Biogen, Ginkgo Bioworks In Gene Therapy Collaboration Worth $120M

Biogen Inc BIIB and Ginkgo Bioworks have entered into a gene therapy collaboration to develop a next-generation adeno-associated virus (AAV)-based vectors production platform.
Under the terms of the agreement, Ginkgo will utilize its cell programming platform and capabilities to enhance the AAV production titers of Biogen's gene therapy manufacturing processes.
Ginkgo will receive an upfront payment of $5 million and is eligible for milestone payments up to an additional $115 million.
Earlier this month, Ginkgo Bioworks announced a SPAC deal with Soaring Eagle Acquisition Corp SRNG that values the company at a pre-money equity value of $15 billion.
Price Action: BIIB shares closed at $286.6 on Thursday.