US Government Loans $1.1 Billion to Ginkgo Bioworks

The US government agreed on Thursday morning to loan privately-held biotechnology company Ginkgo Bioworks $1.1 billion for COVID-19 testing and the production of raw materials for therapies that could help address future pandemics.

The US government agreed on Thursday morning to loan privately-held biotechnology company Ginkgo Bioworks $1.1 billion for COVID-19 testing and the production of raw materials for therapies that could help address future pandemics.

In a statement, the company said it would use the loan from the US International Development Finance for its ongoing COVID-19 programs and to retain its infrastructure for any future pandemic.

“Because we haven’t faced a global pandemic in 100 years, we haven’t had a global biosecurity infrastructure,” Ginkgo Chief Executive Officer Jason Kelly said during an interview with Forbes. “What excites me about this loan is that we can help to build it,” he added.

Boston-based Ginkgo, which is backed by Bill Gates’ private investment company Cascade Investment and hedge fund Viking Global, has worked on projects including helping optimize a piece of the manufacturing process of Moderna’s messenger RNA vaccine and making COVID-19 tests all around the United States.


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