Oxitec Ltd., a wholly-owned subsidiary of Intrexon (XON), announced that Oxitec do Brasil has signed a contract to launch the Friendly Aedes Project in Juiz de Fora, Brazil, asserts biotech expert John McCamant, editor of The Medical Technology Stock Letter.
Juiz de Fora becomes the second Brazilian municipality and the first city in Minas Gerais state to deploy innovative Friendly Aedes in the fight against dangerous Aedes aegypti mosquitoes — the primary vector of dengue, Zika, chikungunya and yellow fever.
The Friendly Aedes Project will be implemented first covering an area of 10,000 residents in select neighborhoods, which were chosen because of the high prevalence of dengue.
In 2016 there were over 1,600 dengue cases in these areas. Subsequently deployment will be expanded to protect 50,000 residents within Juiz de Fora.
Separately, Intrexon has announced the appointment of Helen Sabzevari, Ph.D., Senior Vice President, Intrexon Health Therapeutics as well as Head of R&D of Precigen Inc.
Dr. Sabzevari brings extensive expertise in research and development of immunotherapy-based therapeutics as well as experience translating novel treatments from pre-clinical stage into the clinic.
Dr. Sabzevari is internationally recognized for her work in the field of immuno-oncology and her patient-first approach to drug discovery. Her contributions in the field of tumor immunology earned her the National Institutes of Health (NIH) merit award for major contribution to the field of cancer immunotherapy.
Intrexon continues to deliver solid news flow from their technology platform which genetically engineers targeted, controlled gene therapies. The “Friendly” mosquito program is advancing smoothly towards providing a revenue stream.
Dr. Sabzevari is a world class researcher with the required experience to fully develop the company's broad
pipeline of preclinical and clinical programs across oncology, rare diseases, and cardiac disease.
We also expect Dr. Sabzevari to help drive additional partnerships that leverage the Company’s gene therapy platform. We rate Intrexon a buy below $42 with a target price of $60.
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