Ginkgo Bioworks (NYSE: DNA) stock jumped during intraday trading after the company partnered with Syngenta Crop Protection to fast-track biological solution development.
Syngenta Crop Protection, a leader in agricultural innovation, and Ginkgo Bioworks (NYSE: DNA), known for its cell programming and biosecurity platform, have announced a new collaboration. This partnership aims to speed up the launch of a new biological solution. The two companies have previously worked together on next-generation seed technology, paving the way for this new venture.
The new collaboration focuses on developing and optimizing a microbial strain to achieve productivity targets for a key secondary metabolite in Syngenta’s Biologicals pipeline. If successful, this molecule will pioneer a biological solution, significantly accelerating the timeline of Syngenta to introduce its latest biological solution to the market through cost-effective, large-scale production of the targeted metabolite.
Ginkgo Bioworks plans to leverage its capabilities in Ag Biologicals to calculate theoretical performance and guide rational strain engineering strategies. The goal is to develop a robust microbial strain that aligns with the productivity goals of Syngenta. Ginkgo will utilize its extensive biological knowledge and machine learning approaches to analyze multiple complex data sources, diagnose strain performance limitations, and discover new biological features.
Magalie Guilhabert, Head of Ag Biologicals at Ginkgo Bioworks, said:
“We are so excited to expand our relationship with Syngenta. We’ve built a successful relationship from our work together on plant traits and now look forward to doing the same with ag biologicals. Ginkgo is proud to put our excellent assets and experience against some of our customer’s toughest challenges. We’ll work to achieve productivity levels to realize commercial viability for Syngenta’s innovative ag biologicals product launch.”
Ginkgo Bioworks (NYSE: DNA) Stock Price Action
DNA stock surged 20.64% on Tuesday, closing at $0.35, marking a 13.42% increase for the week. The trading volume was 103,593,110 shares, significantly higher than the average daily volume of 61.45 million.
