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Intrexon to Acquire 48% Stake in AquaBounty Technologies



Intrexon to Acquire 48% Stake in AquaBounty Technologies

Utilizing Biotechnology to Improve Productivity in Aquaculture

BLACKSBURG, Va., Oct. 31, 2012 (GLOBE NEWSWIRE) -- Intrexon Corporation, a
synthetic biology company that utilizes its proprietary technologies to
provide control over cellular function, today announced that it has entered
into a definitive purchase agreement to acquire an approximately 48% interest
in AquaBounty Technologies, Inc. (LSE:ABTX), a biotechnology company focused
on enhancing the productivity in aquaculture, from existing shareholders.
Pursuant to the purchase agreement, Intrexon will purchase 48,631,444 shares
from Linnaeus Capital Partners B.V. and its affiliate, Tethys Ocean B.V., for
$6 million (US) in cash, or approximately $0.123 per share in cash, which is
equivalent to approximately £0.0764 per share[1]. This represents a premium of
approximately 49% to the mid-market closing price of AquaBounty's common stock
on the date immediately preceding this announcement. Upon the closing of the
sale, the founder of Linnaeus Capital, Kakha Bendukidze and three other
directors nominated by Linnaeus Capital will resign their seats on
AquaBounty's board of directors.

In accordance with provisions of AquaBounty's charter, following the close of
the transaction Intrexon is required to commence a tender offer for any and
all of the other outstanding shares of AquaBounty. Intrexon's tender only will
be conditional on receiving acceptances in respect of shares which, together
with the shares acquired from Tethys Ocean and Linnaeus, will result in
Intrexon Corporation holding shares representing more than 50% of the
remaining outstanding shares in AquaBounty. The offer price per share in the
tender will be equal to the per share price paid by Intrexon in its
acquisition of shares from Linnaeus Capital and Tethys Ocean. Further details
on the tender will be provided following the close of the acquisition of
shares pursuant to the purchase agreement.

Thomas Kasser, President of Intrexon's Animal Science Division, stated, "This
transaction will accelerate our efforts to play a leading role in solving the
world's emerging food shortages through biotechnology. AquaBounty's pioneering
work in genetically modified fish is an initial step toward creating a
large-scale, efficient and environmentally safe and sustainable global
aquaculture market. We look forward to working with the AquaBounty team to
improve aquaculture productivity and expand the reach of their molecular
modification technology."

As a condition to executing the definitive agreement with Linnaeus Capital,
Intrexon and AquaBounty executed an agreement restricting AquaBounty's ability
to issue additional securities prior to, and during, the tender offer, and
certain other provisions. Intrexon and AquaBounty expect to negotiate and
execute, prior to the closing of the stock acquisition, a relationship
agreement containing provisions consistent with the rights of a significant
holder of an AIM listed company.

This press release is for informational purposes only and is not a
recommendation, an offer to purchase, a solicitation of an offer to purchase
or a solicitation of consents with respect to any securities. The tender offer
will be made solely pursuant to an offer to purchase and related letters of
transmittal that will be distributed to AquaBounty securityholders.

The availability of the tender offer to shareholders of AquaBounty who are not
resident in and citizens of the United Kingdom may be affected by the laws of
the relevant jurisdictions in which they are located or of which they are
citizens. Persons who are not resident in the United Kingdom should inform
themselves of, and observe, any applicable legal or regulatory requirements of
their jurisdictions. Further details will be contained in the tender offer
document.

The release, publication or distribution of this announcement in jurisdictions
other than in the United Kingdom may be restricted by law and therefore any
persons who are subject to the laws of any jurisdiction other than the United
Kingdom should inform themselves about, and observe, any applicable
requirements. Any failure to comply with the applicable restrictions may
constitute a violation of the securities laws of any such jurisdiction. To the
fullest extent permitted by applicable law, Intrexon disclaims any
responsibility or liability for violation of such restrictions by any person.

About AquaBounty Technologies

AquaBounty Technologies is a biotechnology company focused on improving
productivity in commercial aquaculture, a $100 billion industry and the
fastest growing segment of the worldwide food industry. The company's
objective is the application of biotechnology to ensure the availability of
high quality seafood to meet global consumer demand. The company is developing
products to address critical production constraints in the most popular farmed
species, focusing initially on salmon, trout and shrimp. Its AquAdvantage®
fish program is based upon a single, specific molecular modification in fish
that results in more rapid growth in early development.

About Intrexon Corporation

Intrexon Corporation is a privately held biotechnology company focused on the
industrial engineering of synthetic biology. Intrexon is deploying its
extensive capabilities to rapidly design and produce novel and enhanced
biological products and processes across multiple industry sectors, including:
human therapeutics, protein production, industrial products, agricultural
biotechnology, and animal science. The company's advanced bioindustrial
engineering platform enables Better DNA™ technology by combining revolutionary
DNA control systems with corresponding advancements in modular transgene
design, assembly, and optimization to enable unprecedented control over the
function and output of living cells.

^1 Based on an exchange rate of £0.621 per US$.

CONTACT: For Intrexon Corporation
         Corporate Contact:
         Donald P. Lehr, 301-556-9809
         Chief Legal Officer
         dlehr@intrexon.com
         or
         Investor Contact:
         The Ruth Group
         Stephanie Carrington / Nicole Greenbaum, 646-536-7017 / 7009
         scarrington@theruthgroup.com
         ngreenbaum@theruthgroup.com
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