We are advising Precigen on the transaction

Davis Polk is advising Precigen, Inc. on the sale of its wholly-owned non-healthcare subsidiary, Trans Ova Genetics, L.C. (“Trans Ova”), an industry-leading animal reproductive technologies company, to URUS for $170 million in upfront cash and up to $10 million earn-out based on the performance of Trans Ova in 2022 and 2023. The closing of the transaction, which is expected to occur in the third quarter of 2022, is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Precigen is a dedicated discovery and clinical stage biopharmaceutical company advancing the next generation of gene and cell therapies using precision technology to target the most urgent and intractable diseases in our core therapeutic areas of immuno-oncology, autoimmune disorders and infectious diseases. URUS, a holding company owned through a unique partnership between a farm cooperative and family ownership, connects global agricultural leaders.

The Davis Polk corporate team includes partner Lee Hochbaum and associates Heather Weigel and Allison N. First. Partner David H. Schnabel is providing tax advice. Partner Jeffrey P. Crandall and associate Charlotte R. Fabiani are providing executive compensation advice. The intellectual property and technology transactions team includes partner David R. Bauer. The Davis Polk capital markets team includes partners Deanna L. Kirkpatrick and Yasin Keshvargar. Partner Arthur J. Burke is providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office.

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