Boston-based synthetic biology company, Ginkgo Bioworks is planning to accelerate its biotech efforts across a range of industries spanning pharmaceuticals, food, electronics, and clothing.
Through biological engineering, Ginkgo designs special custom organisms with the capacity to create products that will transform the future of industries. And their initiative has garnered the company unicorn status.
Just last week, Ginkgo announced the Series E financing round totaling $290 million, bringing their total funding of the company to $719 million. This additional funding will be dedicated to aid the company’s cell programming platform.
Synthetic biology, an emerging area of science that takes engineering principles and applies them to biology, aims to not only design and even redesign biological structures but also construct them. This field of science has experienced a massive boom over the last few years. A total of 65 synthetic biology companies received $1.9 billion globally in the first half of 2019 alone.
Ginkgo has been busy over the last three years. As one of the leaders in synthetic biology they’re developing potential antibiotics for drug-resistant conditions in a $160 million partnership with pharmaceutical giant, Roche. In a $122 million deal with Cronos, the company is also looking to produce cannabinoids. And along with Synlogic, Gingko hopes to accelerate the development of living medicines in an $80 million partnership. This all began in 2016, Ginkgo was celebrated as one of the World Economic Forum's Technology Pioneers, alongside a selection of the world's most innovative companies
The news of their additional funding likely means that Ginkgo's team will further be able to impact society at large. Ultimately, the company’s focus is on sustainability, demonstrated by their engineering and fermentation of yeast to produce compounds for us as flavors, fragrances, and food ingredients.
Sustainability is a hot button issue, and Ginkgo’s dedication to its cause remains to be their point of difference. But it also stands to influence companies across every industry. Synthetic biology has the potential to replace costly and unsustainable manufacturing processes, solving global issues like climate and waste.
Perhaps Ginkgo’s impressive funding will encourage future thinkers and entrepreneurs to bring their thoughts and inventions to life.