UPDATED: Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation
Ginkgo Bioworks execs always thought big. But today should redefine just how big an upstart biotech player can dream.
In the largest SPAC deal to clear the hurdles to NYSE, the biotech that envisioned everything from remaking synthetic meat to a whole new approach to developing drugs has joined forces with one of the biggest disruptors in biotech to slam the Richter scale on dealmaking.
Soon after becoming the darling of the VC crew and clearing the bar on a $4 billion valuation, Ginkgo — a synthetic biotech player out to reprogram cells with industrial efficiency — has now struck a deal to go public in the latest leviathan SPAC that sets its pre-money valuation at $15 billion. In one swift vault, Ginkgo will combine with Harry Sloan’s Soaring Eagle Acquisition Corp. and leap into the public markets.
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