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Wednesday, June 24, 2009

Blacksburg firm gets $10 million infusion

Intrexon Corp., a Blacksburg pharmaceutical company, said Tuesday it has received $10 million in added funding to continue work on new cancer therapies.

Third Security LLC, a Radford investment firm that has supported Intrexon in the past, furnished the money through a fund called New River Management V. Third Security entities have previously invested $56.5 million in Intrexon.

Last month, the company announced the availability of an experimental treatment for people with advanced metastatic melanoma in which gene therapy and cell therapy are used to induce an attack on the cancer.

The research is under the auspices of a team at the University of Pittsburgh. Details are available at www.clinicaltrials.gov using the identifier NCT00815607.

-- Jeff Sturgeon


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