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  "documentTitle": "Ginkgo Bioworks (DNA)",
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  "authorName": "Scorpion Capital",
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      "kind": "callout",
      "text": "Synlogic never would have spent $30MM with Ginkgo if Ginkgo didn't finance them; agreed that it was basically just a round-tripping arrangement",
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      "text": "I would say it's changed over time... We do most of the engineering of the strains and combining the parts into the clinical candidates and all that kind of stuff ourselves at Synlogic.",
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      "text": "We did not have $30 million to spend on it for sure without the financing that came with it.... What I would say, I think you're reading the agreement correctly in terms of what the deal was.",
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      "text": "We had that $30 million to spend. We want to spend it eventually, and we are... It's expensive to do work there without the prepaid component of it... We will probably have a higher level of scrutiny for what we do for sure.",
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      "text": "We had that $30 million to spend. We want to spend it eventually, and we are. I would go to them for certain things or at least consider them for certain things. It's expensive to do work there without the prepaid component of it; it would be hard to do everything there because it would get expensive pretty quick. But there would be some things, I can say for sure that we would consider doing work with them, and we are, and we will. Will that change when we get through all the money that we've pre-allocated? We will probably have a higher level of scrutiny for what we do for sure. — Current Synlogic executive",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Case study 1: Synlogic (cont'd): Synlogic executive indicated they never would have “spent” $30MM with Ginkgo if Ginkgo hadn’t financed them; agreed that it was basically just a round-tripping agreement; and was diplomatic but conveyed that they struggled to find strain engineering work that Ginkgo could do well, and that Synlogic still does most strain engineering in house.",
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