Ginkgo Bioworks Holdings Inc (NYSE:DNA) has agreed to acquire FGen AG, a Swiss company specializing in strain development and optimization.
- Under the transaction terms, FGen will receive an upfront payment and additional contingent consideration.
- Specific details were not disclosed.
- FGen has developed an ultra-high-throughput (uHT) screening platform built on nanoliter reactor technology.
- Ginkgo believes that FGen's technology will significantly enhance its cell screening capabilities.
- Read Next: Why BofA Sees 'Better Entry Point' In Ginkgo Bioworks Stock.
- Post-closing, Ginkgo expects that the integration of FGen's platform can significantly increase the capacity of Ginkgo's Design-Build-Test-Learn strain development engine.
- FGen's platform is highly flexible across organisms, pathways, and target products. The platform can be deployed to screen for both intracellular and secreted target products and small molecules & proteins.
- It can also accommodate diverse organisms, including bacteria, yeast, filamentous species, and mammalian cells.
- Price Action: DNA shares are down 2.93% at $2.96 during the market session on the last check Monday.
