Smiley face
Weather     Live Markets

Modulus Therapeutics, a Seattle-based cellular therapy company that spun out of the Allen Institute of Artificial Intelligence (AI2) Incubator, recently sold its cell therapy platform assets to the Boston biotech company Ginkgo Bioworks. The terms of the acquisition were not disclosed, but Ginkgo’s business development team has been acquiring several companies and assets in recent months. Modulus focused on enhancing genetic changes in natural killer (NK) cells, a type of immune cell used against auto-immune diseases, and created a platform for building libraries of unique cell therapy receptors from NK and T-cells.

Founded in 2020, Modulus has developed performance-enhancing genetic changes in NK cells, with the goal of creating more effective and safer medical therapies. Ginkgo plans to utilize the libraries of unique cell therapy receptors created by Modulus to further develop these technologies. Co-founder and CEO Max Darnell expressed pride in the functionality built into cell therapy candidates using custom immune receptors, and looks forward to seeing how Ginkgo’s scale can accelerate the adoption of these technologies. Modulus’ co-founder Bryce Daines, a bioinformatician and Chief Data Scientist, co-founded the company with Darnell after meeting as entrepreneurs-in-residence at AI2.

In 2021, Modulus raised $3.78 million in two seed investment rounds led by Madrona Venture Group, with participation from KdT Ventures, AI2, and AI2 Incubator. The recent acquisition by Ginkgo is solely of assets and does not involve Modulus employees. Some team members have already left the company as of February, and it is unclear whether Modulus is still operating. The deal with Ginkgo signifies a strategic move for both companies in the cellular therapy space, with Ginkgo acquiring Modulus’ innovative technology and expertise to further advance their research and development efforts.

Ginkgo Bioworks, a Boston-based biotech company, has been actively acquiring assets and companies in the field of cellular therapy. By purchasing Modulus’ cell therapy platform assets, Ginkgo aims to leverage the technology and expertise developed by Modulus to enhance their own research and development capabilities. The acquisition signifies a strategic move for Ginkgo as they seek to expand their presence in the rapidly growing field of cellular therapy, using Modulus’ innovative approach to genetically enhance NK cells for medical treatments.

The partnership between Modulus Therapeutics and Ginkgo Bioworks represents a significant advancement in the field of cellular therapy, particularly in the area of enhancing genetic changes in natural killer (NK) cells. Modulus’ platform for generating performance-enhancing genetic changes in NK cells, combined with Ginkgo’s resources and expertise, has the potential to revolutionize the development of medical therapies for auto-immune diseases. With the acquisition of Modulus’ assets, Ginkgo positions itself as a key player in the field of cellular therapy, further solidifying its commitment to advancing cutting-edge technologies for medical treatments.

Overall, the acquisition of Modulus Therapeutics’ cell therapy platform assets by Ginkgo Bioworks marks a significant milestone in the field of cellular therapy. By combining Modulus’ innovative technology for enhancing genetic changes in NK cells with Ginkgo’s resources and expertise, the two companies aim to accelerate the development of more effective and safer medical therapies. This strategic partnership represents a major step forward in the advancement of cellular therapy research and development, with the potential to revolutionize treatment options for a wide range of diseases.

Share.
© 2024 Globe Echo. All Rights Reserved.