Aquaculture North America

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AquaBounty Technologies issuing shares for $6 million


April 9, 2015
By Erich Luening

Aquaculture biotech company AquaBounty Technologies (ABTX-London exchange) reported in January that it has entered into a subscription agreement to issue 22.88 million shares, raising $6 million US dollars.

 The US Massachusetts-headquartered firm has developed the first genetically modified (GM) AquaAdvantage salmon, now being reared and tested in Panama, and which is currently being reviewed by the US Food and Drug Administration.

 The company has also entered into an Exclusive Channel Collaboration Agreement in which it will have access to its partner Intrexon Corporation’s UltraVector and other technology platforms, the company said.