FARGO, N.D. and BOSTON, Aug. 10, 2021 /PRNewswire/ -- Aldevron, a leading research to GMP biomanufacturer of plasmid DNA, mRNA, and proteins, and Ginkgo Bioworks, Inc. ("Ginkgo") today announced a manufacturing breakthrough driven by their strategic partnership. Aldevron has a successful history of manufacturing high-quality components that enable breakthroughs in the emerging field of genetic medicine. Aldevron is currently experiencing a period of rapid growth, including expanding its manufacturing facilities and adding new products to its growing catalog. Ginkgo, which recently announced a business combination with Soaring Eagle Acquisition Corp. (Nasdaq: SRNG), is building the leading platform for cell programming, enabling customers across industries to improve products and manufacturing processes for greater efficiency and sustainability.
Ginkgo and Aldevron have been working together in a partnership formed earlier this year to optimize production of mRNA vaccine components. The partnership has already resulted in significant breakthrough improvements in manufacturing yield of the vaccinia capping enzyme (VCE), a component that is often required to produce mRNA therapies and vaccines. Aldevron has the exclusive rights to the protocol conditions of the newly developed manufacturing process, which is over 10-times more efficient than the previous process.
"Aldevron's industry-leading products and services are the foundation for some of the most exciting advances in biological science today," said Jason Kelly, CEO of Ginkgo Bioworks. "This partnership represents a momentous growth opportunity for Aldevron as it continues to bolster its already expansive portfolio of products, and an exciting milestone for Ginkgo as we continue to expand our capabilities into the pharmaceutical ecosystem. Aldevron has been a great partner with us on improving VCE, which we see as a key ingredient to scaling mRNA production globally."
"I'm very excited about combining the additive strengths of Ginkgo Bioworks' development expertise and Aldevron's manufacturing horsepower to yield an optimized manufacturing method for vaccinia capping enzyme," said Tom Foti, President of Aldevron's Protein Business Unit. "Historically this enzyme has been difficult to produce, and we believe this yield breakthrough will accelerate mRNA therapeutic and vaccine development for manufacturing teams around the world."
Aldevron is a premier manufacturing partner in the global genetic medicine field. Founded in 1998 by Michael Chambers and John Ballantyne, the company provides critical nucleic acids and proteins used to make gene and cell therapies, DNA and RNA vaccines, and gene editing technologies. Aldevron's 700+ employees support thousands of scientists who are developing revolutionary treatments for millions of people.
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About Ginkgo Bioworks
Ginkgo is building a platform to enable customers to program cells as easily as we can program computers. The company's platform is enabling biotechnology applications across diverse markets, from food and agriculture to industrial chemicals to pharmaceuticals. Ginkgo is also actively supporting a number of COVID-19 response efforts, including K-12 pooled testing, vaccine manufacturing optimization and therapeutics discovery. In May 2021, Ginkgo announced a business combination with Soaring Eagle Acquisition Corp. (Nasdaq: SRNG), which, if completed, will result in Ginkgo, through a parent entity, Ginkgo Bioworks Holdings, Inc., becoming a public company. The transaction is expected to close in the third quarter of 2021, subject to regulatory and shareholder approvals, and other customary closing conditions. For more information, visit www.ginkgobioworks.com.
ADDITIONAL LEGAL INFORMATION
Forward-Looking Statements Legend
This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Ginkgo and Soaring Eagle Acquisition Corp. ("SRNG"), including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the services offered by Ginkgo and the markets in which it operates, and Ginkgo's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of SRNG's securities, (ii) the risk that the transaction may not be completed by SRNG's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SRNG, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the agreement and plan of merger by the shareholders of SRNG and Ginkgo, the satisfaction of the minimum trust account amount following redemptions by SRNG's public shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the agreement and plan of merger, (vi) the effect of the announcement or pendency of the transaction on Ginkgo business relationships, performance, and business generally, (vii) risks that the proposed transaction disrupts current plans of Ginkgo and potential difficulties in Ginkgo employee retention as a result of the proposed transaction, (viii) the outcome of any legal proceedings that may be instituted against Ginkgo or against SRNG related to the agreement and plan of merger or the proposed transaction, (ix) the ability to maintain the listing of SRNG's securities on Nasdaq, (x) volatility in the price of SRNG's securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo plans to operate, variations in performance across competitors, changes in laws and regulations affecting Ginkgo's business and changes in the combined capital structure, (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities, and (xii) the risk of downturns in demand for products using synthetic biology. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of SRNG's proxy statement/prospectus relating to the transaction, and in SRNG's other filings with the Securities and Exchange Commission (the "SEC"). SRNG and Ginkgo caution that the foregoing list of factors is not exclusive. SRNG and Ginkgo caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither SRNG nor Ginkgo undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Additional Information and Where to Find It
This document relates to a proposed transaction between Ginkgo and SRNG. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the proposed transaction, SRNG filed a registration statement on Form S-4/A with the SEC on August 3, 2021, which included a proxy statement of SRNG and a prospectus of SRNG. The definitive proxy statement/prospectus will be sent to all SRNG shareholders as of the record date to be established for voting on the proposed business combination and Ginkgo stockholders. SRNG also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of SRNG and Ginkgo are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.
Investors and security holders may obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by SRNG through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by SRNG may be obtained free of charge by written request to SRNG at 955 Fifth Avenue, New York, NY, 10075, Attention: Eli Baker, Chief Financial Officer, (310) 209-7280.
Participants in Solicitation
SRNG's and Ginkgo and their respective directors and officers may be deemed to be participants in the solicitation of proxies from SRNG's stockholders in connection with the proposed transaction. Information about SRNG's directors and executive officers and their ownership of SRNG's securities is set forth in SRNG's filings with the SEC. To the extent that holdings of SRNG's securities have changed since the amounts printed in SRNG's proxy statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph.
SOURCE Ginkgo Bioworks