Biofacturing company Zymergen goes IPO at $ 500 million, with a pipeline of bio-materials based solutions for electronics, agriculture and consumer products
On 22nd April 2021, Zymergen Inc. (Zymergen; Emeryville, CA), a biofacturing company aiming to provide naturally occurring biopolymers-based solutions, went IPO at $500 million. Zymergen’s hyaline-based optical film can be used as flexible screens in electronic goods. The company aims to deliver natural compounds or biochemicals as solutions for agriculture (ex, pest management, biofertilizers), electronics (ex. Films, adhesives and coatings) and consumer care (ex. insect repellents, personal care). Together, these industries comprise a potential market of $1 trillion.
The IPO values Zymergen at $2.96 billion. The company sold 16.13 million shares, priced at $31 per share. JP Morgan and Goldman Sachs are the lead book running managers, with Lazard acting as the co-manager.
Zymergen uses artificial intelligence and machine learning platforms to screen bio-libraries identifying molecules with suitable properties. These molecules are then synthesized by microbes expressing optimized genetic codes. Robotic genomics matches microbial strains with genetic codes, achieving end-protein products or enzymes that can produce other biochemicals.
More information on their biofacturing platform and pipeline can be accessed here.
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