BOSTON, Feb. 28, 2024 /PRNewswire/ -- Today, Ginkgo Bioworks (NYSE: DNA), which is building the leading platform for cell programming and biosecurity, announced the acquisition of key assets of Reverie Labs, which built and used AI/ML tools to accelerate drug discovery. Ginkgo has acquired Reverie's infrastructure and software for training large-scale AI foundation models and four of Reverie's key AI team members will join Ginkgo. The acquisition is intended to strengthen Ginkgo's AI/ML-driven discovery services offering and to accelerate Ginkgo's work to build next-generation biological foundation models.
Anna Marie Wagner, SVP, Head of Corporate Development and Head of AI of Ginkgo Bioworks: "The Reverie Labs team has built an impressive platform and architecture for computationally-driven biological discovery and validation, and it's going to be very exciting to be able to use the tools they've developed across the wide, diverse range of discovery challenges our customers face. It has been a joy to work with this team throughout the transaction, and I'm looking forward to working with the Reverie team to accelerate the development of multimodal foundation models at Ginkgo."
The Reverie team joining Ginkgo as a part of this transaction (including Reverie's CTO, Ankit Gupta, who will be joining Ginkgo as Head of AI/ML Advancement) will support both the onboarding of Reverie's technology into Ginkgo's growing AI/ML infrastructure and also support the future development and application of AI/ML-based techniques to engineer biology. Ginkgo will incorporate Reverie's models, software, and workflows to advance its infrastructure for AI/ML-driven experimental design. Reverie's generative AI platform for chemistry will also be added into Ginkgo's capabilities to support small molecule programs.
Jonah Kallenbach, CEO and co-founder of Reverie Labs: "Our team at Reverie has made great strides using machine learning modeling to improve human wellbeing, and I am eager to marry our technology with Ginkgo's repository of data, enabling Ginkgo to build some of the world's best AI models to engineer biology and chemistry. Ginkgo is a perfect home for the technology that Ankit, the Reverie team, and I have built over the last six years, and I am very excited to see the impact it will have in the short and long term."
Ankit Gupta, CTO and co-founder of Reverie Labs: "Joining forces with Ginkgo Bioworks is an incredibly exciting next step in our mission of building and deploying machine learning models to solve impactful problems in biology. Working with Ginkgo's incredible biopharma and academic partners, we're excited to advance the entire industry with a positive feedback loop between generative AI and biology at Foundry scale. We're especially motivated by the impact our combined team can have on human health and biosecurity worldwide."
Ginkgo's existing AI/ML-driven efforts include Owl, its tool for AI-guided design. Owl integrates with a full range of computational tools, selected by Ginkgo's enzyme engineering team and proven out over dozens of projects. Last year, Ginkgo also announced a strategic partnership with Google Cloud to build a generative AI platform for engineering biology and for biosecurity. Additionally, Ginkgo has partnered with Merck to improve its biologic manufacturing, with Pfizer to advance the discovery and development of novel RNA molecules across priority research areas, and with Boehringer Ingelheim to accelerate discovery and development of novel therapeutic molecules to address hard-to-treat diseases.
To learn more about Ginkgo Biopharmaceutical Services, please visit https://www.ginkgobioworks.com/offerings/biopharmaceutical/
About Ginkgo Bioworks
Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo's biosecurity and public health unit, Concentric by Ginkgo, is building global infrastructure for biosecurity to empower governments, communities, and public health leaders to prevent, detect and respond to a wide variety of biological threats. For more information, visit ginkgobioworks.com and concentricbyginkgo.com, read our blog, or follow us on social media channels such as X (@Ginkgo and @ConcentricByGBW), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks) or LinkedIn.
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 capabilities and potential success of the acquisition 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) volatility in the price of Ginkgo's securities 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, and changes in laws and regulations affecting Ginkgo's business, (ii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, (iii) the risk of downturns in demand for products using synthetic biology, (iv) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (v) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vi) our ability to realize the expected benefits of merger and acquisition transactions, (vii) the outcome of any legal proceedings against Ginkgo, including as a result of recent acquisitions, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, and (x) the product development or commercialization success of our customers. 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 November 8, 2023 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.
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