Boston-based biotech start-up Ginkgo Bioworks is launching a new venture to speed the search for lab-based proteins, like fake burgers, and has received backing from a billionaire-funded investment group led by Bill Gates.
It's the success of Impossible Foods that drove Ginkgo to begin planning Motif Ingredients in mid-2017, according to Ginkgo co-founder and CEO Jason Kelly.
Silicon Valley-based Impossible Foods genetically engineers heme, a protein that makes the vegetarian-friendly burger taste like meat. The company, started by a Stanford University scientist,for its protein, but its plan to sell uncooked Impossible Burgers in retail grocery stores requires a separate FDA color additive review, which is still pending ahead of a planned retail launch this year.
That's where Motif thinks it can play a role as the plant-based protein market matures. The Boston-based start-up will help food companies — both large and small — find the next big thing in laboratory-based food by developing the key ingredients and leaving the rest of the work to the food companies, Kelly told CNBC.
Gates is an investor in several lab-based food companies, including Impossible Foods, Beyond Meat and Memphis Meats. Earlier this month, Breakthrough Energy Ventures led a funding round for Chicago-based Sustainable Bioproducts, which is working with a fermentation process to grow edible protein as a replacement for animal-based meats.
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