On October 3, 2023, Zymergen, Subsidiary Of Ginkgo Bioworks And Certain Of Its Subsidiaries, Filed Voluntary Petitions For Relief Under Chapter 11 Of The United States Bankruptcy Code
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Zymergen, a subsidiary of Ginkgo Bioworks, has filed for Chapter 11 bankruptcy. Ginkgo, which is not filing for bankruptcy, ended Q2 2023 with $1.1 billion in cash and remains well-capitalized. Ginkgo has also entered into an asset purchase agreement with Zymergen to acquire exclusive rights to most of Zymergen's intellectual property assets and certain other assets.
October 03, 2023 | 10:59 am
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Ginkgo Bioworks, listed as DNA, is not directly affected by the bankruptcy of its subsidiary Zymergen. It remains well-capitalized and plans to acquire most of Zymergen's intellectual property assets.
While Zymergen's bankruptcy might initially seem like a negative event, Ginkgo is not directly affected and remains well-capitalized. Furthermore, Ginkgo's plan to acquire most of Zymergen's intellectual property assets could potentially strengthen its position in the long term.
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