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Ginkgo Bioworks

Ginkgo Bioworks

Ginkgo Bioworks is a biotechnology company using machine learning techniques and lab automation to engineer microorganisms as a service.

Ginkgo Bioworks was founded in 2009 by scientists at MIT and is located in Boston, Massachusetts. Ginkgo was co-founded by Tom Knight, synthetic biologist and former computer science research scientist at MIT, Harvard geneticist George Church, biotechnologist Craig Venter, and four MIT biological engineering graduate students, including Ginkgo’s CEO Jason Kelly. Ginkgo Bioworks is an analytics company that designs organisms for customers in a range of industries. It is the self-proclaimed "Organism Company".

Ginkgo Bioworks designs microbes in analytical labs it calls synthetic biology foundries, which comprise software and hardware tools that allow for rapid prototyping and high-throughput screening. Several publicly-stated products include chemical intermediates, flavors, and fragrances, as well as microbes that provide health benefits to the human gut microbiome and agricultural crop root microbiomes.

Gingko uses automation to make genetic changes that produce organisms with useful properties. The company uses Python code to pull out sequences that might produce a gene to make a desired product. Robots are used to print out and assemble the DNA and insert them into bacteria or yeast. The bacteria and yeast strains are tested for fitness, efficiency, and yield. Data from this process is captured and used to build design principles to make future engineering of organisms more efficient. With automated robots, one Ginkgo operator can perform around 1000 DNA extractions in a day, compared with about 24 by one graduate student.

Products and services

Ginkgo Bioworks specializes in creating tools for improving cultured ingredients, high-throughput strain improvement, and enzymes design. Cultured ingredients are made by yeast fermentation, and the yeast can be made to produce compounds for use as flavors, fragrances, food ingredients, cosmetics, and more.

High-throughput strain improvement is the next step after figuring out how to make cultured ingredients. Strain improvement seeks to increase efficiency, reduce cost, and improve the sustainability of products made by custom organisms. Enzyme design looks for ways to either use existing enzymes for other purposes, or looks for ways the make enzymes do their job better. Enzymes act as catalysts that speed up biochemical reactions. Examples of the industrial use of enzymes include cheesemaking, pharmaceutical production, and clothing manufacturing.

Synthetic biology foundries
BioworksS1

BioworksS1 was the world's first organism foundry capable of complete automation of organism strain engineering. The foundry can perform up to 15,000 automated lab tasks per month allowing genetic engineers at Ginkgo Bioworks to test thousands of new organism designs every month without the need to perform the majority of repetitive lab work.

Bioworks2

Bioworks2 is an upgraded version of BIOWORKS1 that is twice as big. It provides a 6X productivity improvement on the original BioworksS1 foundry through more efficient integration and miniaturization of equipment.

Bioworks3

Bioworks3 opened in 2017 as a foundry for prototyping and scaling engineered organisms. The expansion was supported by their Series D round of funding. Bioworks3 expects to accelerate the scaling of existing projects and support it agricultural products through its partnership with Bayer.

Bioworks4

Ginkgo opened its Bioworks 4 foundry for engineered mammalian cells in 2018. Their mouse, hamster and human cells can be used to make biomolecules such as antibodies and proteins. The company also prepares cells that will be used as the drug, such as in the case for cancer immunotherapies. The company plans to enable small biotech startups to investigate leads without incurring large costs, and even operate lab-free, similar to how tech companies rely on cloud than building their own server farm.

Funding

In its early years, the company was supported primarily through governments grants. Working on a variety of projects with different government agencies, such as the national science foundation and Defense Advanced Research Projects Agency (DARPA), before gaining access to venture capital funding in the summer of 2014.

Government awards/grants

Award/ Grant
Funding Agency
Value
Year

Department of Health and Human Services

$150,000

2013

Defense Advanced Research Projects Agency (DARPA), Department of Defense

$150,000

2012

Defense Advanced Research Projects Agency (DARPA), Department of Defense

$1,750,000

2014

National Science Foundation

$150,000

2013

Seed

On July 16th, 2014 Ginkgo Bioworks received $120K in seed funding from Y Combinator, TSVC, CRCM ventures, 11.2 Capital, Farzad Nazem, Todd Corenson, and David Spector.

Series A

On March 19th, 2015 Ginkgo Bioworks received $9 million dollars in funding from iGlobe Partners, Vast Ventures, OS Fund, Felicis Ventures, Data Collective, Ian McNish, and David Beyer.

Series B

Ginkgo Bioworks had a pre-money evaluation of $250 million and raised $45 million on July 23rd, 2015 during their series B funding. Investors include: Viking Global Investors, OS Fund, Felicis Ventures, and 11.2 Capital.

Series C

Ginkgo Bioworks had pre-money evaluation of $350 million before receiving $100 million in its series C funding round on June 8th, 2016. The funding came from a number of old and new investors including: Y Combinator, Viking Global Investors, Senator Investment Group, Baillie Gifford, and Allen & Company.

Series D

On December 14th, 2017 Ginkgo Bioworks completed its series D funding round. The company had a pre-money valuation of $725 million and gained an additional $275 million dollars in venture capital. The $275 million came from Viking Global Investors, Y Combinator's Continuity Fund, Cascade Investment, and Bill Gates. Ginkgo Bioworks is using the series D funding to build a BioworksS3 at its headquarters in Boston and hire an additional employees.

Partnerships
Amyris

On June 29th, 2016 Ginkgo Bioworks and Amyris entered into a collaboration agreement and announced their intention to partner to commercialize up to 70 cultured ingredients. The partnership was entered into in November 2017. Ginkgo Bioworks agreed to pay up to $20 million in technology access fees to Amyris. It paid $15 million upfront in 2016, but disputes resulted in the final $5 million never being paid. The pair continue to collaborate on "limited research and development", although Amyris hasn't recorded revenue from Gingko Bioworks since the initial upfront payment in 2016.

All of the founders of Ginkgo Bioworks created an affiliate, Stegodon Corporation, to provide and assume certain debt notes to Amyris while keeping the debt off Ginkgo Bioworks' books. Amyris' failure to pay debts at certain maturity dates has resulted in Stegodon Corporation receiving certain patents from the company as collateral, several of which it has paid to upkeep with the U.S. Patent and Trademark Office, proving that Stegodon Corporation is actively managed. Ginkgo Bioworks hasn't commented publicly on the existence of Stegodon Corporation or the affiliate's purpose. On June 29th, 2018, Amyris secured a $35 million loan to repay all amounts owed to Stegodon Corporation.

Archer Daniels Midland Company (ADM)

On September 23rd, 2016, Ginkgo Bioworks announced a partnership with Archer Daniels Midland Company (ADM) to design organisms capable of producing cultured ingredients for use in agricultural processing and food ingredient industries. ADM hopes to help Ginkgo Bioworks create new organisms that reduce cost and increase the sustainability of their agricultural processing and food ingredient business. ADM plans on using Ginkgo Bioworks for solving problems faced by its customers through providing novel ingredient production and formulation processes.

Bayer

On March 20th, 2018, Ginkgo Bioworks announced it had finalized a previously-announced joint venture with the agriscience business of Bayer, which will be called Joyn Bio. The joint venture will focus on designing soil microbes to improve the root system microbiomes of agricultural crops, specifically providing nitrogen fixation to reduce the need for synthetic fertilizer applications. Joyn Bio is similar to the $600 million joint venture between Monsanto and Novozymes called the BioAg Alliance, which commercialized its first products in December 2016 after conducting years of field testing. Monsanto is now a part of Bayer.

Cargill

On September 22nd, 2016, Ginkgo Bioworks announced a partnership with Cargill to improve industrial fermentation processes.

Cronos Group

In 2019 Ginkgo entered a $100 million partnership with Cronos Group, the leading Canadian cannabis company. The partnership is for the economically sustainable production of cultured cannabinoids.

Genomatica

On September 29th, 2016, Ginko Bioworks announced a partnership with Genomatica. The companies will be focusing on scaling and commercializing the intermediate and speciality chemical production of organisms made by Ginkgo Bioworks. Genomatica designs and improves industrial process of bio-manufacturing by creating economic and technical solutions to problems faced within the bio-manufacturing industry. The goal of this partnership is for both companies to work together create a unified offer for the market that provides organism design and high volume manufacturing capacity.

Prospect Bio

On October 19th, 2016, Ginkgo Bioworks announced a partnership with Prospect Bio to create a new biosensor to improve the speed and lower the cost of organism prototyping for new strain development. The biosensor under development will make the process of organism screening (testing for a desired trait) faster. Organism screening is one of the slowest processes of the design, build, test system Ginkgo Bioworks uses for organism development. Normally, each organism created by Ginkgo Bioworks has to be screened individually. A biosensor allows for the screening of many organisms at one time. Ginkgo Bioworks is hoping for a forty-fold decrease in the cost of screening and increase the speed of creating commercial ready organisms.

Synlogic

On December 8th, 2017, Ginkgo Bioworks and Synlogic announced a collaboration to engineer microbes for probiotic and gut-microbiome-based medicines.

Mergers/acquisitions
Gen9

On January 20th, 2017 Ginkgo Bioworks announced that it had acquired Gen9 — a company specializing in DNA synthesis. Ginkgo Bioworks previously contracted Gen9 to deliver 300 million base pairs in 2017, making Ginkgo Bioworks Gen9's biggest customer prior to the acquisition.

Ginkgo Bioworks CEO Jason Kelly said of acquiring Gen9:

"Our mission is to make biology easier to engineer and through that to enable our customers to grow better products. Having Gen9’s synthesis and assembly technology available to our customers is a valuable addition to our foundries, allowing us to further speed up the process of organism design".
Spinouts
Motif Ingredients

Motif ingredients is a food ingredients company spun out of Ginkgo which supplies ingredients that can be customized to mimic flavors or textures of those found in protein products such as beef and dairy and is aimed at the plant-based food business.

Company Patents

Patent description
Inventor
Status
Date
App/pub number

Joseph Jacobson

Application

2018-02-01

WO2018022972A1

Patrick Boyle, Reshma P. Shetty

Application

2015-10-01

WO2015148680A1

Jeffrey C. Way, Joseph H. Davis

Application

2012-03-22

US20120070870A1

Reshma Shetty, Thomas F. Knight Jr., Randall D. Rettberg

Grant

2016-11-29

US9506167B2

Curt R. Fischer, Austin J. Che, Reshma P. Shetty, Jason R. Kelly

Grant

2013-01-08

US8349587B2

Li-yun A. Kung, Daniel Schindler, Joseph Jacobson

Grant

2017-09-05

US9752176B2

Andrew V. Oleinikov

Application

2017-08-24

US20170240886A1

Timeline

May 14, 2021
Ginkgo lands on NYSE via SPAC merger, gaining $2.5B to fuel growth
April 12, 2021
NxGen MDx Partners with Ginkgo Bioworks to Scale COVID Response through Pooled Testing in K-12 Schools.

November 20, 2020
Ginkgo Bioworks announces it has secured access to at least 10 million rapid antigen test kits from Access Bio, a global in vitro diagnostics company.

May 28, 2020
Ginkgo Bioworks raises a $70,000,000 series F round from General Atlantic, Illumina and Viking Global Investors.
October 9, 2019
Ginkgo Bioworks raises a $350 million fund to invest in spinout ventures that use its bio-engineering technology.
September 16, 2019
YC and Ginkgo Bioworks announce new partnership for synthetic biology startups

Ginkgo Bioworks will offer to program cells for YC companies in exchange for equity.

September 2019
Ginkgo Bioworks raises a $290,000,000 series E round from T. Rowe Price.
November 1, 2018
Ginkgo bioworks reconstructs scent from the extinct plant, Hawaiian mountain hibiscus.

Ginkgo’s team used dried specimens of Hibiscadelphus wilderianus from the Harvard University Herbaria. Working with University of California, Santa Cruz, paleogenomicist, Beth Shapiro, they isolated and decoded the ancient DNA and used it to reconstruct ancestral enzymes to produce terpene molecules in yeast. Olfactory artist Sissel Tolaas mixed and matched the odor molecules into pleasant-smelling arrangements.

October 24, 2018
Ginkgo opened its Bioworks 4 foundry for engineered mammalian cells.
March 29, 2018
BIOWORKS2

An upgraded version of BIOWORKS1 that is twice as big, and offers a 6X productivity improvement compared to BioworksS1 through better integration and miniaturization of equipment.

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Funding rounds

People

Name
Role
LinkedIn

Austin Che

Founder

Barry Canton

Founder

Benjie Chen

Employee

Farzad Nazem

Investor

Jason Kakoyiannis

Employee

Jason Kelly

Founder, CEO

Jonathan Downey

Investor

Jude Gomila

Advisor, Investor

Ken Arnold

Investor

Reshma Shetty

Founder

Tom Knight

Founder

Further reading

Title
Author
Link
Type
Date

Bayer And Ginkgo Bioworks, A Startup, Aim To Make Crops Produce Their Own Nitrogen Fertilizer

Susan Adams

Can This Company Convince You to Love GMOs?

Sarah Zhang

Case study on Ginkgo Bioworks

Axial

Web

April 17, 2020

Five hard truths for synthetic biology

Roberta Kwok

Academic paper

Ginkgo Bioworks Pulls In $275M as Synthetic Biology Funding Soars

Jeff Engel

Ginkgo Bioworks secures $275 million in Series D, valuing the company at over $1 billion

Sarah Buhr

Move Over, Jony Ive — Biologists Are The Next Rock Star Designers

Elizabeth Stinson

Synthetic biology called to order: meeting launches effort to develop standards for fast-moving field

Erika Check Hayden

Academic paper

With designer bacteria, crops could one day fertilize themselves

Megan Molteni

Documentaries, videos and podcasts

Title
Date
Link

"Biology by Design: Engineering organisms" by Patrick Boyle: Ginko Bioworks at NCC 2016

December 14, 2016

Changing Gene Synthesis: Gen9 and Ginkgo Bioworks Partnership

November 16th, 2016

Companies

Company
CEO
Location
Products/Services

Ginkgo Bioworks

Rapid Organism Prototyping

Ginkgo Bioworks

Rose Oil From Yeast

News

Title
Author
Date
Publisher
Description
Ginkgo Bioworks
June 9, 2021
www.prnewswire.com:443
/PRNewswire/ -- Today, Ginkgo Bioworks, Inc. ("Ginkgo"), which recently announced a business combination with Soaring Eagle Acquisition Corp., announced a...
Lydia Ramsey Pflanzer
June 4, 2021
Business Insider
These are Insider's biggest healthcare stories for the week ending June 4.
Lydia Ramsey Pflanzer
June 3, 2021
Business Insider
These are Insider's biggest healthcare stories for June 3.
Allison DeAngelis
June 2, 2021
Business Insider
Ginkgo is going public via a SPAC at a $15 billion valuation. But it's pitching investors revenue growth beyond other synthetic-biology companies.
FinSMEs
May 23, 2021
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Monteverde & Associates PC
May 22, 2021
www.prnewswire.com:443
/PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018-2020 ISS...
Mark Terry
May 21, 2021
BioSpace
Less than two weeks after Ginkgo Bioworks announced a merger with SPAC Soaring Eagle Acquisition Corp., it announced a collaboration partnership with Biogen.
BioSpace
May 21, 2021
BioSpace
Collaboration aims to develop a next-generation AAV production platform to help accelerate Biogen's efforts to bring novel gene therapies to patients worldwide Ginkgo's synthetic biology expertise may enable the expansion of therapeutic utility and overcome development challenges of viral vectors for gene therapy Ginkgo to receive $5 million upfront payment and is eligible for up to $115 million in potential research, development, and commercial milestones
Amirah Al Idrus
May 17, 2021
FierceBiotech
Barely a week after striking a $2.5 billion SPAC deal to go public, Ginkgo Bioworks is going international. In its first move to extend its operations beyond the U.S., the synthetic biology player is acquiring Dutch DNA Biotech, a contract manufacturing organization that makes enzymes, proteins and organic acids using its fungus-based technology.
Nick Paul
May 14, 2021
FierceBiotech
Ginkgo Bioworks is set to go public through a $2.5 billion merger with a special purpose acquisition company (SPAC). The deal, which involves Arie Belldegrun and sets the company's pre-money valuation at $15 billion, will generate proceeds to support Ginkgo's efforts to engineer cells to enable new product development.
FinSMEs
May 11, 2021
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Mark Terry
May 11, 2021
BioSpace
Biotechnology firm Ginkgo Bioworks is going public via a merger with Soaring Eagle Acquisition Corp.
Nick Paul
May 11, 2021
FierceBiotech
Ginkgo Bioworks is set to go public through a $17.5 billion merger with a special purpose acquisition company (SPAC). The deal, which involves Arie Belldegrun, will generate $2.5 billion of gross cash proceeds to support Ginkgo's efforts to engineer cells to enable new product development.
April 22, 2021
BioSpace
Dylan George joins Ginkgo Bioworks to grow the company's global biosecurity efforts - read this article along with other careers information, tips and advice on BioSpace
Ginkgo Bioworks
April 22, 2021
www.prnewswire.com:443
/PRNewswire/ -- Ginkgo Bioworks ("Ginkgo"), the organism company, today announced Dylan George will join Concentric by Ginkgo, the company's public health and...
April 12, 2021
BioSpace
NxGen MDx Announces Partnership with Ginkgo Bioworks to Scale COVID Response through Pooled Testing in K-12 Schools - read this article along with other careers information, tips and advice on BioSpace
April 12, 2021
BioSpace
NxGen MDx Announces Partnership with Ginkgo Bioworks to Scale COVID Response through Pooled Testing in K-12 Schools - read this article along with other careers information, tips and advice on BioSpace
NxGen MDx
April 12, 2021
www.prnewswire.com:443
/PRNewswire/ -- Today, NxGen MDx announced a partnership with Concentric by Ginkgo to provide COVID-19 testing to congregate settings such as schools operating...
April 9, 2021
BioSpace
Rapid Dx Laboratory Announces Partnership with Ginkgo Bioworks to Scale COVID Response through Pooled Testing in K-12 Schools - read this article along with other careers information, tips and advice on BioSpace
RapidDx Laboratory, LLC
April 9, 2021
www.prnewswire.com:443
/PRNewswire/ -- Today, Rapid Dx Labs announced its partnership with Concentric by Ginkgo. Together, Rapid Dx Labs and Concentric by Ginkgo will provide pooled...
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References

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