Elanco spins out microbiome platform into BiomEdit with $40M funding; tenders $406M of 2023 notes

Elanco Animal Health Inc

Elanco launches BiomEdit, a microbiome innovation company, with $40M Series A from Viking Global and Anterra Capital.
Elanco contributes IP and pipeline to BiomEdit; retains non-voting equity; combined Elanco/Ginkgo ownership ~40% fully diluted.
Tender offer: $406M (54.19%) of 4.272% notes due 2023 tendered; cap raised to $406M; early acceptance at $1,035 per $1,000.
BiomEdit to leverage Ginkgo's cell programming platform for probiotics, bioactives, and engineered microbial medicines.
Aaron Schacht named CEO of BiomEdit; enters consulting agreement with Elanco at $250/hour for advisory role.

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