intrexon Corp. has acquired a San Diego-based company for $26 million.

According to CityBizList, the Maryland synthetic biology company bought Medistem Inc., which has led the development of “universal donor adult stem cells that stimulate new blood vessel formation and are capable of generating different tissues.”

In spring 2013, Intrexon raised more than $85 million in a new round of funding, preparation for its $160 million IPO, which happened in August. Founded in 1998, Intrexon so far is unprofitable.

-30-
Andrew Zaleski

Andrew Zaleski is Technically Baltimore's lead reporter. Before joining Technically Baltimore, he was digital media editor for Urbanite magazine. He graduated from Loyola University Maryland in May 2011.

Profile   /   @ajzaleski   /   Send an email
Advertisement