Intrexon And Amneal Expand Relationship With Second Product Collaboration
SAN CARLOS, Calif. and BRIDGEWATER, N.J., Oct. 2, 2014 /PRNewswire/ -- Intrexon Corporation (NYSE: XON), a leader in synthetic biology, and Amneal Pharmaceuticals LLC, the seventh largest generic drug manufacturer by volume in the U.S., today announced the formation of a second Exclusive Channel Collaboration (ECC) for a target active pharmaceutical ingredient (API). Utilizing Intrexon's robust microbial-based expression system, the goal of the collaboration is to develop a consistent, scalable, and cost-effective process for the targeted complex API.
"The power of Intrexon's synthetic biology platform in conjunction with our generic pharmaceutical development capabilities is well-suited for the advance of novel approaches to active pharmaceutical ingredients, enabling us to think beyond current production platforms," said Chintu Patel, CEO and Co-Chairman of Amneal. "The progress achieved under our initial ECC led to this expansion of our combined efforts."
This collaboration with Amneal marks Intrexon's third partnered program this year in which the Company is applying its microbial technology platform to produce APIs more efficiently than current methods. By utilizing pathway development as well as strain and fermentation optimization to advance API production processes, Intrexon's approach replaces complex, multistep chemical synthesis of APIs and also avoids resource-intensive isolation of therapeutics from animals and plants.
"This expanded partnership leverages the strengths of both organizations to develop and commercialize a high quality product for patients through a more modernized and controlled manufacturing process," said Gregory Frost, Ph.D., Senior Vice President and Head of Intrexon's Health Sector. "We are pleased to collaborate with Amneal on this API in a profit sharing structure given the value of this potential opportunity."
Under the terms of the agreement, Amneal will have access to all of Intrexon's technologies and expertise to improve production of the target API. The agreement between Amneal and Intrexon provides for a sharing in the research and development costs associated with leveraging the value of their combined capabilities, as well as a sharing of the operating profits.
About Amneal
Headquartered in Bridgewater, New Jersey, Amneal Pharmaceuticals LLC is a U.S.-based developer and manufacturer of high quality generic pharmaceuticals globally. The Company owns and operates manufacturing, R&D, packaging, sales and distribution facilities throughout the U.S. and abroad. Amneal prides itself on an unwavering commitment to quality, reliability and innovative approaches to maximizing value for all stakeholders. Amneal's impressive growth has been spurred by extensive investment in R&D, intelligent product selection, aggressive geographic expansion, and a vertically integrated strategy. For more information, visit www.amneal.com.
About Intrexon Corporation
Intrexon Corporation (NYSE: XON) is a leader in synthetic biology focused on collaborating with companies in Health, Food, Energy, Environment, and Consumer Sectors to create biologically-based products that improve the quality of life and the health of the planet. Through the company's proprietary UltraVector® platform and suite of technologies, Intrexon provides its partners with industrial-scale design and development of complex biological systems. The UltraVector® platform delivers unprecedented control over the quality, function, and performance of living cells. We call our synthetic biology approach and integrated technologies Better DNA®, and we invite you to discover more at www.DNA.com.
Trademarks
Intrexon, UltraVector, and Better DNA are trademarks of Intrexon and/or its affiliates. Other names may be trademarks of their respective owners.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
For more information contact:
Amneal Contact:
General Counsel
AMNEAL PHARMACEUTICALS LLC
Bridgewater, New Jersey 08807, U.S.A.
Telefax: (908) 947-3147
Intrexon Corporation Contacts:
Corporate Contact:
Marie Rossi, Ph.D.
Senior Manager, Technical Communications
Tel: +1 (301) 556-9850
publicrelations@intrexon.com
Investor Contact:
Christopher Basta
Vice President, Investor Relations
Tel: +1 (561) 410-7052
Investors@intrexon.com
SOURCE Intrexon Corporation