AquaBounty Raising $6 Million
for FDA Approval

AquaBounty Technologies has entered into an agreement to issue 22,833,295 common shares in order to raise $6 million. This subscription as it is known was passed on March 15, 2013. The total number of company shares will be 125,138,983 of which the Intrexon Corporation will hold 67, 346, 258. shares.

AquaBounty chairman is said to be pleased with the backing of its majority shareholder Intrexon as it will enable the company to continue to seek FDA approval and bring their AquaAdvantage salmon to commercial markets.

With an agreement signed AquaBounty be able to work with what the chairman called, Intrexon’s considerable capability in synthetic biology to develop value added products for the aquaculture sector.