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

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.