Ginkgo Bioworks receives $9M milestone payment from Merck partnership

Ginkgo Bioworks (DNA) completed the first milestone of a partnership with Merck (MRK) focused on improving biologic manufacturing. As part of this milestone completion, Ginkgo will receive a research milestone payment of $9M in cash. The two companies will now move on to the second stage of this partnership, which will be focused on continuing to improve the production process.