Ginkgo in pact with Bayer to expand platform expertise in agricultural biologicals

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  • The shares of Ginkgo Bioworks (NYSE:DNA) are trading higher in the premarket Friday after the cell programming company announced a partnership with German conglomerate Bayer (OTCPK:BAYZF) (OTCPK:BAYRY) to expand its horizontal platform capabilities in agricultural biologicals.
  • The transaction expected to close before the end of 2022 is designed to “support agricultural biologicals R&D from discovery through formulation and early field trials and will offer services to customers of all sizes in the agriculture industry,” Ginkgo (DNA) said.
  • As part of the deal, Ginkgo (DNA) will acquire Bayer's (OTCPK:BAYZF) West Sacramento Biologics Research & Development site and team, along with its internal discovery and optimization platform.
  • In addition, the company will add the R&D platform assets from Joyn Bio, a joint venture formed between Ginkgo (DNA) and Leaps by Bayer (OTCPK:BAYZF) in 2017.
  • The company projects that the anticipated cash proceeds from the multi-year partnership can significantly offset the forecasted operating expenditures linked to the deal.
  • Read: Recently, Ginkgo (DNA) and synthetic biology company Twist Bioscience (TWST) inked a new supply agreement.

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