Elanco and Ginkgo Bioworks Launch BiomEdit, a New Animal Health Company Leveraging Microbiome Technology
Summary
"We are always on the lookout for opportunities to accelerate our partners abilities to address massive challenges, such as antibiotic resistance in livestock," said Jason Kelly, CEO of Ginkgo. "In addition to the assets and intellectual property contributed by Elanco and Ginkgo, BiomEdit is launching with a targeted Series A funding raise of $40 million, with participation by Viking Global Investors and Anterra Capital. In exchange for their respective asset and intellectual property contributions, Elanco and Ginkgo are expected to retain approximately 40% combined proportional ownership of BiomEdit, on a fully-diluted basis, upon the completion of the Series A financing. These forward-looking statements generally are identified by the words "believe," "can," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national, or global political, economic, business, competitive, market, and regulatory conditions, including but not limited to the impact of disruptive innovations and advances in veterinary medical practices, animal health technologies and alternatives to animal-derived protein; whether the operational and strategic benefits of the transaction described herein can be achieved; and whether the uncertainty of announcing the separation initiative will have adverse impacts on the employees, customers and suppliers related to Elancos microbiome platform or its business generally.