Ginkgo Bioworks Unit Zymergen Filed for Chapter 11 Bankruptcy

Ginkgo Bioworks unit Zymergen filed for Chapter 11 bankruptcy in Delaware. Neither Ginkgo nor other subsidiaries are filing for bankruptcy protection.

• Ginkgo ended the second quarter of 2023 with $1.1 billion of cash and cash equivalents
• Ginkgo entered into an asset purchase agreement with Zymergen as the stalking horse bidder to acquire exclusive rights to substantially all of Zymergen’s intellectual property assets and certain other assets
  • Ginkgo’s bid includes a $5 million cash component and assumption of up to $77 million of potential future liabilities, including a lease

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