“We believe Ginkgo has the best compiler and debugger for writing genetic code and we use it to program cells for customers in a range of industries.”
US biotechnology company Ginkgo Bioworks has raised $290 million in Series E financing and plans to use the funds to help expand its synthetic biology applications for its cell programming platform.
The $290m financing brings Ginkgo’s total capital raised to $719m.
Funds and accounts advised by T. Rowe Price Associates joined all existing investors in the latest round, the first since December 2017 when Ginkgo raised $275m in Series D financing to complete its third “foundry” or production facility. The company opened its fourth foundry last year, and is now completing its fifth.
According to Gingko @Ginkgo, this latest funding will help to propel company’s platform and enable its team of experienced organis engineers to unlock the full potential of biological engineering and deliver transformative technologies with far-reaching impact.z
In the past two years, Ginkgo has grown through large partnerships across major industries, including a $122m deal to produce cultured cannabinoids with Cronos, a partnership with Roche for up to $160m to discover novel antibiotics, and an $80m investment in Synlogic to accelerate the development of living medicines.
Last year, Ginkgo also launched its second spinout company, Motif Foodworks, with $117m in funding, to address the need for better alternative proteins; this followed the launch of Joyn Bio in 2017 to bring more sustainable practices to the agriculture industry.
Most recently, Ginkgo established itself as a home for early-stage start-ups and entrepreneurs to build their biotech businesses. Through two new partnerships with Y Combinator and Petri, start-ups can access Ginkgo’s platform and mentorship in exchange for equity. With access to Ginkgo, start-ups will now have a pathway to bring bold, world-changing ideas to fruition.
“Cells are programmable similar to computers because they run on digital code in the form of DNA,” said Jason Kelly, CEO and co-founder of Ginkgo Bioworks.
Kelly added: “We believe Ginkgo has the best compiler and debugger for writing genetic code and we use it to program cells for customers in a range of industries. Today’s fundraise will allow us to expand our technology and continue our drive to bring biology into every physical goods industry – materials, clothing, electronics, food, pharmaceuticals, and more. They are all biotech industries but just don’t know it yet.”