Ginkgo BioWorks was founded in 2008 by five MIT PhDs. Its business model is reliant on other companies choosing to use Ginkgos technology to make their own products, like animal-free meat or a molecule that could make drugs easier to manufacture. You can fix a lot of things with money, says Brennan. The deal with Soaring Eagle Acquisition Corp. generated . Instead of making a chemical from petroleum, why not have Ginkgos multi-floor foundry in Boston's seaport design a yeast cell to manufacture it instead from a broth of sugar water? Times must be good when a young biotech company can afford to hire people to write unrelated magazine-style articles, snarked Dirk Haussecker, a savvy biotech stock picker who is active on Twitter. Gornall can see a bettors logic to the Ginkgo gamble. Ellie Laukaitis - Manager, Mammalian Cell Operations - Ginkgo Bioworks Someday were going to grow chips not chips to eat, computer chips. Research Associate II, High Throughput Screening Operations (evenings) Boston, MA. We can work with you from initial organism design through production process scale-up. I am not a product company, and I have no desire to be a product company, Kelly told me. The other, massoia lactone, is a clear liquid normally isolated from the bark of a tropical tree; used as flavoring, it can sell online for $1,200 a kilogram. Ginkgo Bioworks. Literally. But in todays bull market, being a skeptic doesnt pay. Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Some deals, like the one that took Richard Bransons space company Virgin Galactic Holdings public, have done well, but five electric-car companies that went public via SPACs were subsequently pummeled with what Bloomberg called brutal corrections. Ginkgo Bioworks is expanding again in Boston's Seaport Marcus Partners is developing a 219,000-square-foot life-sciences building at the former Au Bon Pain headquarters in Boston's Seaport. Once we have a successful example, people start calling me, he said. Boston, MA 814-422-5362 Website Overview. The foundries are built to scale the process of organism engineering using software and hardware automation. Explore Ginkgo's capabilities for therapeutics and vaccines, agriculture, nutrition and wellness, and more. Full of teamwork, easy to be self-motivated, and extra work/effort generally does not go unnoticed. Associate Director, Commercial Operations. Boston-based Ginkgo Bioworks began trading on the New York Stock Exchange on Friday, becoming the latest company to close a SPAC merger and go public. Ginkgo Bioworks is a small health care company based in Boston, MA with only 200 employees and an annual revenue of $5.2M. Ginkgo leverages our organism engineering platform to provide fermentation-based production routes for marketed ingredients to our partners. He is very charismatic, she says of Kelly. Besides Motif FoodWorks, which operates in the same building, Gingko created Allonnia, a company developing microbes to break down pollution, which also subscribes to its foundry services. When the SPAC deal is finalizedsometime in Septemberthe company is going to trade under the stock symbol DNA, once owned by Genentech, an early hero of the biotech scene. Engineering a microbe that performs well in a laboratory reactor is just a first step. BOSTON, June 5, 2023 /PRNewswire/ -- Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, "Ginkgo"), which is building the leading platform for cell programming and biosecurity, announced today that management is scheduled to participate in a fireside chat at the Goldman Sachs 44th Annual Global Healthcare Conference, on June 12, 2023, at 4:40 p.m. PT. All rights reserved. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. Some biotech investors believe this valuation is excessive for a company with little revenue; in 2020 Ginkgo brought in $77 million providing research services and covid-19 tests but lost plenty of money while doing so (more than $137 million, to be exact). The company's technology . The big-ticket acquisition of genetic design company Cell Design Labs signals a coming wave of precision cures. At @ginkgo we were inspired by THINK magazine that IBM used to share what data processing and computers were with the world (and the implications!). Posted by But Ginkgo simultaneously invested $80 million in Synlogic at a sizable premium to its stock price at the time. Privacy Policy and Next up: sickle cell and HIV. For more information, visit ginkgobioworks.comand concentricbyginkgo.com, read our blog, or follow us on social media channels such as Twitter (@Ginkgoand @ConcentricByGinkgo), Instagram(@GinkgoBioworksand @ConcentricByGinkgo),orLinkedIn. Further details, a webcast link, and a replay of the fireside chat will be posted on the company's investor relations website at https://investors.ginkgobioworks.com/events. Kelly says customers can use Ginkgos services instead of building their own lab. Indeed, the particular organisms Ginkgo helped engineer were not successful after they failed to reach our criteria to advance the project into clinical testing, Brennan says. Ginkgo Bioworks, Inc, 27 Drydock Ave, Boston, MA, Engineering Optimizing processes for vaccines with Moderna, Protecting the worlds most valuable technology with IARPA, Producing Cultured Ingredients with Robertet. BOSTON, June 5, 2023 /PRNewswire/ -- Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, "Ginkgo"), which is building the leading platform for cell programming and biosecurity, announced today that management is scheduled to participate in a fireside chat at the Goldman Sachs 44th Annual Global Healthcare Conference, on June 12, 2023, at 4:40 p.m. PT. Ginkgo, which as of June had 830 employees, performs cell engineering for other companies, with the goal of having other firms bring products to market with its know-how. Virtual Event: Cell Therapy Services - Ginkgo Bioworks Biology is the most advanced manufacturing technology on the planet. Kelly confirmed that some of the CEOs of Ginkgos partners, including the head of Motif, raised concerns to him about the unpredictable way Ginkgo was expending the foundry credits theyd been awarded. Its 200,000-square-foot research and cell-design facility sits on Drydock Avenue, and in April Ginkgo said it agreed to lease 150,000 additional square feet in a building project across the street. We program cells to make everything from food to materials to therapeutics. Boston, MA 61,648 followers Making biology easier to engineer. Have you registered yet? The company specializes in using genetic engineering to produce bacteria with industrial applications for other biotech companies, saving other companies the cost of reproducing the initial stages of design in synthetic biology. Running a fermenter year-round could generate a few million dollars worth of such a specialty chemical. Alternatively, were an even shorter Uber or Lyft away or a scenic 17-minute walk. People in biotech are brainwashed to think only products matter.. https://investors.ginkgobioworks.com/events, https://www.prnewswire.com/news-releases/ginkgo-bioworks-announces-participation-in-goldman-sachs-44th-annual-global-healthcare-conference-301841757.html, Do Not Sell My Personal Data/Privacy Policy. I think flavors and fragrances is very far from the vision that biology can make anything, says Church. Ginkgo Bioworks Announces Participation in Goldman Sachs - Morningstar If you boil down the message, its that biology is programmable. That product could see several hundred million in annual sales, which Kelly says Ginkgo will collect part of as royalties. It is nirvana to have an investor who also believes engineered bacteria will be on the shelf at CVS helping people one day.. Making biology easier to engineer . Further details, a webcast link, and a replay of the fireside chat will be posted on the company's investor relations website at . And then you as the customer would grow that in your big tanks if youre Synlogic, itll go into clinical trials as a therapeutic, right? In preparation for the SPAC merger, Ginkgo also told investors that it improved the performance of one Synlogic strain of E. coli several times over. Benzinga does not provide investment advice. That company wound up largely owned by Viking and Ginkgo, while also becoming one of Ginkgos customers. Earlier this year, Soaring Eagle announced it would merge with Ginkgo in a deal that valued the Boston company at $15 billion. Courtney Crow/NYSE More on Globe.com on football Here's what. Ginkgo Bioworks Holdings Inc. has $74 million in the recently failed Silicon Valley Bank, all of it inherited from an acquisition it spent $300 million on last year. A SPAC is a shell company that sells shares to the public in an IPO with the intention of merging with a promising private business, thereby taking it public too. Terms of Service apply. Kellys stake will be worth well more than $700 million. It looks like a great example of a clever story that caught the attention of investors, says Jean-Franois Formela, a venture capitalist at Atlas Venture in Cambridge, Massachusetts. Follow her on Twitter @anissagardizy8 and on Instagram @anissagardizy.journalism. Designing organisms requires a different sort of factory. Circularis, based in Oakland, Calif., developed proprietary circular RNA technology, which Ginkgo plans to integrate into its cell programming platform. Organism engineers at Ginkgo learn from nature to develop new organisms that replace technology with biology. Only when biological engineering is fast and predictable will we fulfill the potential of biological technologies to revolutionize the provision of food, medicine, energy, and materials. As part of the agreement, Synlogic did cut a check for $30 million in cash to Ginkgo for foundry services aimed at improving its strains. BOSTON, June 5, 2023 /PRNewswire/ -- Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, "Ginkgo"), which is building the leading platform for cell programming and biosecurity, announced today that management is scheduled to participate in a fireside chat at the Goldman Sachs 44th Annual Global Healthcare Conference, on June 12, 2023, at 4:40 p.m. PT. Upon arrival, youll be given a 30-minute tour of our Foundry along with lunch (or breakfast) and refreshments. View original content to download multimedia:https://www.prnewswire.com/news-releases/ginkgo-bioworks-announces-participation-in-goldman-sachs-44th-annual-global-healthcare-conference-301841757.html. At first the company got by on government grants and cast-off equipment salvaged from MITs campus; we had $150,000 and a U-Haul, says Kelly. We sell different types of products and services to both investment professionals and individual investors. And that is all that leaves that big factory. More recently, Ginkgo has sought to play a bigger role in the manufacture of new biotech drugs, a more lucrative arena. How we use your information depends on the product and service that you use and your relationship with us. Ginkgo Bioworks, Inc. | LinkedIn At Ginkgo we are unifying these tools into a horizontal platform for programming cells across organisms. However, many of its customers are not fully independent from Ginkgo. Ginkgo Bioworks' ( NYSE: DNA) first quarter results were something of a mixed bag, with continued progression on a number of metrics offset by rising costs and declining revenues. Cambridge, MA 02139 Ginkgo Bioworks, the Boston-based synthetic biology company, said Tuesday that it has acquired two biotech companies, Altar and Circularis. Ginkgo Bioworks Announces Participation in Goldman Sachs - Benzinga Were having trouble saving your preferences. They were the first real biotech company to come through Y Combinator, says Michael Koeris, a professor of bioprocessing at the Keck Graduate Institute, who once ran a startup, Sample6, in the same building as Ginkgo. But its not that easy, he says. Scientists believe circular RNA could work better than RNA strands as a potential therapy because it lasts longer in cells. Just dont ask him to make any products. Ginkgo engineers organisms for customers we dont manufacture or sell molecules. display: none; . Countless, but to name a few. See jobs Follow View all 1,222 employees . Ginkgo Bioworks, based in Boston, employs approximately 200 people and is currently valued at $1 billion. Instead, this summer Synlogic announced it would begin human tests of a new version of its E. coli engineered by enEvolv, a startup recently purchased by Zymergen, which she says brought capabilities to the project that Ginkgo did not have at the time. It doesnt seem to add up to $15 billion to me. Still, Church says he hopes that Ginkgo does succeed. #ada-button-frame { Ginkgo Bioworks buys Zymergen for $300 million The Boston company plans to integrate the California firm's software into its cell programming technology. The company is on track to start 30 new programs in 2021. Contact Us - Ginkgo Bioworks According to Ginkgos financial documents, more than half its foundrys 2020 revenues came from a few related companies that it partly owns. Just because you have a bug that produces a gram per liter in a flask doesnt mean you are ready to be commercial., John Melo, CEO of Amyris, another synthetic-biology company, says Ginkgo does not have expertise in large-scale production, and he thinks Kelly is paranoid that betting on products equates to difficulty and failure. Amyris itself almost collapsed after it failed in a plan to sell biofuels for transportation but is staging a turnaround by manufacturing and selling beauty ingredients and flavors. 617.674.5100, 2022 Massachusetts Biopharma Funding Report, 2022 MALife Sciences Workforce Analysis Report, 2021 State of Diversity, Equity, & Inclusion Report. Kelly has compared Ginkgo to all three. Irish MIT Student Co-Founded Billion-Dollar Ginkgo Bioworks - Forbes (617) 872-3499. So cool to see @growbyginkgo in the wild! Instead, we work at the bleeding edge of synthetic biology technology. Actually, Ginkgo does have a product: The company publishes and prints its own magazine, Ginkgo was founded in 2008 by four MIT alumni and senior research scientist Tom Knight, and it is headquartered in the Seaport District.