BLACKSBURG, Va., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Intrexon Corporation, a synthetic biology company that utilizes its proprietary technologies to provide control over cellular function, today announced that it has elected not to extend the mandatory tender offer that it was required to make for the outstanding shares not already owned by it in AquaBounty Technologies, Inc. (AIM:ABTX), a biotechnology company focused on enhancing the productivity in aquaculture. As a result, the tender offer expired at 1:00 p.m. London time on January 4, 2013. The offer satisfied a requirement of AquaBounty's charter triggered by Intrexon's previously announced acquisition of AquaBounty stock from Linnaeus Capital Partners B.V. and Tethys Ocean B.V. Because the number of shares tendered would not result in Intrexon holding more than 50% of the outstanding shares, the shares tendered into the offer will not be accepted for payment or acquired by Intrexon. Forms of acceptance, relevant share certificates and other documents of title tendered into the offer will be returned to the relevant shareholders in accordance with the terms of the offer.
Thomas Kasser, President of Intrexon's Animal Science Division, stated, "We continue to look forward to working with the AquaBounty team to improve aquaculture productivity and expand the reach of their molecular modification technology. In light of the recent FDA announcement concerning AquaBounty's AquAdvantage® Salmon, we are excited by the potential for AquaBounty's pioneering work to contribute to our efforts to play a leading role in solving the world's emerging food shortages."
About AquaBounty Technologies
AquaBounty Technologies is a biotechnology company focused on improving productivity in commercial aquaculture, a $100 billion industry and the fastest growing segment of the worldwide food industry. The company's objective is the application of biotechnology to ensure the availability of high quality seafood to meet global consumer demand. The company is developing products to address critical production constraints in the most popular farmed species, focusing initially on salmon, trout and shrimp. Its AquAdvantage® fish program is based upon a single, specific molecular modification in fish that results in more rapid growth in early development.
About Intrexon Corporation
Intrexon Corporation is a privately held biotechnology company focused on the industrial engineering of synthetic biology. Intrexon is deploying its extensive capabilities to rapidly design and produce novel and enhanced biological products and processes across multiple industry sectors, including: human therapeutics, protein production, industrial products, agricultural biotechnology, and animal science. The company's advanced bioindustrial engineering platform enables Better DNA™ technology by combining revolutionary DNA control systems with corresponding advancements in modular transgene design, assembly, and optimization to enable unprecedented control over the function and output of living cells. More information about the Company is available at www.dna.com.