BRIDGEWATER, N.J. and GERMANTOWN, Md., March 10, 2014 /PRNewswire/ -- Amneal Pharmaceuticals LLC, the seventh largest generic drug manufacturer by volume in the U.S., and Intrexon Corporation (NYSE: XON), a leader in synthetic biology, today announced the formation of an Exclusive Channel Collaboration (ECC) to develop an improved production process for a complex active pharmaceutical ingredient (API). The companies will continue to explore other similar opportunities for collaboration in the future.
The vast majority of active pharmaceutical ingredients are currently produced through a series of complex chemical processes. The goal of the collaboration is to develop a biological process for a targeted API production that may reduce the cost of production. The collaboration will leverage Intrexon's proprietary UltraVector® platform as well as the company's suite of integrated synthetic biology technologies.
Chintu Patel, Co-CEO and Chairman, of Amneal said, "Intrexon has an impressive track record developing the full potential of synthetic biology. This is an exciting new proposition for the expansion of our generic pharmaceutical development capabilities. We are hopeful that success on this project is the beginning of an ongoing relationship that will grow our pipeline and cultivate a broader, more robust offering for our customers."
Samuel Broder, M.D., Chairman of Intrexon's Health Sector and former Director of the National Cancer Institute, said, "Amneal is a leader in high quality generic pharmaceuticals. Their experience combined with Intrexon's synthetic biology technology has the potential to drive a complex, multi-step chemical process toward a new era of more affordable drugs produced through biology-enabled production methods."
Headquartered in Bridgewater, New Jersey, Amneal Pharmaceuticals LLC is a U.S.-based developer and manufacturer of high quality generic pharmaceuticals globally. The Company owns and operates manufacturing, R&D, packaging, sales and distribution facilities throughout the U.S. and abroad. Amneal prides itself on an unwavering commitment to quality, reliability and innovative approaches to maximizing value for all stakeholders. Amneal's impressive growth has been spurred by extensive investment in R&D, intelligent product selection, aggressive geographic expansion, and a vertically integrated strategy. For more information, visit www.amneal.com.
About Intrexon Corporation
Intrexon Corporation (NYSE: XON) is a leader in synthetic biology focused on collaborating with companies in Health, Food, Energy and the Environment to create biologically-based products that improve the quality of life and the health of the planet. Through the company's proprietary UltraVector® platform, Intrexon provides its partners with industrial-scale design and development of complex biological systems. The UltraVector® platform delivers unprecedented control over the quality, function, and performance of living cells. We call our synthetic biology approach and integrated technologies Better DNA®, and we invite you to discover more at www.DNA.com.
Intrexon, UltraVector and Better DNA are trademarks of Intrexon and/or its affiliates. Other names may be trademarks of their respective owners.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
For more information contact:
AMNEAL PHARMACEUTICALS LLC
Bridgewater, New Jersey 08807, U.S.A.
Telefax: (908) 947-3147
Intrexon Corporation Contacts:
Marie Rossi, Ph.D.
Manager, Technical Communications
Tel: +1 (301) 556-9944
SOURCE Intrexon Corporation