Boston biotech Ginkgo Bioworks has raised $265m in a round that gives the firm, incubated at and backed by the Y Combinator, a value of $1.3bn, according to data from Pitchbook. The firm is developing an oral drug for treating Alzheimer’s disease, which it hopes will be available within five years. Earlier this year, the company partnered with Bayer to form a new venture that aims to optimise farming and fertiliser, and raised $100m in September.
Boston biotech Ginkgo Bioworks has raised $265m in a round that gives the firm, incubated at and backed by the Y Combinator, a value of $1.3bn, according to data from Pitchbook. Ginkgo, which uses microbugs to create perfumes and food, is one of the hottest properties in its field, and was valued at $450m in June 2016. Earlier this year, the company partnered with Bayer to form a new venture that aims to optimise farming and fertiliser, and raised $100m in September.