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Cathie Wood Favorite Ginkgo Bioworks Bolsters Biosecurity Platform Via This Acquisition

·1 min read
  • Ginkgo Bioworks Holdings Inc (NYSE: DNA) has purchased certain epidemiological data infrastructure assets from Baktus, Inc., a Delaware-based public benefit corporation. Financial terms were not disclosed.

  • Under the terms of the deal, Ginkgo will assume ownership of proprietary datasets, modeling and analytic tools, and a software platform. Ginkgo also expects to integrate several ongoing epidemiological analysis projects and a team of epidemiological data experts into its biosecurity and public health initiative, Concentric by Ginkgo.

  • Baktus, through its subsidiary, Metabiota, Inc., has built a database of infectious disease outbreaks.

  • Baktus and Metabiota are expected to continue their independent operations after transferring the assets and epidemiological data personnel included in this transaction.

  • "Our team has spent nearly a decade building epidemiological data and risk modeling tools for the public and private sector to more effectively quantify, mitigate and manage epidemic risk," said Nita Madhav, outgoing CEO of Metabiota, who will be joining Ginkgo as part of the transaction.

  • DNA held $1.4 billion in cash and equivalents as of June 30, 2022.

  • Recently, Ark Invest's Cathie Wood bought over 1 million shares of biotech firm Ginkgo Bioworks, valued at over $3.7 million.

  • Price Action: DNA shares are trading lower by 10.3% at $2.91 on the last check Friday.

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