NORTHUMBERLAND, England and BOSTON - Prozomix, a UK-based biotech company, and Ginkgo Bioworks, a US-based cell programming company, have announced a partnership aimed at advancing enzyme development for the manufacture of active pharmaceutical ingredients (APIs).
The collaboration, unveiled today, focuses on combining Ginkgo's artificial intelligence/machine learning (AI/ML) capabilities with Prozomix's extensive enzyme sequence data to produce next-generation enzyme plates for API manufacturing.
This partnership also signifies Prozomix's incorporation into the Ginkgo Technology Network, a consortium of technology partners striving to enhance innovation in customer research and development (R&D) programs. As part of this ecosystem, Ginkgo's customers will now have access to Prozomix's scalable contract manufacturing services.
The pharmaceutical industry has been moving towards the use of biocatalysts in API manufacturing, driven by the need for more sustainable supply chains and reduced costs. Prozomix and Ginkgo's joint effort will utilize AI models informed by enzyme sequences from Prozomix's libraries and Ginkgo's metagenomic database to discover novel enzymes. These enzymes will then be used to create new enzyme plates that offer greater diversity and performance, with the potential to catalyze reactions previously unattainable with traditional plates.
The new enzyme plates developed through this collaboration will be made available to pharmaceutical process chemistry groups, with the stipulation that screening data will be shared with Ginkgo, aiding in the continuous refinement of their AI/ML models.
Simon J. Charnock, CEO of Prozomix, expressed confidence that the partnership with Ginkgo will keep Prozomix at the forefront of biocatalyst provision. Cindy Chang, Senior Director of Business Development at Ginkgo Bioworks, highlighted the anticipated benefits of the partnership in meeting cost savings and sustainability goals in API manufacturing.
The announcement of this partnership is based on a press release statement and contains forward-looking statements about the potential capabilities and success of the collaboration. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.
InvestingPro Insights
As Prozomix and Ginkgo Bioworks embark on their innovative collaboration to enhance enzyme development for pharmaceuticals, it is illuminating to consider the financial health and market sentiment surrounding Ginkgo Bioworks. According to recent data from InvestingPro, Ginkgo Bioworks holds a market capitalization of approximately $2.1 billion. Despite a challenging period, reflected by a negative revenue growth of 47.36% over the last twelve months as of Q1 2023, the company maintains a strong gross profit margin of 78.52%. This suggests that while facing revenue headwinds, Ginkgo Bioworks retains the ability to control costs and maintain profitability on its products.
InvestingPro Tips indicate that Ginkgo Bioworks has more liquid assets than short-term obligations, a reassuring sign of financial stability. This is particularly relevant for investors considering the company's potential to weather financial storms and invest in long-term projects such as the partnership with Prozomix. However, analysts have expressed concern as they do not anticipate the company will be profitable this year, and the stock price has experienced a significant downturn over the past six months, trading near its 52-week low.
For readers looking to delve deeper into the financial nuances of Ginkgo Bioworks, there are additional InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/DNA. These tips may provide further clarity on the company's financial trajectory and investment potential. To enhance your research experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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