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FAQ on BP/Synthetic Genomics Deal
Explain the deal between BP and Synthetic Genomics Inc.?
The initial phase of the BP/Synthetic Genomics deal will focus on identifying and describing the naturally occurring organisms and their natural biological functions that thrive in subsurface hydrocarbon formations, including petroleum, natural gas, coal, bitumen, shale, and carbon dioxide. Synthetic Genomics will utilize unique technologies including environmental genomics and multiplex microbial culturing techniques. The overarching goal is to explore and understand subsurface microbial processes. Such an understanding would enable hydrocarbon quality enhancement or increased production. BP and Synthetic Genomics will seek to jointly commercialize the bioconversion of subsurface hydrocarbons into cleaner energy products.
The second phase of the BP/Synthetic Genomics program will be a series of field pilot studies of the most promising bioconversion approaches.
What is the timeline for this deal?
We expect that the first two phases of R&D will be completed in three and a half years. The success of the pilot field studies will lead to the third phase of R&D that will encompass the commercialization of the relevant technologies.
How much is BP’s investment in Synthetic Genomics? What percentage of shares will BP hold?
Financial details are not being disclosed.
What is environmental DNA sequencing and analysis and how will it be used in the BP/Synthetic Genomics deal?
Environmental DNA sequencing enables scientists to study, with great precision, the uncharacterized microbial communities populating virtually every niche of the biosphere. These genomic-driven molecular tools are providing new ways to evaluate microbial metabolism, ecology, evolution, biochemistry, physiology and biodiversity. Efficient DNA sequencing is a complex process that requires meticulous preparation and organization as well as cutting-edge equipment, from template robots to high-throughput sequencing machines. Synthetic Genomics supports sequencing at the J. Craig Venter Institute’s Joint Technology Center, one of the world's leading DNA sequencing organizations. Synthetic Genomics is employing a suite of novel and public domain computational tools to help identify and annotate genes, assemble sequences and compare closely related genomes. The bioinformatics team collects, classifies, stores and analyzes all information that can be harnessed to produce clean and renewable energy.
BP and Synthetic Genomics will work together to identify and sample appropriate subsurface hydrocarbon substrates. Synthetic Genomics will recover DNA from the acquired samples and apply unique environmental sequencing methods. The DNA sequence will provide a vast information base on complex microbial communities independent of culturing microbes.
What is microbial cell culturing and how will it be used in the BP/Synthetic Genomics deal?
Microbial cell culturing is the scientific method of growing various microorganisms in the laboratory. It is estimated that less than one percent of the microbial biodiversity has been cultivated in the laboratory. To gain access to novel uncultured microorganisms, Synthetic Genomics has developed innovative microbial cultivation technologies and monitoring approaches.
Synthetic Genomics will apply multiplex culturing methods to the BP/Synthetic Genomics samples. The combination of environmental sequencing and microbial cell culturing will enable the fundamental understanding of the dominant metabolic and chemical processes taking place in the subsurface hydrocarbon environments.
What is Synthetic Genomics Inc.?
Synthetic Genomic Inc. is a privately-held company founded in 2005 dedicated to developing and commercializing synthetic genomic and naturally occurring processes for the production of clean, renewable alternative energy solutions. Recent advances in the field of synthetic genomics present seemingly limitless applications that could revolutionize production of energy, chemicals and pharmaceuticals and enable carbon sequestration and environmental remediation.
Who are the leaders at Synthetic Genomics?
Synthetic Genomics founders and lead researchers are world-renowned genomics pioneers. Entrepreneurial founder and CEO, J. Craig Venter, Ph.D., has assembled a stellar scientific team that includes Nobel Laureate Hamilton Smith, M.D., preeminent scientist Clyde Hutchison, Ph.D., and leading scientists in molecular biology, biochemistry, bioinformatics and fermentation process development. Synthetic Genomics leadership team also includes Aristides Patrinos, Ph.D., president of Synthetic Genomics, who was instrumental in advancing the scientific and policy framework underpinning key governmental energy and environmental initiatives while serving at the U.S. Department of Energy.
Who are Synthetic Genomics’ board members?
Juan Enriquez – Co-Founder and Chief Business Officer of Synthetic Genomics Inc.; Chairman and CEO of Biotechonomy LLC
Alfonso Romo - Chairman and CEO of Pulsar International; CEO of Desarrollo Consolidado de Negocios
Steve Jurvetson - Managing Director of Draper Fisher Jurvetson
David Kiernan, M.D., J.D. – Co-Founder of Synthetic Genomics Inc.; Senior Litigation Partner at Williams & Connolly
Barry Schuler – Chairman and CEO of Raydiance, Inc.; Managing Director of Draper Fisher Jurvetson Growth Fund
Hamilton O. Smith, M.D. – Co-Founder and Co-Chief Scientific Officer of Synthetic Genomics Inc.; Scientific Director of the J. Craig Venter Institute
J. Craig Venter, Ph.D. – Board Chairman, Co-Founder and CEO of Synthetic Genomics Inc.; Founder and President of the J. Craig Venter Institute
Board Observer: Justin Adams – Director of Technology Strategy & Venturing at BP plc.
Board Secretary: Aristides A.N. Patrinos, Ph.D., President of Synthetic Genomics Inc.
Who are Synthetic Genomics’ investors?
Synthetic Genomics’ investors include its founders, BP, Biotechonomy Ventures; Draper Fischer Jurvetson; Desarrollo Consolidado de Negocios; and Meteor Group, LLC.
What is Synthetic Genomics’ relationship with the J. Craig Venter Institute?
Synthetic Genomics has a strong internal scientific team and also sponsors research at the J. Craig Venter Institute (JCVI). Synthetic Genomics’ scientific strength is built on the decades of research by Drs. Venter and Hamilton O. Smith. Synthetic Genomics’ in-house scientific expertise comprises leading researchers in molecular biology, biochemistry, bioinformatics, plant genomics and metabolic engineering. The JCVI is a not-for-profit basic science research institute with approximately 500 staff and scientists with expertise in human and evolutionary biology, genetics, bioinformatics, DNA sequencing, functional genomics, and genomic and environmental policy research.
What is Synthetic Genomics’ patent strategy? Does Synthetic Genomics have any interests in the patents recently filed by the JCVI?
Synthetic Genomics believes that only through commercialization will the full potential of synthetic genomic research be realized. Synthetic Genomics handles the prosecution of any patent applications covering intellectual property developed by the JCVI under a Sponsored Research Agreement between Synthetic Genomics and JCVI. Rights to any resulting patents are assigned to Synthetic Genomics.
What is synthetic genomics?
Synthetic genomics is a new field of science that involves the design and assembly of genes and gene pathways and whole chromosomes from chemical components of DNA. As a computer analogy, we view the genome of a cell as the operating system and the cytoplasm of the cell as the hardware. The cytoplasm contains the ribosomes and the other components necessary for expression of genetic information contained in the genome. Synthetic Genomics’ goal is to modify the cell’s operating system, design new genomes and to code for new types of cells with desired properties for the production of bioenergy or substitutes for petrochemicals.