Intrexon trades higher after Medistem acquisition

|About: Intrexon Corp (XON)|By:, SA News Editor

Shares of Intrexon (XON +1.4%) look to close modestly higher after the company's $26M deal for California-based Medistem (MEDS +47.7%) which develops Endometrial Regenerative Cells.

XON says the cells "have the potential to provide treatments for conditions such as cancer, wound healing, and cardiovascular disease," when combined with integrated synthetic biology platforms.

More specifically, XON plans to "develop two powerful classes of clinical products": Engineered stem cells for "therapeutic delivery of secreted proteins" and for "producing exosomes."

MEDS shareholders are getting $0.27 in cash and "$1.08 worth of XON common stock." (PR)