Ginkgo Bioworks to Acquire Mass. COVID-19 Testing Provider

 Acquisition to enable Ginkgo to bolster its growing biosecurity platform and provide expanded COVID-19 testing options to communities in Massachusetts and beyond

Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced the acquisition of Project Beacon COVID-19 LLC (Project Beacon), a Boston-based social benefit organization focused on helping to increase the capacity, availability, accessibility and affordability of COVID-19 testing. Under the terms of the deal, Ginkgo acquired Project Beacon's assets and will assume responsibility for Project Beacon's ongoing operations, providing COVID-19 monitoring tools to communities in Massachusetts and other areas.

"As we embark on a new wave of the pandemic and grapple with the spread of the Omicron variant, large-scale testing will be critical to help keep kids in schools and mitigate the spread of COVID-19," said Matt McKnight, Chief Commercial Officer at Ginkgo Bioworks, who is leading Ginkgo's public health and biosecurity efforts. "Integrating Project Beacon's capabilities with our Concentric by Ginkgo offering will enable us to further empower communities in Massachusetts and beyond with the tools they need to make important public health decisions.

Throughout the pandemic, Ginkgo has supported widespread COVID-19 monitoring through its biosecurity and public health initiative, Concentric by Ginkgo. Today, Concentric provides COVID-19 monitoring services for over 280,000 individuals per week through its programs in K-12 schools, correctional facilities, airports, and other community settings. Concentric conducted over 3 million tests in the second half of 2021.

Concentric and Project Beacon share a common goal of making COVID-19 testing accessible to the communities that need it the most. With this acquisition, Concentric will integrate Project Beacon's partner and customer relationships, digital platform, and several key personnel into its broader efforts.

https://finance.yahoo.com/news/ginkgo-bioworks-announces-acquisition-massachusetts-120000584.html