Synthetic Biology Series Part II: How Traditional Chemical Giants Are Accelerating the Field

The reason industry giants have become dominant players largely lies in their ability to respond swiftly to subtle market shifts. Before synthetic biology became a major trend, several chemical industry giants had already turned their attention to this emerging field and taken relevant actions, with some of these moves even predating the emergence of current startups.

In terms of synthetic biology strategy, several well-known chemical giants—including DuPont, BASF, LG Chem of South Korea, and DSM of the Netherlands—have already made significant moves. For instance, DuPont spent over $6.3 billion to acquire Danisco, a Danish producer of food ingredients and industrial enzymes; BASF acquired Isobionics, a biotechnology company specializing in natural flavors and fragrances, and entered into a cooperation agreement with Conagen, a company focused on fermentation-based fragrance ingredients. The investment in ENOBIOTECH represents BASF’s further strategic expansion in the field of industrial biotechnology.

Chemical Synthesis and Biosynthesis:

One is to comprehend the myriad transformations of nature, creating by leveraging an understanding of the “temperaments” of various elements in the periodic table;

One is to decipher the code within genetic sequences, aiming to accurately infer the "characteristics" of various microorganisms for rational design;

The difference lies in the way they “create” the desired product;

What they have in common is that they are all explorers and builders, driven by a desire to find the most efficient way to produce their target products.

What Surprises Will the “Interweaving” of Traditional Chemistry and Synthetic Biology Bring to the Industry?？

When Chemical Giants “Join Hands” with Synthetic Biology Startups: What Does a Win-Win Look Like?？

VCBeat New Medicine and VCBeat Orange Bureau, in partnership with Matrix Partners China, have invited Cheryl Cui, Co-founder and CEO of Bota Bio; Zhiyun Yu, Partner at Matrix Partners China; and Mingyu Xue, Vice President of Investment at Matrix Partners China, to jointly explore the integration and collision between traditional chemical giants and synthetic biology startups.

Cheryl Cui, Co-founder and CEO of Enhe Biologics

Ph.D. in Medical Engineering and Medical Physics from the Massachusetts Institute of Technology and Harvard Medical School. His research on constructing synthetic gene circuits and molecular systems has resulted in multiple publications as first or contributing author in prestigious academic journals such as Science, Nature Nanotechnology, and PNAS, with several patents granted for his research achievements. He was named to Forbes’ “30 Under 30” in healthcare in 2019 and selected for MIT Technology Review’s “Innovators Under 35” in 2020.

Yu Zhiyun, Partner at Matrix Partners China

Focuses on investment opportunities in the healthcare sector, including new drugs, in vitro diagnostics, medical devices, and healthcare services. Previously conducted research in bioinformatics and structure-based drug design at Yale University and Columbia University, respectively. Investment portfolio includes Peijia Medical, RemeGen, Kemei Diagnostics, Innovent Biologics (Yifang), Huahao Zhongtian, Genetron Health, iDermis, and New Vision Medical.

Xue Mingyu, Vice President of Investment at Matrix Partners China

Ph.D. in Chemistry and Chemical Biology from Harvard University. Joined Matrix Partners China in 2020. Previously served as Associate Director of Global Business Development and Licensing at the French pharmaceutical company Sanofi, and as a Senior Consultant in strategic consulting at Bain & Company.

Enhe Biotech is a biotechnology company founded on the principles of synthetic biology. By building a standardized, automated, high-throughput experimental platform and integrating machine learning and artificial intelligence, the company systematically engineers organisms to develop efficient, green, low-cost industrial biotechnologies suitable for large-scale production. It provides key technological solutions for various industries, including chemicals, food, agriculture, and pharmaceuticals. The company’s core technology and management teams hail from prestigious institutions such as MIT and Harvard University, as well as foundational companies in the field of synthetic biology, including Amyris, Ginkgo Bioworks, Zymergen, and Codexis. In 2020, Enhe Biotech was successfully selected as one of the “50 Smartest Companies” by MIT Technology Review, and in 2021, it was included in the “10 Startups to Watch in 2021” list published by C&EN, the American Chemical Society’s magazine.

Matrix Partners China was founded in 2008 and manages over RMB 50 billion. As a leading venture capital firm in the industry, it has long focused on early-stage and early-growth investments, specializing in sectors such as new technologies, hard tech, industrial digitalization, healthcare, frontier technologies, and new consumption. To date, it has invested in more than 700 companies, including XPeng Motors, Li Auto, Futu Holdings, Chehaoduo Group, Ele.me, Youzan, Ronbay Technology, XGIMI, Momo, PingCAP, Peijia Medical, Career International, Kym Biosystems, Beisen, LexinFintech, Zi Hai Guo, Chuanzhi Education, MetaX, Simple Love, SemiDrive Technology, MegaRobots,芯耀辉 (Xinyao Hui), Xinhuazhang, Enhe Bio, and iDNA Biotechnology.

VCBeat’s media and research platform dedicated to biomedicine empowers innovators and entrepreneurs to communicate their value through both content and operations. In terms of content, it primarily features coverage of companies in frontier fields, investment and financing updates, R&D progress, reviews of outstanding domestic and international case studies, and industry reports on specialized sectors. On the operational front, through branded initiatives such as “VB Think Tank” and “VB Think Tank – Report Premieres,” it focuses on practical challenges, discusses industry trends, and fosters tangible collaborations through the exchange of ideas.

VCBeat’s specialized platform dedicated to innovation and commercialization in the healthcare sector. Guided by exploration, insight, and service, we deeply connect every stakeholder across the innovation value chain, continuously unlocking their innovative potential. Centered on addressing real-world needs, we genuinely support the growth of scientists, ensure that each link in the ecosystem receives commensurate returns for their efforts, and facilitate the successful implementation of more high-value medical innovation projects in China.

One of VCBeat’s flagship events, this face-to-face platform centers on exploring solutions in the pharmaceutical and healthcare sectors, with the mission to “focus on practical challenges and discuss industry trends.” The event delves into the current state of development around core themes, conducting in-depth discussions, analyses, and exchanges on the difficulties, pain points, and obstacles encountered. Meanwhile, it gains a deep understanding of the resource endowments of various enterprises, fostering practical collaborations through intellectual exchange. “Each edition features one theme, one vehicle, and one ecosystem.”