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Synlogics Wins $80M Investment From Ginkgo

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Synlogics Wins $80M Investment From Ginkgo

Synlogic, Inc. (NASDAQ: SYBX) announced a platform collaboration to speed up the development of Synlogic’s pipeline of Synthetic Biotic medicines using Ginkgo’s cell programming platform.

The agreement provides an $80.0 million equity investment at a premium in Synlogic by Ginkgo and entry into a long-term strategic platform collaboration.

Synlogic first began working with Ginkgo back in 2017 to gain access to high-throughput organism screening and design capabilities. The goal was to accelerate the development of what Synlogic calls Synthetic Biotic medicines, microbes genetically engineered to counter the biology that drives diseases such as hyperammonemia and forms of cancer.

Synlogic will use Ginkgo’s cell programming platform for building and testing thousands of microbial strains to accelerate progression of early preclinical leads to drug candidates optimized for further clinical development.

Synlogic's stock was trading higher by 20% at $7.55 per share at time of publication.

Posted-In: Ginkgo BioworksNews Financing Movers Trading Ideas

 

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