Modulus Therapeutics, a Seattle-based cellular therapy company, has sold its cell therapy platform assets to Boston biotech company Ginkgo Bioworks. The terms of the acquisition were not disclosed, but Ginkgo has been actively acquiring companies and assets in recent months. Modulus focused on making genetic changes in natural killer (NK) cells for use against auto-immune diseases, creating a platform to build libraries of unique cell therapy receptors from NK and T-cells. Ginkgo hopes to leverage these libraries to develop more effective and safer medical therapies.
Founded in 2020, Modulus was co-founded by CEO Max Darnell and Chief Data Scientist Bryce Daines, who met as entrepreneurs-in-residence at the Allen Institute of Artificial Intelligence (AI2). The company received investments totaling $3.78 million in 2021 from Madrona Venture Group and other investors. The acquisition by Ginkgo is limited to the assets of Modulus and does not include its employees. It is uncertain if Modulus is still operational, as some team members left the company in February.
Darnell expressed pride in the novel functionality of the cell therapy candidates developed by Modulus using custom immune receptors. With hundreds of new receptor designs, Ginkgo aims to accelerate the adoption of these technologies with its scale. This acquisition aligns with Ginkgo’s strategy of expanding its business and technological capabilities through partnerships and acquisitions. The company is optimistic about the potential of leveraging Modulus’s platform for developing new medical treatments.
Modulus’s focus on enhancing NK cells for therapeutic purposes aligns with the growing interest in utilizing these immune cells for treating various diseases. Ginkgo’s interest in acquiring Modulus’s assets underscores the potential value of the cell therapy platform developed by the Seattle-based company. The deal reflects the ongoing consolidation and collaboration within the biotech industry as companies seek to leverage each other’s expertise and technological advancements to accelerate innovation.
The acquisition of Modulus’s cell therapy platform by Ginkgo represents a significant milestone for both companies. Ginkgo’s expertise in biotechnology and business development, combined with Modulus’s innovative cell therapy technology, has the potential to lead to the development of breakthrough medical treatments. The partnership between the two companies highlights the importance of collaboration and knowledge-sharing in advancing the field of cellular therapy.
Overall, the acquisition of Modulus’s cell therapy assets by Ginkgo Bioworks signals a promising development in the biotech industry. By combining their respective strengths and resources, the companies are poised to make significant advancements in the field of cellular therapy. The deal underscores the potential of leveraging innovative technologies to address unmet medical needs and improve patient outcomes. As Ginkgo continues to expand its portfolio through strategic acquisitions, the acquisition of Modulus’s assets positions the company for further growth and innovation in the biotechnology sector.
