Ginkgo Bioworks Secures $290 Million Series E Funding to Expand Cell Programming Platform

On September 25, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Ginkgo Bioworks announced the completion of a $290 million Series E financing round. Investors in this round included T. Rowe Price, Cascade Investment, Viking Global Investors, General Atlantic, and Y Combinator.

Ginkgo Bioworks will use the funds from this financing round to further expand its cell programming platform, extending its reach into multiple industry sectors including nutritional supplements, health foods, and pharmaceuticals. The company’s experienced technical team will continue to unlock the potential of bioengineering, providing innovative technologies to the pharmaceutical industry.

It is reported that Ginkgo Bioworks has completed seven rounds of financing, raising a total of $719 million. Among these, the company closed its $100 million Series C round in June 2016 and its $275 million Series D round in December 2017.

Ginkgo Bioworks, founded in 2009 and headquartered in Boston, Massachusetts, USA, is a biotechnology and pharmaceutical company. The company was established by Professor Tom Knight, an expert in synthetic biology at the Massachusetts Institute of Technology (MIT), along with several graduate students. Currently, Ginkgo Bioworks is dedicated to developing cell programming technologies to advance the field of synthetic biology.

Unlike genetic engineering, which focuses on researching, modifying, and transferring genes across species, Synthetic Biology aims to construct artificial biological systems (Artificial Biosystems). In recent years, rapid advancements in computing, bioinformatics, gene synthesis, and gene sequencing have made computer-aided design and the artificial synthesis of entire genes and even genomes possible, thereby driving the industrialization and modernization of bioengineering.

Ginkgo Bioworks primarily leverages its advanced technology platform to develop nutritional supplements, health foods, flavors, probiotics, cosmetic ingredients, and active pharmaceutical ingredients, thereby introducing biotechnology into the consumer goods market. Additionally, Ginkgo Bioworks collaborates with industry peers to design and develop gut-based live biotherapeutic products for the treatment of liver diseases and neurological disorders.

Over the past two years, Ginkgo Bioworks has primarily collaborated with large biopharmaceutical companies to expand its business into the therapeutic sector. The company entered into a commercial partnership worth up to $160 million with Swiss pharmaceutical giant Roche to jointly develop novel antibiotics. Last year, Ginkgo Bioworks launched its second spin-off, Motif Foodworks, valued at $117 million, to meet market demand for alternative proteins.

In addition, Ginkgo Bioworks has established partnerships with investment firms such as Y Combinator and T. Rowe Price to provide financial support to biotechnology startups. This June, Ginkgo Bioworks provided $80 million in financing to the biotechnology company Synlogic Therapeutics to accelerate the development of the biopharmaceutical industry.

Jason Kelly, CEO and Co-founder of Ginkgo Bioworks, stated, “Cells contain DNA in the form of code, which can be programmed just like computers. Ginkgo Bioworks boasts the best genetic code compilers and debuggers, enabling us to provide engineered cells for a wide range of industries. This financing will help us develop advanced technologies to bring biotechnology into consumer sectors such as materials, apparel, electronics, food, and pharmaceuticals.”

Jason Kelly added, “Therapeutics remains a significant area of growth for us. In the future, Ginkgo Bioworks will focus more on fields such as genetic engineering and CAR-T cancer therapy, programming and engineering both bacterial and mammalian cells.”

T. Rowe Price Group was founded in 1937 and is headquartered in Maryland, USA. It is a global asset management company that provides capital support, advisory services, and account management to individuals, corporations, and financial institutions, with assets under management exceeding $900 billion. T. Rowe Price Group is currently listed on the NASDAQ Stock Exchange.

Cascade Investment, founded in 1995 and headquartered in Washington State, USA, is an investment firm owned by Bill Gates. The company primarily invests in various sectors, including automotive, tourism, life sciences, and public utilities.

Viking Global Investors, established in 1999 and headquartered in Connecticut, USA, is a private equity firm. The company manages over $2 billion in capital and maintains offices in Greenwich (UK), London, New York (USA), and Hong Kong (China).

General Atlantic, founded in 1980 and headquartered in New York, USA, is a private equity firm that primarily provides capital support to growth-stage companies.

Y Combinator, founded in 2005 and headquartered in California, USA, is a venture capital firm. Hailed as the “Silicon Valley Incubator,” it provides funding and business advisory services to numerous startups.

(Compiled by Xu Xiaoxue)