Ginkgo signs R&D pact with Sumitomo

Ginkgo Bioworks has agreed to use its synthetic biology capabilities to improve the production of an unidentified biobased chemical from Sumitomo Chemical and make other Sumitomo products. An earlier agreement between Sumitomo and Zymergen, a Ginkgo competitor, yielded a biobased film for use in displays and touch screens. Both Sumitomo partners are riding high with investors at the moment. Zymergen made a successful initial public offering in May, while Ginkgo is in the process of going public by merging with a special purpose acquisition company, or SPAC.