Biotechnology start-up Ginkgo Bioworks said on Wednesday that it had raised a $350 million fund to more easily invest in spinout ventures that use its bio-engineering technology in a variety of industries that are just starting to use cutting edge biology. Dubbed the Ferment Fund, the investment vehicle will invest in two to three companies a year, Ginkgo Chief Executive Officer Jason Kelly said in an interview. Ginkgo hopes such investments will help increase the use of its technology.
European shares rose on Monday, after their steepest weekly loss in two months, as bids in defensive shares outweighed nervousness ahead of crucial U.S.-China trade talks and Brexit negotiations. The food and beverage sector was among the top gainers, while Bayer's 1.4% rise helped the healthcare index climb 0.9%. Bayer's gain, which also lifted peers in the chemical sector , was spurred by the company saying a pending U.S. lawsuit over claims related to glyphosate-based herbicide Roundup has been delayed until further notice.
A juror who was part of a panel that delivered an $80 million award against Bayer AG after finding that its glyphosate-based weed killer Roundup caused a man's cancer has urged the presiding judge to uphold the decision. A letter from the juror written on July 4 was posted to the court docket on Monday as part of legal filings by Bayer. The company accused the juror of bias and called on the judge to disregard the letter in his decision making.