Precigen Inc. (NASDAQ: XON), a publicly traded biopharmaceutical and bioengineering company, engaged Cascadia Capital to provide transaction advisory services in the divestiture of its stake in GreenVenus, an agriculture biology company developing products and solutions that enable sustainable food production. With next generation plant propagation, precision genetics, and technology for “on-demand” traits, GreenVenus seeks to improve the quality of food and feed while preserving valuable natural ecosystems.
Formerly Intrexon Corporation, Precigen is a leader in the engineering and industrialization of biology to improve the quality of life and health of the planet. The Company recently announced a strategic decision to refocus the business on healthcare and sell its smaller non-healthcare businesses. Third Security, LLC, a venture capital firm that invests in high-growth, technology-driven businesses agreed to purchase certain assets, including GreenVenus.
Cascadia advised a Special Committee to Precigen’s Board of Directors in their divestiture of non-healthcare assets. Additional detail can be found in the following press release.
The sale represents another successful transaction for Cascadia in the Food, Beverage & Agribusiness sector. Recent transactions include the sale of FruitSmart to Universal Corporation, Intrexon’s divestiture of AquaBounty, the acquisition of Firestone Pacific Foods by Agriculture Capital Management, Auvil Fruit Companys equity raise, and the sale of More than Gourmet to Ajinomoto.
For more information about this transaction, please contact the Cascadia Capital deal team:
Chairman & CEO
Senior Vice President