Life Science News

15 new Cell Programs added and $66 million of Total revenue in Q3 2022

Closed four acquisitions in October, including Zymergen and Bayer's West Sacramento agricultural biologicals capabilities, enabling commencement of integration and pursuit of new growth opportunities

End of quarter cash balance of over $1.3 billion provides continued financial flexibility

Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, "Ginkgo"), which is building the leading platform for cell programming and biosecurity, today announced its results for the third quarter ended September 30, 2022 . The update, including a webcast slide presentation with additional details on the third quarter and supplemental financial information, will be available at investors.ginkgobioworks.com .

(PRNewsfoto/Ginkgo Bioworks)

"I'm very excited about the strategic progress we have made at Ginkgo, highlighted by the four acquisitions we completed in October, and I'm thrilled to welcome our new team members. I believe these additions will meaningfully strengthen our platform and services," said Jason Kelly , co-founder and CEO of Ginkgo. "Our team worked extremely hard to close both the Zymergen and Bayer transactions efficiently, with the Zymergen transaction in particular closing well in advance of our initial expectations. The faster Zymergen closing timeline provides us with significant strategic benefits, including a higher acquired cash balance and the ability to immediately focus Zymergen's outstanding team and assets on Ginkgo's core service offering. Successful M&A execution illustrates our ability to take advantage of opportunities catalyzed by the current market environment, while our strong standalone cash balance of over $1.3 billion at the end of the third quarter continues to afford us substantial flexibility."

Recent Business Highlights & Strategic Positioning

  • Generated Foundry revenue of $25 million in Q3 2022
  • Added 15 new Cell Programs to the Foundry platform in Q3 2022, representing 50% growth over the comparable prior year period
    • Continued traction in pharma and biotech, including a collaboration with Merck to engineer enzymes for use as biocatalysts in Merck's active pharmaceutical ingredient (API) manufacturing efforts
  • Concentric by Ginkgo, Ginkgo's biosecurity and public health offering, executed well in Q3 2022, generating $42 million in Biosecurity revenue
    • Expanded internationally, including Memoranda of Understanding with the Rwanda Development Board and the Ministry of Investment of Saudi Arabia
    • Added enhanced analytic modules, including epidemiological tracking, modeling, and forecasting capabilities, and announced computational tools to detect engineered biology in collaboration with the Intelligence Advanced Research Projects Activity (IARPA)
    • Continuing to pilot new modalities and offerings, including passive monitoring of wastewater and air
  • Completed acquisitions of Zymergen and Bayer's West Sacramento Biologics Research & Development site in October
    • The swift closing of the Zymergen transaction delivers more cash at close and enables Ginkgo to commence integration activities and pursue new growth opportunities faster than originally anticipated
  • Also in October, acquired Altar, which has developed a robust adaptive laboratory evolution (ALE) platform, and Circularis, a proprietary circular RNA and promoter screening platform

Third Quarter 2022 Financial Highlights

  • Third quarter 2022 Total revenue of $66 million , down from $78 million in the comparable prior year period, a decrease of 14%
    • Third quarter 2022 Foundry revenue of $25 million , down from $35 million in the comparable prior year period, a decrease of 29%. Third quarter 2022 Foundry revenue did not include any large milestone payments, while the third quarter 2021 Foundry revenue included downstream value share revenue related to an equity milestone achievement by Cronos Group Inc.
    • Third quarter 2022 Biosecurity revenue of $42 million , down from $43 million in the comparable prior year period, a decrease of 3%. Third quarter 2022 Biosecurity gross profit margin of 41%
  • Third quarter 2022 Loss from operations of $(653) million (inclusive of stock-based compensation expense of $563 million ), compared to Loss from operations of $(27) million in the comparable prior year period. The stock-based compensation expense primarily relates to the continued GAAP accounting for the modification of restricted stock units issued prior to becoming a public company, as disclosed in our annual report on Form 10-K filed with the SEC on March 29, 2022
  • Third quarter 2022 Adjusted EBITDA of $(70) million , down from $(18) million in the comparable prior year period
  • Cash and cash equivalents balance as of the end of the third quarter of over $1.3 billion puts Ginkgo in a strong financial position to pursue its strategic objectives

Full Year 2022 Guidance

  • Ginkgo expects to add 55-60 new Cell Programs to the Foundry platform in 2022
  • Ginkgo further revised its expectation for Total revenue from $425 $440 million to $460 $480 million in 2022
  • Ginkgo revised its expectation for Foundry revenue to $150 $170 million in 2022, which reflects our current assumptions and uncertainty regarding the timing of certain discrete milestone payments
  • While Biosecurity remains an uncertain business, based on strong year-to-date performance Ginkgo now expects Biosecurity revenue in 2022 of at least $310 million

Conference Call Details

Ginkgo will host a videoconference today, Monday, November 14, 2022 , beginning at 4:30 p.m. ET . The presentation will include an overview of the third quarter financial performance, recent business updates, a discussion on Ginkgo's outlook, as well as a moderated question and answer session.

To ask a question ahead of the presentation, please submit your questions to @Ginkgo on Twitter (hashtag #GinkgoResults) or by sending an e-mail to investors@ginkgobioworks.com .

A webcast link is available on Ginkgo's Investor Relations website and a replay will be made available following the presentation.

Ginkgo Investor Website: https://investors.ginkgobioworks.com/events/

Audio-Only Dial Ins:
+1 646 876 9923 ( New York )
+1 301 715 8592 ( Washington DC )
+1 312 626 6799 ( Chicago )
+1 669 900 6833 ( San Jose )
+1 253 215 8782 (Tacoma)
+1 346 248 7799 ( Houston )
+1 408 638 0968 ( San Jose )

Webinar ID: 936 0665 8370

If you experience technical difficulties with any of these dial-ins or if you need international dial-in numbers, please visit our web site at https://investors.ginkgobioworks.com/events/ for updated dial-in information.

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, the presentation, and the conference call and webcast contain certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our plans, strategies, current expectations, operations and anticipated results of operations, both business and financial, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ materially from those expressed or implied by such forward-looking statements. 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 document, 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, and (vi) our ability to realize the expected benefits of merger and acquisition transactions. 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 most recent quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC"), 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.

Use of Non-GAAP Financial Measures

Certain of the financial measures included in this release, including Adjusted EBITDA, have not been prepared in accordance with generally accepted accounting principles ("GAAP"), and constitute "non-GAAP financial measures" as defined by the SEC.  Ginkgo has included these non-GAAP financial measures because it believes they provide an additional tool for investors to use in evaluating Ginkgo's financial performance and prospects. Due to the nature and/or size of the items being excluded, such items do not reflect future gains, losses, expenses or benefits and are not indicative of our future operating performance. These non-GAAP financial measures are supplemental to, should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. In addition, these non-GAAP financial measures may differ from non-GAAP financial measures with comparable names used by other companies. See the reconciliation below for additional information regarding certain of the non-GAAP financial measures included in this release, including a description of these non-GAAP financial measures and a reconciliation of the historic measures to Ginkgo's most comparable GAAP financial measures.

Ginkgo Bioworks Contacts:

INVESTOR CONTACT:
investors@ginkgobioworks.com

MEDIA CONTACT:
press@ginkgobioworks.com

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except per share data, unaudited)








As of September 30,


As of December 31,



2022


2021

Assets





Current assets:





Cash and cash equivalents


$1,302,603


$1,550,004

Accounts receivable, net


113,661


131,544

Accounts receivable - related parties


2,095


4,598

Inventory, net


5,860


3,362

Prepaid expenses and other current assets


37,784


33,537

Total current assets


1,462,003


1,723,045

Property and equipment, net


187,577


145,770

Investments


96,310


102,037

Equity method investments


4,135


13,194

Intangible assets, net


47,938


21,642

Goodwill


28,804


21,312

Other non-current assets


43,928


43,990

Total assets


$1,870,695


$2,070,990

Liabilities and Stockholders' Equity





Current liabilities:





Accounts payable


$ 11,323


$ 8,189

Deferred revenue


40,505


33,240

Accrued expenses and other current liabilities


72,990


93,332

Total current liabilities


124,818


134,761

Non-current liabilities:





Deferred rent, net of current portion


21,001


18,746

Deferred revenue, net of current portion


150,637


155,991

Lease financing obligation


59,842


22,283

Warrant liabilities


39,739


135,838

Other non-current liabilities


34,922


35,992

Total liabilities


430,959


503,611

Commitments and contingencies





Stockholders' equity:





Preferred stock, $0.0001 par value



Common stock, $0.0001 par value


165


161

Additional paid-in capital


5,668,791


3,804,844

Accumulated deficit


(4,226,310)


(2,297,925)

Accumulated other comprehensive loss


(7,910)


(1,715)

Total Ginkgo Bioworks Holdings, Inc. stockholders' equity


1,434,736


1,505,365

Non-controlling interest


5,000


62,014

Total stockholders' equity


1,439,736


1,567,379

Total liabilities and stockholders' equity


$1,870,695


$2,070,990

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except share and per share data, unaudited)




Three Months Ended September 30,


Nine Months Ended September 30,



2022


2021


2022


2021

Foundry revenue


$24,679


$34,737


$90,409


$78,833

Biosecurity revenue:









Product


5,190


8,492


23,024


14,622

Service


36,529


34,381


265,988


71,888

Total revenue


66,398


77,610


379,421


165,343

Costs and operating expenses:









Cost of Biosecurity product revenue


2,660


3,430


13,199


15,185

Cost of Biosecurity service revenue


21,995


18,872


160,799


47,927

Research and development (1)


259,580


53,021


871,488


164,637

General and administrative (1)


435,184


28,959


1,308,379


81,326

Total operating expenses


719,419


104,282


2,353,865


309,075

Loss from operations


(653,021)


(26,672)


(1,974,444)


(143,732)

Other (expense) income:









Interest income (expense), net


5,820


(528)


7,097


(1,481)

Loss on equity method investments


(22,711)


(39,651)


(53,764)


(72,621)

(Loss) gain on investments


(1,758)


(12,368)


(39,981)


3,009

Change in fair value of warrant liabilities


(12,445)


(18,482)


96,099


(18,482)

Gain on deconsolidation of subsidiaries


15,989



31,889


Other (expense) income, net


(957)


(4,911)


629


863

Total other (expense) income, net


(16,062)


(75,940)


41,969


(88,712)

Loss before income taxes


(669,083)


(102,612)


(1,932,475)


(232,444)

Income tax benefit


(28)


(207)


(257)


(797)

Net loss


(669,055)


(102,405)


(1,932,218)


(231,647)

Net loss attributable to non-controlling interest



(524)


(3,833)


(2,256)

Net loss attributable to Ginkgo Bioworks Holdings, Inc. stockholders


$(669,055)


$(101,881)


$ (1,928,385)


$(229,391)

Net loss per share attributable to Ginkgo Bioworks Holdings, Inc. common stockholders, basic and diluted


$(0.41)


$(0.08)


$(1.19)


$(0.18)

Weighted average common shares outstanding, basic and diluted


1,630,910,628


1,323,574,063


1,619,790,335


1,302,253,729

Comprehensive loss:









Net loss


$(669,055)


$(102,405)


$ (1,932,218)


$(231,647)

Other comprehensive loss:









Foreign currency translation adjustment


(2,414)


(877)


(6,195)


(877)

Total other comprehensive loss


(2,414)


(877)


(6,195)


(877)

Comprehensive loss


$(671,469)


$(103,282)


$ (1,938,413)


$(232,524)


1)     In the three and nine months ended September 30, 2022, R&D and G&A expenses included a significant charge to stock-based compensation expense as a result of the modification of
the vesting terms of restricted stock units and all related earnout shares. Total stock-based compensation expense, inclusive of $0.2 million and $7.2 million in employer payroll taxes for
the three and nine months ended September 30, 2022, respectively, was as follows:





Three Months Ended September 30,


Nine Months Ended September 30,

(in thousands)


2022


2021


2022


2021

Research and development


$187,019


$20


$ 670,650


$60

General and administrative


376,366


107


1,159,040


14,704

Total


$563,385


$ 127


$ 1,829,690


$14,764

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands, unaudited)








Nine Months Ended September 30,



2022


2021

Cash flows from operating activities:





Net loss


$ (1,932,218)


$(231,647)

Adjustments to reconcile net loss to net cash used in operating activities:





Depreciation and amortization


28,602


21,073

Stock-based compensation


1,822,472


14,764

Loss on equity method investments


53,764


72,621

Loss (gain) on investments


39,981


(3,009)

Non-cash customer consideration


(18,139)


(12,562)

Change in fair value of notes receivable


(269)


1,196

Change in fair value of warrant liabilities


(96,099)


18,482

Gain on deconsolidation of subsidiaries


(31,889)


In-process research and development


1,162


Loss on disposal of equipment


3,091


Other non-cash activity


303


Changes in operating assets and liabilities:





Accounts receivable


20,521


(28,670)

Prepaid expenses and other current assets


8,347


5,565

Inventory


(2,498)


(738)

Other non-current assets


144


(35)

Accounts payable


3,893


(2,771)

Accrued expenses and other current liabilities


(15,637)


29,599

Deferred revenue, current and non-current


(35,365)


(5,538)

Deferred rent, non-current


2,255


4,320

Other non-current liabilities


82


29,073

Net cash used in operating activities


(147,497)


(88,277)

Cash flows from investing activities:





Purchase of convertible note


(10,000)


Purchases of property and equipment


(26,626)


(51,407)

Purchase of investment in equity securities


(3,691)


(5,000)

Deconsolidation of subsidiaries - cash


(55,721)


Business and asset acquisitions, net of cash acquired


(657)


(21,382)

Other


(439)


304

Net cash used in investing activities


(97,134)


(77,485)

Cash flows from financing activities:





Proceeds from reverse recapitalization, net of redemptions of $867,253 and offering costs of $106,838



1,510,909

Proceeds from exercise of stock options


120


41

Taxes paid related to net share settlement of equity awards


(981)


Repurchase of Founder shares



(24,998)

Principal payments on capital leases and lease financing obligation


(1,082)


(764)

Non-controlling interest contributions



60,000

Contingent consideration payment


(521)


Payment of equity offering issuance costs


(132)


Net cash (used in) provided by financing activities


(2,596)


1,545,188

Effect of foreign exchange rates on cash and cash equivalents


(191)


(8)

Net (decrease) increase in cash, cash equivalents and restricted cash


(247,418)


1,379,418






Cash and cash equivalents, beginning of period


1,550,004


380,801

Restricted cash, beginning of period


42,924


5,076

Cash, cash equivalents and restricted cash, beginning of period


1,592,928


385,877






Cash and cash equivalents, end of period


1,302,603


1,739,056

Restricted cash, end of period


42,907


26,239

Cash, cash equivalents and restricted cash, end of period


$1,345,510


$1,765,295






Ginkgo Bioworks Holdings, Inc.

Selected Non-GAAP Financial Measures

(in thousands, unaudited)












Three Months Ended September 30,


Nine Months Ended September 30,



2022


2021


2022


2021

Net loss attributable to Ginkgo Bioworks Holdings, Inc. stockholders


$ (669,055)


$ (101,881)


$(1,928,385)


$ (229,391)

Interest (income) expense, net


(5,820)


528


(7,097)


1,481

Income tax benefit


(28)


(207)


(257)


(797)

Depreciation and amortization


9,506


8,279


28,602


21,073

EBITDA


(665,397)


(93,281)


(1,907,137)


(207,634)

Stock-based compensation (1)


563,385


127


1,829,690


14,764

Loss on equity method investments (2)


22,711


39,127


52,927


70,365

Loss (gain) on investments


1,758


12,368


39,981


(3,009)

Change in fair value of warrant liabilities


12,445


18,482


(96,099)


18,482

Gain on deconsolidation of subsidiaries


(15,989)



(31,889)


Merger and acquisition related expenses (3)


12,017



18,579


In-process research and development (4)




1,605


Other (5)


(561)


5,192


(229)


421

Adjusted EBITDA


$ (69,631)


$ (17,985)


$ (92,572)


$ (106,611)




(1) For the three and nine months ended September 30, 2022, includes employer payroll taxes of $0.2 million and $7.2 million, respectively.

(2) Represents losses on equity method investments under the hypothetical liquidation at book value method, net of losses attributable to
non-controlling interests.

(3) Represents transaction and integration costs directly related to mergers and acquisitions including (i) due diligence, legal and other
professional fees associated with acquisitions and (ii) the fair value adjustments to contingent consideration liabilities resulting from
acquisitions.

(4) Represents acquired intangible assets expensed to research and development associated with an asset acquisition.

(5) For the three and nine months ended September 30, 2022, includes changes in fair value of the Access Bio Convertible Notes and the
Glycosyn Promissory Note. For the three and nine months ended September 30, 2021, includes changes in fair value of the Access Bio
Convertible Notes and the Glycosyn Promissory Note as well as gain related to a settlement payment.

Ginkgo Bioworks Holdings, Inc.

Segment Information

(in thousands, unaudited)










Three Months Ended September 30,


Nine Months Ended September 30,


2022


2021


2022


2021

Revenue:








Foundry

$24,679


$34,737


$90,409


$78,833

Biosecurity

41,719


42,873


289,012


86,510

Total revenue

66,398


77,610


379,421


165,343

Segment cost of revenue:








Biosecurity

24,655


22,302


173,998


63,112

Segment research and development expense:








Foundry

63,402


42,897


173,470


114,619

Biosecurity

387


2,093


1,347


29,870

Total segment research and development expense

63,789


44,990


174,817


144,489

Segment general and administrative expense:








Foundry

41,569


17,026


104,863


44,903

Biosecurity

17,039


11,689


42,683


21,308

Total segment general and administrative expense

58,608


28,715


147,546


66,211

Segment operating income (loss):








Foundry

(80,292)


(25,186)


(187,924)


(80,689)

Biosecurity

(362)


6,789


70,984


(27,780)

Total segment operating income (loss)

(80,654)


(18,397)


(116,940)


(108,469)

Operating expenses not allocated to segments:








Stock-based compensation (1)

563,385


127


1,829,690


14,764

Depreciation and amortization

9,224


8,148


27,756


20,499

Change in fair value of contingent consideration liability

(242)



58


Loss from operations

$(653,021)


$(26,672)


$ (1,974,444)


$(143,732)









(1) Includes $0.2 million and $7.2 million in employer payroll taxes for the three and nine months ended September 30, 2022, respectively.

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SOURCE Ginkgo Bioworks

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DNA
Ginkgo Announces Public Offering of Class A Common Stock

Ginkgo Announces Public Offering of Class A Common Stock

Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) ("Ginkgo"), which is building the leading platform for cell programing and biosecurity, today announced the sale of shares of  its Class A common stock for gross proceeds of approximately $100 million to BTIG, LLC, as the underwriter in the registered public offering of those shares. In connection with this offering, Ginkgo has granted the underwriter a 30-day option to purchase up to an additional $15 million of  shares of Class A common stock.

(PRNewsfoto/Ginkgo Bioworks)

The last reported sale price of Ginkgo's Class A common stock on November 15, 2022 was $2.67 per share.  The underwriter proposes to offer for sale the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to the prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part.

BTIG, LLC is acting as the sole book-running manager for the offering. The offering is expected to close on or about November 18, 2022 , subject to the satisfaction of customary closing conditions.

Ginkgo intends to use the net proceeds from the offering to offset the cash used to finance the acquisition of certain assets and liabilities of Bayer CropScience LP and for other general corporate purposes. The shares described above are being offered by Ginkgo pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC") on October 4, 2022 and declared effective by the SEC on October 14, 2022 . A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on November 15, 2022 . The final prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus can be obtained at the SEC's website http://www.sec.gov or from BTIG, LLC at 65 East 55th Street New York, NY , 10022 or by e-mail at ProspectusDelivery@btig.com .

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Ginkgo

Ginkgo 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.

Forward-Looking Statements of Ginkgo

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the use of proceeds from the sale of Class A common stock and the expected closing of the offering. 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, and (vi) our ability to realize the expected benefits of merger and acquisition transactions. 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, most recent quarterly report on Form 10-Q filed with the SEC on November 14, 2022 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

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Ginkgo Bioworks Announces Proposed Public Offering of Class A Common Stock

Ginkgo Bioworks Announces Proposed Public Offering of Class A Common Stock

Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) ("Ginkgo"),which is building the leading platform for cell programing and biosecurity, today announced that it intends to offer and sell $100 million of its Class A common stock in an underwritten public offering. As part of this offering, Ginkgo intends to grant the underwriter a 30-day option to purchase up to an additional $15 million of the shares of Class A common stock. All of the shares in the proposed offering are to be sold by Ginkgo.

(PRNewsfoto/Ginkgo Bioworks)

BTIG, LLC is acting as the sole book-running manager for the offering.

Ginkgo intends to use the net proceeds from the offering to offset the cash used to finance the acquisition of certain assets and liabilities of Bayer CropScience LP and for other general corporate purposes. The shares described above are being offered by Ginkgo pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC") on October 4, 2022 and declared effective by the SEC on October 14, 2022 . The offering will be made only by means of a preliminary prospectus supplement and accompanying prospectus, copies of which may be obtained, when available, from BTIG, LLC at 65 East 55th Street, New York, NY , 10022 or by e-mail at ProspectusDelivery@btig.com .

The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Ginkgo

Ginkgo 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.

Forward-Looking Statements of Ginkgo

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the use of proceeds from the sale of Class A common stock and the expected closing of the offering. 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, and (vi) our ability to realize the expected benefits of merger and acquisition transactions. 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, most recent quarterly report on Form 10-Q filed with the SEC on November 14, 2022 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

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/ginkgo-bioworks-announces-proposed-public-offering-of-class-a-common-stock-301679252.html

SOURCE Ginkgo Bioworks

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Lygos and Ginkgo Bioworks Announce Partnership to Optimize Production of Biobased Specialty Chemicals

Lygos and Ginkgo Bioworks Announce Partnership to Optimize Production of Biobased Specialty Chemicals

Strain development program aims to accelerate efforts to create sustainable chemicals

Lygos, Inc., a vertically integrated provider of sustainable specialty ingredients, and Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced a multi-product research and development collaboration designed to optimize and scale production of sustainable specialty ingredients that can replace toxic petrochemistry, reclaim local manufacturing, and advance industrial bio-innovation.

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Ginkgo Bioworks To Present New Data on High Throughput Pooled Screening Method to Discover Novel CAR-T Designs for Solid Tumors

Ginkgo Bioworks To Present New Data on High Throughput Pooled Screening Method to Discover Novel CAR-T Designs for Solid Tumors

Poster presentation at SITC 2022 highlights high throughput methods for discovery of novel CAR designs with improved persistence

Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced that it will be presenting a poster on November 11 at the 37th Annual Meeting of the Society for Immunotherapy of Cancer (SITC). The poster highlights Foundry-enabled methods for large-scale, combinatorial library design and screening of Chimeric Antigen Receptor (CAR) domains for improved persistence. The ability to screen hundreds of thousands of CAR designs in primary human T cells can enable discovery of variants with desired characteristics. This capability has the potential to discover CAR-T therapies that are effective against solid tumors.

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Ginkgo Bioworks Announces Date of Third Quarter 2022 Results Presentation

Ginkgo Bioworks Announces Date of Third Quarter 2022 Results Presentation

Presentation and Q&A session scheduled for post-market on Monday, November 14, 2022

- Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, announced today that it plans to host a presentation and Q&A session reviewing business performance for the third quarter ended September 30, 2022 on Monday, November 14, 2022 beginning at 4:30 p.m. ET .

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Mindset Pharma CEO, James Lanthier Issues Letter to Shareholders

Mindset Pharma CEO, James Lanthier Issues Letter to Shareholders

Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) ("Mindset" or the "Company") today issued a letter to shareholders from James Lanthier, Chief Executive Officer of Mindset.

Dear Fellow Shareholders:

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Interim Data from Ambrx's Study of ARX788 selected for Spotlight Poster Discussion at the 2022 San Antonio Breast Cancer Symposium

Interim Data from Ambrx's Study of ARX788 selected for Spotlight Poster Discussion at the 2022 San Antonio Breast Cancer Symposium

ARX788 is an anti-HER2 antibody drug conjugate currently being studied in several registrational trials in breast cancer and gastric/GEJ cancer by Ambrx's partner, NovoCodex Biopharmaceuticals, in China. Pursuant to its recently announced strategic reprioritization, Ambrx has paused the internal development of ARX788 and is seeking to partner ARX788 outside of China.

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VISIONARY-MS Trial Results Featured in Platform Presentation at PACTRIMS 2022: CNM-Au8® Demonstrated Global Neurological Improvement in Stable MS Patients as Adjunct to Background Disease Modifying Therapies

VISIONARY-MS Trial Results Featured in Platform Presentation at PACTRIMS 2022: CNM-Au8® Demonstrated Global Neurological Improvement in Stable MS Patients as Adjunct to Background Disease Modifying Therapies

  • CNM-Au8 demonstrated low contrast vision improvement and global neurological improvement (low contrast vision, cognition, upper extremity function, and walking speed) in stable MS patients as adjunct to background immunomodulating disease modifying therapies (DMTs)
  • No approved MS DMTs have shown global neurological improvement in stable MS patients, a significant unmet medical need in MS
  • CNM-Au8 treatment was well-tolerated, and no significant safety findings were observed

Clene Inc. (Nasdaq: CLNN) (along with its subsidiaries, "Clene") and its wholly owned subsidiary Clene Nanomedicine Inc., a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative diseases, today announced that the VISIONARY-MS trial results were featured as a platform presentation by Professor Michael Barnett, MBBS FRACP PhD at the 14th Annual Singapore Pan-Asian Committee on Treatment and Research in Multiple Sclerosis (PACTRIMS) Congress held November 24-26.

The platform presentation titled, " VISIONARY-MS Top-line Results: A Phase 2, Randomized, Double-Blind, Parallel Group, Placebo-Controlled Study to Assess the Safety and Efficacy of CNM-Au8, a Catalytically Active Gold Nanocrystal Suspension in Relapsing Multiple Sclerosis ," provided proof-of-concept evidence for global neurological improvement as assessed by the modified Multiple Sclerosis Functional Composite (mMSFC), evaluating low contrast vision, cognition, upper extremity function, and walking speed with CNM-Au8 as adjunct to approved background immunomodulatory disease modifying therapies (DMTs) in stable MS patients.

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Mindset Pharma and PharmAla Enter into Exclusive Sales Agreement for the Sale and Distribution of Pharmaceutical Grade Psilocybin

Mindset Pharma and PharmAla Enter into Exclusive Sales Agreement for the Sale and Distribution of Pharmaceutical Grade Psilocybin

Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) ("Mindset" or the "Company") a drug discovery company developing novel, optimized, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders with unmet medical needs, and PharmAla Biotech Holdings Inc. ("PharmAla")(CSE: MDMA) a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA, today announced that they have entered into an exclusive sales agreement. Under the sales agreement, PharmAla will be the exclusive global reseller of Mindset's cGMP (i.e. pharmaceutical grade) psilocybin to appropriately licensed clinical researchers.

"In addition to forging new ground in next generation psychedelic drug discovery, Mindset has also developed a patent-pending, highly scalable psilocybin synthesis technology. A cost-effective supply of first generation psychedelic therapeutics is essential to the overall development of the medical psychedelic space, and Mindset is eager to help meet this increased demand for pharmaceutical grade psilocybin from researchers," said James Lanthier, CEO of Mindset. "We have chosen PharmAla as a partner because of their track record in working with clinical researchers, and existing sales infrastructure to sell pharmaceutical grade psychedelic compounds. It's also yet another concrete example of Mindset commercializing and creating value from its portfolio of innovations."

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Mindset Pharma and PharmAla Biotech Enter into Exclusive Sales Agreement

Mindset Pharma and PharmAla Biotech Enter into Exclusive Sales Agreement

PharmAla Biotech Holdings Inc. ("PharmAla")(CSE: MDMA), a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA, and Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) ("Mindset"), a drug discovery company developing novel, optimized, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders with unmet medical needs, today announced that they have entered into an exclusive sales agreement. Under the sales agreement, PharmAla will be the exclusive global reseller of Mindset's cGMP (i.e. pharmaceutical grade) psilocybin to appropriately licensed clinical researchers.

"In addition to forging new ground in next generation psychedelic drug discovery, Mindset has also developed a patent-pending, highly scalable psilocybin synthesis technology. A cost-effective supply of first generation psychedelic therapeutics is essential to the overall development of the medical psychedelic space, and Mindset is eager to help meet this increased demand for pharmaceutical grade psilocybin from researchers," said James Lanthier, CEO of Mindset. "We have chosen PharmAla as a partner because of their track record in working with clinical researchers, and existing sales infrastructure to sell pharmaceutical grade psychedelic compounds. It's also yet another concrete example of Mindset commercializing and creating value from its portfolio of innovations."

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Mindset Pharma Presents Poster at Neuroscience 2022 Highlighting Preclinical Data on MSP-1014, its Psilocybin-like Lead Drug Candidate

Mindset Pharma Presents Poster at Neuroscience 2022 Highlighting Preclinical Data on MSP-1014, its Psilocybin-like Lead Drug Candidate

Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) ("Mindset" or the "Company") a drug discovery company developing novel, optimized, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders with unmet medical needs, today announced data from preclinical studies comparing its novel prodrug of psilocin, MSP-1014, side-by-side to psilocybin across a battery of studies evaluating safety, behavioral and pharmacokinetics properties of both psilocin prodrugs. Joseph Araujo, Chief Scientific Officer, Director of Mindset Pharma, presented the findings at Neuroscience 2022 hosted by the Society of Neuroscience (SfN) in a poster titled " The Preclinical Safety, Behavioural and Pharmacokinetics Properties of MSP-1014, a Novel Prodrug of Psilocin ."

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