Ginkgo Bioworks, Carnegie Mellon University Secure $9.4 Mln To Build Devices For Disease Treatment

(RTTNews) - Ginkgo Bioworks Holdings, Inc. (DNA), Tuesday announced that the company along with Carnegie Mellon University has been awarded a contract of upto $9.4 million to develop bioelectronic cell-based devices aimed at diagnosing and treating hormone disorders.

The project, named Biointegrated Implantable Systems for Cell-based Sensing and Therapy, focuses on implantable bioelectronic devices that utilize engineered cells to produce therapeutic molecules on demand and/or to measure disease biomarkers in realtime.

Under the contract, the company will utilize its capabilities in mammalian cell engineering and induced pluripotent stem cell engineering to create cells that produce and deliver therapeutic molecules and/or monitor the disease status.

Currently, Ginkgo's stock is trading at $9.28, down 1.59 percent on the New York Stock Exchange.