Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares are trading higher Wednesday. The company was granted a four-year contract by the Defense Advanced Research Projects Agency (DARPA) worth up to $18 million.
What To Know: The purpose of the contract is to rethink how to manufacture complex therapeutic proteins. Ginkgo is tasked with creating advances in on-demand protein manufacturing by utilizing Cell-Free Protein Synthesis (CFPS).
“There is growing recognition that pharmaceutical supply chains are at risk. One way to meet this challenge is distributed manufacturing at the point of care,” said Jason Kelly, CEO and co-founder of Ginkgo Bioworks.
“Imagine a future where drugs, including complex biologics, are produced locally or in a widely distributed manner on-demand. We’re very excited to be working with DARPA to make that future a reality.”
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DNA Price Action: Shares of DNA were up 4.68% at $2.46 at the time of publication, according to Benzinga Pro.
Image by Konstantin Kolosov from Pixabay
