DFC approves $1.1bn loan to Ginkgo Bioworks to boost COVID-19 fight
The US International Development Finance Corporation (DFC) has approved a loan of up to $1.1 billion for Boston-based biotech company Ginkgo Bioworks.
The financing will aid in the expansion of its commercial biosecurity business at a global scale that will offer critical COVID-19 testing capacity and vaccine supplies. The loan to Ginkgo will help the US response and recovery to the COVID-19 pandemic by facilitating the mass production of key raw materials for vaccines and the deployment of significant testing capacity.
Once the expansion is complete, Ginkgo will have the capacity to produce mRNA enzymes for vaccines and plasmid DNA for vaccine development that could lead to over 300 million available vaccine doses. Additionally, the expansion would enable Ginkgo to analyze up to 25 million tests per month in aggregate at its centralized facilities and 600,000 tests per month at each additional location.
Testing will focus on four key areas ranging from large, centralized testing facilities using next-generation sequencing to “at-home” rapid antigen testing kits and allow Ginkgo to support an aggregate capacity of up to 50 million tests per month.
