Intrexon Corporation completed the acquisition of GenVec, Inc..
June 16, 2017
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Intrexon Corporation (NYSE:XON) entered into a definitive agreement to acquire GenVec, Inc. (NasdaqCM:GNVC) for $14.9 million on January 24, 2017. Under the terms, upon the closing of the transaction, GenVec stockholders will receive 0.297 of a share of Intrexon common stock in exchange for each share of GenVec common stock. GenVec stockholders will also receive a right to contingent consideration equal to 50% of any milestone or royalty payments received within 36 months after the closing of the transaction under GenVec's research collaboration and license agreement with Novartis AG (SWX:NOVN). In case of termination, a termination fee of $550,000 will be paid by GenVec, Inc. to Intrexon Corporation. The transaction is subject to the approval of GenVec stockholders, registration statement effectiveness and listing of new shares on stock exchange. The transaction is expected to close in the second quarter of 2017. Roth Capital Partners acted as financial advisor to the Board of Directors of GenVec in connection with the transaction and Peter W. Smith of Thompson Hine LLP acted as the legal advisor to Intrexon and Asher Rubin, William Intner, Robert Hayes, Alison Lehner, Nick Hoover, Samantha Stephenson, Meg McIntyre, Martha Steinman, Phil Katz, Michael DeLarco, William Ferreira, Scott Reisch, Scott McClure, Howard Rosenstock of Hogan Lovells acted as a legal advisor to GenVec in this transaction. Saratoga Proxy Consulting, LLC acted as transfer agent for Genvec and received a fee of $12,500. Roth Capital Partners, LLC received an opinion fee of $0.18 million.
Intrexon Corporation (NYSE:XON) completed the acquisition of GenVec, Inc. (NasdaqCM:GNVC) on June 16, 2017
Precigen, Inc. is a dedicated discovery and clinical-stage biopharmaceutical company advancing gene and cell therapies. The Companyâs proprietary technology platforms develops product candidates designed to target urgent and intractable diseases in its core therapeutic areas of immuno-oncology, autoimmune disorders and infectious diseases. It has developed a pipeline of therapies across multiple indications. The Company operates through two segments: Biopharmaceuticals and Exemplar. Biopharmaceuticals segment is primarily comprised of the Company's legal entities of Precigen and ActoBio, as well as royalty interests in therapeutics and therapeutic platforms from companies not controlled by the Company. Exemplar segment is composed of Exemplar Genetics LLC, doing business as Precigen Exemplar (Exemplar), its wholly owned subsidiary focused on developing research models and services for healthcare research applications.
PRECIGEN, INC. 
