[Special Stock] Access Bio and Ginkgo Bio to List at 20 Trillion Won... Expected Strengthening of Cooperation and Investment in COVID-19 Diagnostic Kits

[Asia Economy Reporter Yoo Hyun-seok] Access Bio is showing strong performance. It appears that the news of Ginko Bioworks, a US bioengineering company regarded as a pioneer in the field of synthetic biology, going public on the US Nasdaq market through a SPAC merger has influenced the stock price. Ginko Bioworks holds convertible bonds of Access Bio.

As of 9:55 AM on the 13th, Access Bio was trading at 29,500 KRW, up 14.79% (3,800 KRW) compared to the previous trading day.

According to industry sources, Ginko Bioworks’ expected market capitalization is $17.5 billion (approximately 19.68 trillion KRW). This is considered the largest case of a SPAC merger listing on Nasdaq.

Ginko Bioworks is a bio venture founded in 2009 by a research team from the Massachusetts Institute of Technology (MIT). It designs and produces microorganisms according to customer needs. The company has built facilities to enable low-cost production and is expanding its scope beyond microorganisms to animal cell engineering and the pharmaceutical sector. It also signed a supply contract with Moderna for key raw materials needed to manufacture COVID-19 messenger RNA (mRNA) vaccines.

Along with raising investment, Access Bio also signed a supply contract for COVID-19 antigen diagnostic kits with Ginko Bioworks. Through this contract, Ginko has secured the right to obtain 10 million antigen diagnostic kits from Access Bio over the next nine months. According to the put option clause in the convertible bond issuance, if Access Bio fails to meet the product supply requirements, Ginko can demand to purchase the remaining bond volume from Access Bio at an amount guaranteed with a 2% IRR. If Ginko Bioworks raises funds, it is expected to help expand Access Bio’s business opportunities.

This content was produced with the assistance of AI translation services.