Synthetic Biologics has enterd into second worldwide exclusive channel collaboration with Intrexon to address unmet medical needs of infectious diseases.
Synthetic Biologics leverages Intrexon's suite of proprietary technologies for the discovery of fully human mAbs for the treatment of certain infectious diseases not adequately addressed by existing therapies.
Synthetic Biologics chief executive officer Jeffrey Riley said the second worldwide exclusive collaboration helps to strengthen the company's relationship with Intrexon and develop new therapeutics for unmet medical needs.
"Intrexon has state-of-the-art technologies and efficient processes that have tremendous potential for the production of a broad spectrum of fully human antibodies," Riley added.
Under the agreement, collaboration may be expanded to include up to an additional five infectious disease indications. Synthetic Biologics anticipates disclosing selected indications from time to time as business and commercial considerations dictate.
Under the agreement, Synthetic Biologics will have access to Intrexon's technologies including UltraVector, DNA and RNA MOD engineering, protein engineering, transcription control chemistry, genome engineering, LEAP-based cell processing and cell system engineering.
Intrexon will earn approximately 3.6 million shares of Synthetic's common stock as a technology access fee upon execution of the agreement together with previously issued shares and following the transaction Intrexon will own approximately 18% of Synthetic Biologics.
It is also eligible to receive additional fee, milestone fee in cash or additional shares of common stock and quarterly royalties in cash on annualised worldwide net sales.
