SC Launch Company Immunologix Acquired by Intrexon
October 28, 2011
CHARLESTON, SC – October 28, 2011 – SCRA, on behalf of its SC Launch program, announced that Portfolio Company Immunologix has been acquired by Virginia-based synthetic biology company Intrexon Corporation. The Charleston-based Immunologix team is now part of Intrexon’s Protein Production Division.
When originally founded, Immunologix acquired a MUSC technology directed to the generation of fully human antibodies from naïve B-cells isolated from tonsil tissue. This technology permits the discovery of fully human antibodies through an in-vitro system, to any antigen. The current market for therapeutic and diagnostic antibodies is estimated to exceed $40B per year worldwide, and many of the current marketed antibodies are not fully human.
“We congratulate Immunologix on this next stage of growth and welcome Intrexon Corporation to South Carolina,” said SCRA Executive Vice President and SC Launch Executive Director Dave McNamara. “This acquisition will allow the antibody technology to reach further markets and introduces Intrexon Corporation as the latest member of South Carolina’s Knowledge Economy.”
We look forward to sharing future achievements with the Knowledge Economy as we expand R&D efforts towards new medical solutions said Dr. Ryan Fiorini, the Immunologix founder and now Vice President of Antibody Development.
“SCRA views this acquisition as an outstanding example of knowledge economy development. An MUSC discovery was licensed and developed by emerging company Immunologix. Immunologix secured investment and support from SC Launch and other private investors to continue development which ultimately led to the recent acquisition by Intrexon,” said SCRA CEO Bill Mahoney. “This progression, bringing South Carolina technology from the lab to the market, clearly demonstrates the development capabilities of our state’s knowledge economy.”
Since its inception by SCRA in 2006, and with initial funding of $12 million in SCRA earnings, SC Launch has supported and funded 188 companies in SC, helped draw 12 landing parties to the state, provided business services to 230 early stage companies in SC through a powerful Resource Network and helped position emerging South Carolina companies to secure more than $140 million in follow-on funding from angel, venture and other private capital sources. SC Launch has been recognized regionally, nationally and internationally for leadership in entrepreneurial support and technology-based economic development.
About SCRA
http://www.scra.org/
SCRA is an applied research company with over 28 years of experience in delivering technology solutions with high returns on investment to federal and corporate clients. Our Applied R&D affiliate manages over 100 national and international programs worth over $1.4B in contract value, and our technology-based economic development affiliate helps early-stage companies to commercialize innovations and create jobs. In support of our mission, SCRA builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops.
