Boston-based synthetic biology leader Ginkgo Bioworks will go public through SPAC company Soaring Eagle Acquisition.
Why it matters: The deal – one of the largest in the SPAC space – values Ginkgo at an implied $ 15 billion and will pour the funding into CEO Jason Kelly’s plans to turn the company into Amazon Web Services (AWS) for synthetic biology.
- A report released last year by the McKinsey Global Institute predicted that bioengineered products could have a direct economic impact of up to $ 4 trillion over the next 10 to 20 years.
What’s happening: Ginkgo – founded in 2008 by Kelly and a team of MIT synthetic biology experts – builds made-to-order microbes for companies in a number of industries, including fragrances and food ingredients.
- It takes advantage of the growing ability of scientists to design and print DNA on demand – the field now known as synthetic biology.
- Ginkgo – the first synbio unicorn – was last privately valued at 4.86 USD …