BOSTON, May 8, 2023 /PRNewswire/ -- Ginkgo Bioworks (NYSE: DNA), which is building the leading platform for cell programming and biosecurity, today announced a new partnership with Boehringer Ingelheim. The two companies will leverage Ginkgo's natural product discovery capabilities to accelerate the discovery and development of novel therapeutic molecules to address diseases with high unmet patient needs that are out of reach of conventional drug discovery.
Hundreds of millions of people are living with diseases that to date cannot be cured or are inadequately treated. Breaking through this inertia requires, in many cases, the use of new techniques to act on molecular targets which are exceedingly difficult to address with traditional approaches. More than half of all targets predicted to be involved in human disease are as of yet considered "undruggable" for this reason.
Ginkgo and Boehringer Ingelheim will collaborate to mine Ginkgo's metagenomic sequence database, which provides access to a vast reservoir of structurally novel bioactive molecules, potentially enabling the rapid identification of lead molecules as starting points for the potential discovery of novel treatments to transform patients' lives.
"Ginkgo is well-positioned to help partners like Boehringer Ingelheim complement their drug discovery efforts particularly when it comes to natural product discovery," said Jason Kelly, CEO and co-founder at Ginkgo Bioworks. "We are thrilled to work with Boehringer Ingelheim leveraging our Foundry and Codebase to unlock new possibilities in biopharma innovation."
Ginkgo has built one of the broadest and deepest metagenomics databases worldwide, aided by its recent acquisition of Zymergen. The database comprises over three terabases of sequence data and over two billion proprietary protein sequences from a variety of microbes, creating a unique foundation for the discovery of novel therapeutic molecules.
Under the terms of the partnership Ginkgo will receive upfront research fees and is eligible to receive success-based research and development, regulatory, and commercial milestone payments for a specified number of projects up to an aggregate total of $406 million. Ginkgo is also entitled to potential further downstream value in the form of royalties on sales.
About Ginkgo Bioworks
Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo's biosecurity and public health unit, Concentric by Ginkgo, is building global infrastructure for biosecurity to empower governments, communities, and public health leaders to prevent, detect and respond to a wide variety of biological threats. For more information, visit ginkgobioworks.com and concentricbyginkgo.com, read our blog, or follow us on social media channels such as Twitter (@Ginkgo and @ConcentricByGBW), Instagram (@GinkgoBioworks and @ConcentricByGinkgo), or LinkedIn.
Forward-Looking Statements of Ginkgo Bioworks
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the capabilities and potential success of the partnership and Ginkgo's cell programming platform. These forward-looking statements generally are identified by the words "believe," "can," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "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, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) volatility in the price of Ginkgo's securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting Ginkgo's business, (ii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, (iii) the risk of downturns in demand for products using synthetic biology, (iv) the unpredictability of the duration of the COVID-19 pandemic and the demand for COVID-19 testing and the commercial viability of our COVID-19 testing business, (v) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vi) our ability to realize the expected benefits of merger and acquisition transactions, (vii) the outcome of any legal proceedings against Ginkgo, including as a result of recent acquisitions, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, and (x) the product development or commercialization success of our customer. 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 annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on March 13, 2023 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 put undue reliance on forward-looking statements, and Ginkgo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations.
GINKGO BIOWORKS INVESTOR CONTACT:
investors@ginkgobioworks.com
GINKGO BIOWORKS MEDIA CONTACT:
press@ginkgobioworks.com
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