#2 Bayer, Ginkgo dub their JV JoynBio, focus in on nitrogen for grain crops
In Germany and Massachusetts, Bayer and Ginkgo Bioworks announced the official name of its joint venture, Joyn Bio. Bayer and Ginkgo founded Joyn Bio in September 2017 to bring advanced techniques in synthetic biology to agriculture to support the industry’s sustainability efforts, starting with reducing the environmental impact of nitrogen fertilizer.
Joyn Bio’s first effort in this arena is focused on improving microbes’ ability to provide cereal crops their nitrogen requirements, offering major benefits for sustainable agriculture by reducing the need for additional chemical fertilizers.
In addition to the initial USD $100 million Series A investment by Bayer, Ginkgo, and Viking Global Investors LP, Ginkgo is providing access to its organism design technology, laboratory, and office spaces, as well as outfitting a new facility specifically for Joyn Bio. Bayer is providing exclusive access to its own archive of microbial strains and the necessary development intelligence for the application of microbes onto seeds in agriculture.