Ginkgo Bioworks to Acquire Dutch DNA Biotech
US biotech Ginkgo Bioworks has entered into an agreement to buy Dutch DNA Biotech. Ginkgo said the move will expand its operations internationally for the first time. Financial terms of the deal, which is expected to close in July, were not disclosed.
Based in Utrecht, the Netherlands, Dutch DNA has a proprietary technology focused on developing fungal strains and fermentation processes for producing proteins and organic acids. Ginkgo said the biotech’s significant expertise and assets for the large-scale production of proteins would add a valuable set of tools to its platform.
Created in 2015 as a management buyout from the Netherlands Organization for Applied Scientific Research, Dutch DNA has particular expertise in filamentous fungi, which are regarded as incredibly efficient and used to make everything from the enzymes in laundry detergent to proteins for food.
Under the terms of the agreement, Ginkgo will buy all of Dutch DNA’s shares through a combination of cash and equity. In addition, certain Dutch DNA shareholders will also receive earn-out payments upon achievement of one or more technical and commercialization milestones.
“This step creates an amazing opportunity to deploy Dutch DNA’s technology platform in a variety of market segments. We hope the combination of ‘conventional’ biotechnology with artificial intelligence and high throughput technologies will boost developments significantly,” said Art de Boo, Dutch DNA’s founder. “Further we are pleased that our company may serve as a stepping stone for Ginkgo to come to Europe and the Netherlands.”
Ginkgo specializes in using genetic engineering to design and produce organisms with applications in diverse markets, for example food ingredients, fragrances, cosmetics, medicines, among others.
Author: Elaine Burridge, Freelance Journalist
