Capital madly blesses the synthetic biology track: players gather, who is the leader?

Frontier technology has always been the target of the capital market, and synthetic biology is one of them

Not long ago, the application of Yi Kelai Biotechnology to be listed on the Science and Technology Innovation Board was accepted by the Shanghai Stock Exchange, which caused a heated discussion in the market, and also brought synthetic biology into people's field of vision again

Regarding synthetic biology, its legends have been circulating in the rivers and lakes, "the creator", "subverting the traditional industry", "the third biotechnology revolution".

So, why does the synthetic biology track attract the crazy blessing of capital, and what are the "subversive" technological advantages? In addition to Yi Kelai Biology, which other synthetic biology players in China deserve attention?

The synthetic biology track of the investment and financing blowout

The synthetic biology track of the investment and financing blowout

In recent years, cutting-edge technologies such as PROTAC, cell gene therapy, and ADC drugs have not only been highly sought after by pharmaceutical companies, but also started a round of investment and financing boom with the influx of capital

In addition, synthetic biology, which is regarded as the "third biotechnology revolution", has also staged a blowout of investment and financing with the support of capital with its huge potential for development

In addition, synthetic biology, which is regarded as the "third biotechnology revolution", has also staged a blowout of investment and financing with the support of capital with its huge potential for development

In 2018, a record amount of financing was set at about $2.

According to Synbiobeta data, the total financing of synthetic biology in 2020 will reach 7.

In 2020, synthetic biology received a total of $7.

domestic side

In 2018, it broke out, reaching 2.

The investment and financing blowout and the high industry prosperity comprehensively reflect that the synthetic biology track has a good market prospect

The investment and financing blowout and the high industry prosperity comprehensively reflect that the synthetic biology track has a good market prospect

It is expected to reach US$18.

According to data from Zhiyan Consulting, China's synthetic biology market will be about US$6.

In 2021, China's synthetic biology market size will be approximately US$6.

Extremely "disruptive" technological advantages

Extremely "disruptive" technological advantages

So, what is the underlying logic behind the investment and financing blowout in the synthetic biology track?

In fact, the answer is not hard to guess
.
Whether it is the crazy blessing of capital or the broad market prospects, the reason is that synthetic biology has unparalleled and extremely "subversive" technological advantages
.

Whether it is the crazy blessing of capital or the broad market prospects, the reason is that synthetic biology has unparalleled and extremely "subversive" technological advantages
.

The background of the birth of synthetic biology lies in the traditional industrial manufacturing industry based on fossil resources, which has brought serious environmental pollution problems while benefiting mankind.
Technological change is imperative
.
Based on this, synthetic biology, which can empower traditional industrial manufacturing industries and solve environmental problems, emerges as the times require
.

Based on this, synthetic biology, which can empower traditional industrial manufacturing industries and solve environmental problems, emerges as the times require
.

From the definition point of view, synthetic biology in a broad sense refers to the genetic design and modification of cells or living organisms by constructing biological functional elements, devices and systems, so that they have biological functions that meet human needs, and even create new biological systems.

.
Simply put, it is to understand life by building biological systems, and to serve human beings by creating biological systems
.

Simply put, it is to understand life by building biological systems, and to serve human beings by creating biological systems
.

Giving new functions to organisms by designing and transforming biological systems is the purpose of synthetic biology, and it also reflects the "subversive" value of synthetic biology: it not only breaks the boundaries between "non-life" and "life", but also realizes Life science is a revolution from understanding life to creating life
.

In a narrow sense, synthetic biology refers to the use of renewable biomass resources as raw materials to produce various products
.

In a narrow sense, synthetic biology refers to the use of renewable biomass resources as raw materials to produce various products
.

For example, Yi Kelai Biotechnology has widely applied synthetic biology technology to many fields such as biomedicine, green agriculture, nutrition and health, and has realized the industrialization of more than 10 products; way to engage in bio-based products such as amino acid and vitamin products
.

One of the ultimate goals of synthetic biology is to use synthetic biology technological processes to replace traditional chemical manufacturing
.
Compared with traditional chemical synthesis, the technical advantages of synthetic biology are mainly reflected in the following aspects:

One of the ultimate goals of synthetic biology is to use synthetic biology technological processes to replace traditional chemical manufacturing
.

First, degradable and renewable bio-based raw materials are used, and the advanced enzymatic reaction process path not only simplifies the process steps, improves the production efficiency, but also reduces the use of chemicals and carbon emissions in the production process, which is harmful to the environment.
friendly;

Second, the production process of synthetic biology technology is usually carried out at normal temperature and pressure, with simple conditions and high safety
.

With the huge development prospects shown, synthetic biology is regarded as the third biotechnology revolution after the two biotechnology revolutions of the DNA double helix structure and the human genome sequencing project.
It is obviously understandable
.

With the huge development prospects shown, synthetic biology is regarded as the third biotechnology revolution after the two biotechnology revolutions of the DNA double helix structure and the human genome sequencing project.
It is obviously understandable
.

At present, synthetic biology, which combines high-quality, high-yield, low-cost, green environmental protection and many other advantages, has become a cutting-edge research direction in the field of biology today, and is widely used in medicine, industry, energy, agriculture, consumer goods, food and beverages, etc.
multiple fields
.

Among them, according to CB Insights data, in 2019, medical and health care accounted for the highest proportion of the global synthetic biology industry market segment, reaching 39%, followed by scientific research (28%) and industrial chemicals (21%)
.

▲Synthetic biology application example data source in various fields: company official website, CITIC Construction Investment

Players gather, who leads the pack?

Players gather, who leads the pack?

Such a promising cutting-edge technology naturally attracts many companies to deploy
.

At present, domestic companies engaged in synthetic biology-related business can be described as gathering players
.
Especially for product application companies, the products cover a wide range of fields such as medicine, chemical industry, industry and food
.

From the perspective of the industry chain, the upstream includes companies that support DNA design and synthesis and other underlying technologies and applications, such as BGI (high-throughput sequencing), Boya Jiyin (gene editing therapy), Hongxun Technology (DNA synthesis), Enhe Biotechnology (covering enzyme engineering, strain engineering and fermentation process "full chain production"), etc.
;

Midstream and downstream companies involved in synthetic biology process design, product development and production in different application fields, including:

Midstream and downstream companies involved in synthetic biology process design, product development and production in different application fields, including:

Pharmaceutical field: Huadong Medicine (industrial microorganism business), Zhejiang Zhenyuan (amino acids, functional fatty acids), Angel yeast (traditional yeast; yeast derivatives: yeast extract), Trinity Bio (under Kelun Pharmaceutical), Yi Kelai biological (sitagliptin intermediate, S-cyanohydrin, NMN raw material);

Medical field:

Chemical field: Kasai Bio (long-chain dibasic acid, bio-based glutaric acid), Huaheng Bio (alanine series products, D-calcium pantothenate), Xinri Hengli (lauric acid), COFCO Technology (PHA) ), Dongfang Shenghong (polyester chemical fiber, phthalic acid);

Chemical field:

Industrial field: VTR (enzyme for feed, enzyme for food), Weilan Bio (enzyme preparation, microecological preparation), Xinhua Yang (textile enzyme, food enzyme);

Industrial field:

Food field: Jiabiyou (fatty acid series, carotenoid series), Yixi Bio (breast milk oligosaccharide),
etc.

Food field:

Specifically, although companies engaged in synthetic biology-related businesses involve many fields, the leading companies also have the competitive advantage of "leading the way" in their respective fields
.

For example, BGI's synthesis business mainly covers the upstream of the industry chain, that is, it provides key technical and product support for the synthetic biology industry.
Its business mainly includes gene synthesis, Oligo synthesis, etc.
, and has seven synthesis bases in China.
Synthesis technology and innovative genome in vitro splicing technology occupies a leading position in the synthesis industry.
In 2021, the multi-omics big data service and synthesis business will achieve revenue of 642 million yuan
.

In 2021, BGI's multi-omics big data service and synthesis business will achieve revenue of 642 million yuan
.

Huadong Medicine: In order to keep up with the development trend of new technologies in synthetic biology, by building an industrial microbiology industry cluster and opening up a new blue ocean market, in 2021, the industrial microbiology sector will achieve a total revenue of 418 million yuan, a year-on-year increase of 69.
2%, and create 363 R&D personnel technical team
.

Huadong Medicine: In 2021, the industrial microbiology sector will achieve a total revenue of 418 million yuan

Yi Kelai Bio: a synthetic biology platform enterprise, currently through its self-built synthetic biology technology innovation platform, it has successfully realized the industrialization of more than 10 products, and its product pipeline covers many fields such as biomedicine, green agriculture, nutrition and health
.
In addition, the company has nearly 20 product pipelines under development, which are in the experimental, pilot or pilot stage
.

Yi Kelai Bio: The company still has nearly 20 product pipelines under development, which are in the experimental, pilot or pilot stage
.

According to the prospectus, in the past three years, Yi Kelai Bio has achieved total revenue of 138 million yuan, 217 million yuan, and 331 million yuan, respectively, and net profits attributable to the parent were -10.
1 million yuan, 15.
95 million yuan, and 31.
08 million yuan
.

Huaheng Bio: With synthetic biotechnology as the core, it has the technology of fermentation and enzymatic production of alanine series products (L-alanine, β-alanine and DL-alanine, etc.
) One of the largest manufacturers of alanine series products
.

Huaheng Bio: is one of the largest manufacturers of alanine series products in the world
.

Previously, Huaheng Bio has constructed a microbial cell factory for anaerobic fermentation of renewable glucose as raw material to produce L-alanine
.
In 2019, the average selling price of L-alanine through this biosynthesis was 15,800 yuan/ton, while the average selling price of traditional enzymatic production was 20,300 yuan/ton.
It can be seen that the production cost of synthetic biology is lower.
, the advantage is obvious
.

It can be seen that the production cost of the synthetic biology process is lower and the advantages are significant
.

In 2021, Huaheng Bio will achieve a total revenue of 954 million yuan, a year-on-year increase of 95.
81%, and a net profit attributable to the parent of 168 million yuan, a year-on-year increase of 38.
92%; in the first quarter of 2022, the total revenue will be 270 million yuan, a year-on-year increase of 63.
8%.
Due to the increase in sales of amino acid products, the net profit attributable to the parent company was 55 million, a year-on-year increase of 77.
7%
.

Bloomage Bio: At present, all the links of platform-talent-technology-transformation required by synthetic biology have been completed, and multiple technology platforms have been built, including functional sugar synthesis biotechnology platform, functional protein and amino acid synthesis technology platform, natural products Synthetic technology platform, high-efficiency protein expression and enzyme engineering technology platform,
etc.
As of 2021, the company has carried out 99 R&D projects on raw materials and synthetic biology
.

Bloomage Bio: As of 2021, the company has carried out 99 R&D projects on raw materials and synthetic biology
.

In addition, according to Guo Xueping, chief scientist of Bloomage Bio, the yield of hyaluronic acid produced by microbial fermentation technology is 16-17 g/L, while in 2020, the synthetic biology technology adopted by Bloomage Biolabs will increase the yield to 74 g/L.
, which shows that the use of synthetic biology to produce cosmetic raw materials can greatly improve the advantages of saving resources and high production efficiency
.

Cathay Bio: The world's representative platform-based bio-manufacturing company based on synthetic biology, with a prominent position in the competition of bio-based long-chain dibasic acids, bio-based pentamethylene diamine and bio-based polyamide industries
.
In 2021, the company's synthetic biological material business will achieve revenue of 2.
154 billion yuan, of which long-chain dibasic acid series and bio-based polyamide series will achieve revenue of 1.
996 billion yuan and 153 million yuan respectively
.

Casey Bio:

Blue Bio: mainly engaged in the research and development, production and sales of enzyme preparations, micro-ecological preparations and animal health products.
It has two laboratories, the Blueside Environmental Microbiology Laboratory and the Synthetic Biotechnology Innovation Laboratory, with 264 full-time R&D personnel
.

Azure Creatures:

Jiabiyou: In 2021, the company will focus on building a "one main and two wings" business structure ("one main" refers to the field of human nutrition, "two wings" refers to the field of animal nutrition, personal care and cosmetics), with synthetic biology as the technical chassis, Focusing on the resource of microorganisms, it has laid out the big health industry, and completed the construction of a synthetic biology laboratory, providing basic support for the subsequent formation of synthetic biology platform technology
.

Jiabiyou:

【References】

【Reference】【Reference】

1.
"Bloomage Bio-688363- Hyaluronic Acid Whole Industry Chain Leader, Profitable Margin Improvement", Shanghai Securities, 2022-06-27

1.
"Bloomage Bio-688363- Hyaluronic Acid Whole Industry Chain Leader, Profitable Margin Improvement", Shanghai Securities, 2022-06-27

2.
"In-depth Report on Synthetic Biology Industry: Synthetic Biology Rides the Trend, Overturns Tradition and Leads the Future", CITIC Securities, 2022-03-21

2.
"In-depth Report on Synthetic Biology Industry: Synthetic Biology Rides the Trend, Overturns Tradition and Leads the Future", CITIC Securities, 2022-03-21

3.
"Huaheng Bio-688639-Alanine leads the world in the world, and synthetic biology has a bright future", Huatai Securities, 2022-03-09

3.
"Huaheng Bio-688639-Alanine leads the world in the world, and synthetic biology has a bright future", Huatai Securities, 2022-03-09

4.
"Topics on Cosmetics Raw Materials in the Beauty and Commercial Industry: Raw Material Rivers and Lakes, Who Controls the Ups and Downs", CITIC Securities, 2022-05-10

4.
"Topics on Cosmetics Raw Materials in the Beauty and Commercial Industry: Raw Material Rivers and Lakes, Who Controls the Ups and Downs", CITIC Securities, 2022-05-10

5.
Each company's financial reports, announcements, and prospectuses

5.
Each company's financial reports, announcements, and prospectuses