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Mergers & Acquisitions

Venture capital firm buys genetically engineered–apple firm as part of a $53 million ag biotech deal

by Craig Bettenhausen
February 7, 2020 | APPEARED IN VOLUME 98, ISSUE 6

 

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Credit: Okanagan Specialty Fruits
Okanagan silences the gene for polyphenol oxidase, resulting in apples that don't go brown as easily.

Okanagan Specialty Fruits, which makes apples genetically engineered to resist browning, is part of a $53 million sale of agricultural biotech assets. The sale is one element of a major restructuring at the biotech firm Precigen, which in January changed its name from Intrexon and changed CEOs to focus on health care. The buyer is the venture capital firm Third Security, which is run by former Intrexon CEO Randal J. Kirk, who is now chairman of Precigen.

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