By Lisa Kerner
Erie, Pa., March 1 - Intrexon Corp. said it has closed a $1 million round of financing.
Proceeds will be used for the advancement of its subcellular tools and related marketing initiatives.
The financing was provided by NewVa Capital Partners, LP.
"This financing will enable us to expand our capabilities and offerings in the emerging market for subcellular inhibition tools," chief executive officer Robert Beech said in a company news release.
According to Beech, Intrexon's tools add a critical dimension to the study of kinases and phosphatases, key enzymes of interest to the pharmaceutical and biotechnology industries.
Located in Blacksburg, Va., Intrexon provides genetic tools for subcellular research.
| Issuer: | Intrexon Corp.
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| Issue: | Venture capital
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| Amount: | $1 million
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| Investor: | NewVa Capital Partners, LP
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| Announcement date: | March 1
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