BOSTON, July 18, 2022 /PRNewswire/ -- Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced the launch of a new cell programming project as part of a broader collaboration with Sumitomo Chemical Co., Ltd (TSE:4005), one of Japan's leading chemical companies. Through this partnership, Sumitomo Chemical will leverage Ginkgo's extensive codebase and expertise in organism engineering to produce molecules in a sustainable fashion that are used in products across a broad range of industries. The target molecule of this latest project is planned to be used in the personal care and cosmetic industries and is envisioned to augment or replace one that is otherwise currently gathered from animal sources.
By engineering a strain that will produce the targeted ingredient through fermentation, Ginkgo and Sumitomo Chemical aim to create products that will bring significant benefits to consumers by supplying an ingredient that is animal-free and more sustainable. This is a new project in addition to the companies' existing collaboration, which began in 2021 and focuses on bio-based production of selected molecules for the broad Sumitomo Chemical portfolio which includes offerings from personal care and cosmetics to agriculture and pharma, and from chemicals to industrial products and more.
"The cosmetics industry is demanding more sustainable and cost-competitive beauty and personal care products, as are many others we serve, and we see tremendous potential in synthetic biology's ability to make this possible at a commercial scale," said Hiroshi Ueda, Executive Vice President of Sumitomo Chemical. "We're encouraged by the progress of our ongoing first project with Ginkgo, and we believe it's clear from how well our teams collaborate that we will also be able to find success within additional product areas as well. Through this project, we aim to build our own capability on fermentation production with, active involvement of our new organization SynBio Hub."
"Not only is this project a natural fit for Ginkgo's platform, but it provides the perfect opportunity to leverage and showcase our growing codebase," said Patrick Boyle, Head of Codebase for Ginkgo. "Ginkgo has prior experience developing a precursor molecule to the one Sumitomo Chemical is currently targeting. The data and experience Ginkgo has on this precursor molecule has significantly accelerated our current program with Sumitomo Chemical, possibly saving Sumitomo Chemical multiple years off its development timeline."
About Ginkgo Bioworks
Ginkgo is building a platform to enable customers to program cells as easily as we can program computers. The company's platform is enabling biotechnology applications across diverse markets, from food and agriculture to industrial chemicals to pharmaceuticals. Ginkgo has also actively supported a number of COVID-19 response efforts, including K-12 pooled testing, vaccine manufacturing optimization and therapeutics discovery. For more information, visit www.ginkgobioworks.com.
About Sumitomo Chemical Company, Limited
Headquartered in Tokyo, Japan, Sumitomo Chemical is one of Japan's leading chemical companies, offering a diverse range of products globally in the fields of essential chemicals & plastics, energy & functional materials, IT-related chemicals, health & crop sciences, and pharmaceuticals. The company's consolidated net sales for fiscal year 2021 were JPY 2.7 trillion and number of employees is about 34,703 as of March 31, 2022. For additional information, visit the company's website at https://www.sumitomo-chem.co.jp/english/.
Forward-Looking Statements of Ginkgo Bioworks
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the potential success of the partnership and Ginkgo's cell programming platform. 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) the effect of Ginkgo's business combination with Soaring Eagle Acquisition Corp. ("Soaring Eagle") on Ginkgo's business relationships, performance, and business generally, (ii) risks that the business combination disrupts current plans of Ginkgo and potential difficulties in Ginkgo's employee retention, (iii) the outcome of any legal proceedings that may be instituted against Ginkgo related to its business combination with Soaring Eagle, (iv) volatility in the price of Ginkgo's securities now that it is a public company 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, changes in laws and regulations affecting Ginkgo's business and changes in the combined capital structure, (v) the ability to implement business plans, forecasts, and other expectations after the completion of the business combination, and identify and realize additional opportunities, (vi) the risk of downturns in demand for products using synthetic biology, (vii) 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, and (viii) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations. 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 quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC") on May 16, 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:
GINKGO BIOWORKS MEDIA CONTACT:
SOURCE Ginkgo Bioworks