Cell engineering company Ginkgo Bioworks has acquired the troubled synthetic biology specialist Zymergen for a market capitalisation of $300 million. It will now look for “strategic alternatives” for the new drug discovery business once this is complete. Both boards have approved.

A registration statement has been filed with the US Securities & Exchange Commission (SEC) concerning the previously announced merger of two North American biotechs, Lygos and Flexible Solutions International (FSI). The two announced a definitive merger agreement in April to form “a leading sustainable specialty ingredient company for agricultural, industrial, and consumer applications”.