Intrexon Corp. Hits the Big Time from Humble Local Beginnings
(August 8, 2013) Intrexon Corp., a biotech company with local roots, made its debut on the New York Stock Exchange under the symbol “XON.” The synthetic biology company’s stock soared as much as 40%, valuing the company at $2 billion. Not a bad start for a company that began with one man, an idea and nurturing from the Hamilton County Business Center (HCBC) in Norwood. The company was known as Genomatix Ltd. when it began at HCBC in 1998.
Intrexon founder, Thomas D. Reed, Ph.D., had an idea but no funding when he began his business at HCBC. Coming out of the University of Cincinnati, Reed didn’t have to go far in finding a home in the incubator along side of other tech startups. For the five years that followed, Reed was coached, mentored, and vetted in HCBC’s entrepreneurship assistance programs. He grew his business to five employees and took every advantage of HCBC’s various business services. He attended the Morning Mentoring sessions that included meetings with local professional developers and investors. Reed received feedback on his strategic plan from a panel of subject matter experts in HCBC’s Sounding Board program. In addition to mentoring and coaching services, HCBC was able to provide Reed with a bridge loan that helped him attract additional investment dollars in his early-stage company.
“This is what makes business coaching worth it,” said Patrick Longo, director of HCBC. “Seeing an idea grow into a billion dollar corporation is a dream come true. It is not every day that incubators see graduates reach such high levels and I feel honored to have played a part in Intrexon’s foundation.”