BOSTON and BASEL, Switzerland, March 14, 2022 /PRNewswire/ — Ginkgo Bioworks (NYSE: DNA), the leading horizontal cell programming platform, today announced that it has entered into a definitive agreement to acquire FGen AG (“FGen”), a Swiss-based company specializing in the development and optimization of strains. FGen has developed an ultra-high throughput (uHT) screening platform based on nanoliter reactor technology. Ginkgo believes that FGen’s technology will significantly enhance Ginkgo’s cell screening capabilities and allow Ginkgo to explore larger expanses of genetic opportunities, increasing the likelihood of finding enzymes, pathways and strains or cell lines. which operate under various product specifications.
Ginkgo and FGen expect to close the transaction soon. Post-closing, Ginkgo expects that the integration of the FGen platform can significantly increase the capability of Ginkgo’s Design-Build-Test-Learn strain development engine, a foundation of Ginkgo’s technology stack. By adding FGen’s uHT screening platform to its existing HT screening systems, Ginkgo seeks to be able to routinely analyze the performance of millions of genetic prototypes in a pooled format, thereby improving the quality of candidate results that feed downstream workflows for strain characterization and validation. FGen’s platform is extremely flexible for all target organizations, pathways and products. The platform can be deployed to screen for both intracellular and secreted target products as well as small molecules and proteins. It can also host various organisms including bacteria, yeasts, filamentous species and mammalian cells.
“Ginkgo is committed to investing in creating the first cellular programming platform by integrating best-in-class tools from around the world and deploying them widely across our programs,” said Township of Barry, co-founder and chief technology officer of Ginkgo. “We have worked with the FGen team for several years and believe that their world-class technology and scientists will further enhance our ability to explore an exponentially wider design space and deliver more value to our customers.”
“Our team has spent the past decade building one of the world’s most advanced screening platforms in hopes of enabling breakthrough discoveries and products across all industries,” said Andreas Meyer, CEO of FGen. “We are thrilled to be welcomed onto the Ginkgo platform where we can deploy this technology much more widely and better support customers and their world-changing work.”
Under the terms of the transaction, FGen will receive an upfront payment and additional contingent consideration related to, among other things, the successful integration and deployment of FGen technology into Ginkgo programs.
About Ginkgo Bioworks
Ginkgo is building a platform to allow customers to program cells as easily as we can program computers. The Company’s platform enables biotechnology applications in various markets, from food and agriculture to industrial chemicals and pharmaceuticals. Ginkgo has also actively supported a number of COVID-19 response efforts, including K-12 pooled testing, vaccine manufacturing optimization, and therapy discovery. For more information, visit www.ginkgobioworks.com.
About FGen AG
FGen is a Swiss start-up founded in 2011 in Basel, Switzerland as a spin-off from the Department of Biosystems Science and Engineering at ETH Zurich. As a contract research organization, we collaborate with partners in biotechnology, life sciences, food and pharmaceuticals to develop microbes, cells, chemicals and proteins for various apps. For more information, visit www.fgen.ch.
Ginkgo Bioworks Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding its expectations regarding the prompt closing of the transaction, the potential success of the acquisition and Ginkgo’s cellular programming platform. These forward-looking statements are generally identified by the words “believe”, “project”, “potential”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future “, “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will,” “will,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from forward-looking statements contained herein, including, but not limited to: (i) the effect of the business combination with Soaring Eagle Acquisition Corp. (“Soaring Eagle”) on Ginkgo’s business, relationships, performance and business in general, (ii) risks whether the business combination disrupts Ginkgo’s current plans and potential difficulties in retaining Ginkgo’s employees, (iii) the outcome of any legal proceedings that may be brought against Ginkgo related to its business combination with Soaring Eagle , (iv) volatility in the price of Ginkgo’s securities now that it is a public company due to various factors, including changes in the competitive and highly regulated industries in which Ginkgo plans to operate, variations in performance between competitors, changes in laws and regulations affecting Ginkgo’s business and changes in the combined capital structure, (v) the ability to implement plans, forecasts and other expectations after completion of the business combination, and identifying and realizing additional opportunities, and (vi) the risk of reduced demand for products using synthetic biology. ic. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Ginkgo’s Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission (the “SEC”). ) the November 15, 2021 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and Ginkgo undertakes no obligation and does not intend to update or revise such forward-looking statements, whether as a result of new information, future events or otherwise. Ginkgo gives no assurance that it will meet its expectations.
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