July 26, 2022

Ginkgo Bioworks buys Zymergen for $300 million

Boston-based Ginkgo Bioworks has agreed to buy Zymergen, a biotech firm whose value plunged four months after going public, in an all-stock deal, the companies said Monday.

The transaction values Zymergen at $300 million, a bargain given that the California company was valued at $3 billion in April 2021 when it raised half a billion dollars in an initial public offering.

Ginkgo Bioworks was a 2020 Tax Incentive Awardee. This program provides incentives to companies, of all sizes, looking to expand their efforts by creating new, long-term jobs in Massachusetts.