Maryland-based Intrexon Corp. (NYSE: XON), a leader in synthetic biology, announced Friday that it has completed the acquisition of San Diego-based Medistem Inc. (OTC: MEDS).
Medistem is a pioneer in the development of endometrial regenerative cells (ERCs), which are universal donor adult-derived stem cells with properties uniquely suited for therapeutic use with Intrexon's existing suite of synthetic biology technologies.
Upon integration of these platforms, ERCs could be manufactured as genetically modified vehicles to secrete powerful therapeutic effectors in the body for clinical benefit to patients suffering from many different diseases.
In combination with Intrexon's gene engineering and assembly techniques, Medistem's ERCs have the potential to be utilized as vehicles to deliver novel genetically controlled therapies for conditions such as cancer, inflammation, and a number of orphan diseases.
Thomas Ichim, Ph.D., former Medistem, president and chief science officer, has agreed to join the Intrexon team within its cell engineering unit.
Under the terms of the agreement, Medistem stockholders will receive 27 cents in cash plus $1.08 worth of Intrexon common stock in exchange for each share of Medistem common stock.