Ginkgo encourages new biotechnology start-ups to piggyback on that technology. It’s the same as technology start-ups using Amazon Web Services to provide the underlying computing and data storage. Founded in 2018, Motif Foodworks is one of them. It relies on ginkgo to make a source of plant-based alternatives to meat and dairy products and to provide yeast strains that enhance flavor and texture.
Ginkgo collects money in a variety of ways, including royalties, royalties and equity interests, depending on the customer. Revenues from the foundry business are expected to grow 40% in the first half of 2021 to reach $ 100 million annually. By the end of last year, Ginkgo’s lab had completed or worked on a total of 74 cell projects. We plan to add another 30 this year alone.
“The business model is beginning to prove itself,” Kelly said.
In a filing with investors, Ginkgo said the foundry business should reach the break-even point by 2024 or 2025, which is slowly beginning to enter equity investment and loyalty returns. Excluded.
Ginkgo is an innovative leader in synthetic biology on all accounts. Cumbers of SynBioBeta said:
Ginkgo aims to automate a wide range of biology, but this area is still primarily handmade craftsmanship. Last year, an estimated $ 33 billion was spent on cell engineering research by universities, government laboratories, biotechnology companies, and large corporations. Over 60% of spending was spent on labor and the rest on equipment, reagents and other materials. The company states that the labor share of the Ginkgo project is about 30%.
The question is how much demand is there for Ginkgo’s computer-style technology platform and how fast it will be. The company and its investors are betting that the moment has arrived. Ginkgo has raised more than $ 1.6 billion to further expand its automated biology foundry by publishing it through a special purpose company.
The SPAC market has been volatile recently. But the investor is confident that the deal, which values ginkgo at about $ 15 billion, will be good for both the company and its backers in the long run.
“The Ginkgo team has spent years building this technology,” said Bill Ford, CEO of General Atlantic, an investment firm and Ginkgo backer. “It has a lead and we are in the early stages of synthetic biology.”
Biology begins a technological transformation
Source link Biology begins a technological transformation