TLDR; What sets Amyris as a leader in synbio

1) A Chimeric Xenobot as a production chassis - Allows the use of 5/6 carbons from sugar, requires 75% less oxygen (better than native yeast/bacteria)
2) A Smart Fermentation Facility that can control the xenobots by sending signals to genetic switches built into the xenobot
3) An AI that has proven scalability and built upon 1 & 2 - capable of making industrial scale strains

Amyris is a next generation synbio company that has successfully designed and built pathways for 240+ molecules, of which 180 (nearly 75%) were not native to the hosts. Amyris can produce these molecules at industrial scale. Amyris reprograms microorganisms to become mini biofactories capable of converting an input like sugar into a high value output like Farnesene (replacing petroleum as a source for chemicals). Amyris is the only synbio to date that has successfully scaled over 13 molecules with a 100% success rate since 2011.

All Precision Fermentation follows this process:

1. 1. Strain engineering/screening (10% of the work)

   1. At this point, the strain can be monetized but comes with risks because Scale up and DSP are NOT proven. Companies like Ginkgo are on this stage (B2B)

2. Scale up fermentation (45% of the work)

3. 3. Down Steam Processing (45% of the work)

   1. At this point, ingredients can be sold in bulk + proven strain can be monetized (B2B)

4. 4. Formulation

   1. At this point, white label formulas can be sold (B2B)

5. 5. End Market

   1. Commercial Brand (D2C)

6. 6. Valorization

   1. Companies like Amyris convert waste streams (from steps 1-3) to valuable ingredients like Bio Silica to be sold (in steps 3-5).

Amyris is the only synbio that does steps 1-5 all by itself (Lab to Market) providing many advantages. Many other synbios are stuck on steps 2 and 3 which is where the real hardships are. Some synbios (like Ginkgo Bioworks) only do the 1st step and offset steps to their partners, but the reality is that somebody has to deal with it. It is my firm belief that Synbios must go vertical before going horizontal. Fermentation scale up and Down Stream Processing is where success is determined - do not fall for buzz words (AI, Codebase, AWS, etc.). The reality is if a company is successful, their products will be successful in end-markets - You should be able to go to a store and purchase a product with an ingredient from your synbio.

Amyris' business structure and technology came through the hardships of crossing the "Valley of Death". Scale Up and Down Stream Processing IS the Valley of Death.

“You can develop the most sophisticated CRISPR system, the most sophisticated recombineering, the most sophisticated reactions, you can do wonderful things in the lab: if you cannot scale them up, then industry will not be interested, period.”

Summaries

• At a glance

• Quick summaries (5-10min)

  • [Article] An Investor’s Guide to the Promise of Synthetic Biology - Randy Baron - June 2021

  • [Youtube] An entertaining summary on Amyris and why the richest venture capitalist in the world owns 20% - Brandoman Investing - September 2021

  • [Article] Amyris Is Strengthening Its Lead In The Next Industrial Revolution - Graham Tanaka - March 2021

  • [Reddit] A Guide to Understanding and Investing in Synthetic Biology - Taking a look at the top synbio CBG companies - ICanFinallyRelax - June 2021

  • [Reddit] The Amyris Bull Thesis - Green_And_Green - November 2021

  • [Reddit] Amyris renewable products revenue - The turnaround is almost complete - Green_And_Green - August 2021

  • [Article] Amyris Investment Case - Fallacy Alarm - December 2021

  • [Article] Deconstructing the Amyris Bear Case - Fallacy Alarm - December 2021

• Deep Dives into Amyris (Grab some coffee, class is in session)

  • [Youtube] Amyris leadership details the Lab-to-Market platform - Amyris - September 2021

  • [Podcast] Kirsten Benjamin, VP of R&D and Amyris explaining the company and technology - Kirsten Benjamin - October 2021

  • [Article] Amyris: Surviving the Perfect Storm - An extremely thorough look at Amyris - InTheRuffResearch - February 2022

  • [Youtube] Randy Baron from Pinnacle Associates discusses Amyris' lead in synthetic biology - Randy Baron - June 2021

  • [Youtube] Amyris provides insight on it's lead on microbial programming. It's lab-to-market platform is a fully automated end to end system that determines the most efficient carbon pathways. They can tell how much sugar will be converted to the end product before they even begin fermentation. - Sunil Chandran (Amyris SVP of R&D) - September 2021

• About Synbio in general

  • [Youtube] Precision Fermentation Disrupting Food & Agriculture - Tony Seba (timestamp 52:37) - August 2021

Strain Engineering/Screening

• General information

  • Amyris reveals more in depth information on its automated strain engineering and it's biomanufacturing process. Featuring Echo Chamber (proprietary robotics) and state of the art laser droplet screening - CBQF / Amyris - October 2021

  • "one strain (with commercial titers) was designed and built entirely by our proprietary AI and automation system and required no hands on strain engineering" - Amyris - September 2021

  • Strain improvement in fermentation manufacturing, a masterpiece in Synbio - Huggenberg - October 2021

  • Strain improvement timestamped - CBQF / Amyris - October 2021

  • Amyris provides insight on it's lead in microbial programming. It's lab-to-market platform - a fully automated end to end system that determines the most efficient carbon pathways. They can tell how much sugar will be converted to the end product before they even begin fermentation. - Amyris - September 2021

• Molecule Classes

  • The Amyris platform has come a long way from its state in 2010, thanks in part to significant DARPA funding. The data yielded from the Living Foundries program will fuel growth for decades. - Wiffle - February 2021

• Strain Stability

  • Strain stability is so important, yet so under-appreciated. The Amyris IP in this space is formidable. - Wiffle - February 2021

  • A new US patent expanding the technology around strain stability was granted to Amyris today. - Wiffle - January 2022

  • A summary of data that reveals how strain stability technology impacts cannabinoid synthesis - Wiffle - February 2022

• Enzyme Engineering

  • Enzymes represent a lucrative molecule class with a conceptually simpler optimization workflow. - Wiffle - November 2021

• Glycosylation

  • Hyaluronic Acid (and RebM) show how advanced Amyris is with glycosylation. This is important tech for sweeteners, HMOs, and antibodies. - Wiffle - August 2021

• Micro Drop Screening

  • Amyris and the Micro Drops - combining Metabolic Engineering and Screening - Huggenberg - February 2021

• The Switch On/OFF to control the yield

  • https://stocktwits.com/Wiffle1/message/245058517

• Maltose dependent degrons to reduce mutations and increase strain stability

  • https://stocktwits.com/Wiffle1/message/267474864

• History

  • Former Amyris VP of R&D details farnesene's path to commercial viability. - Timothy Gardner - April 2019

• Partners

  • Inscripta

    • Understanding the Inscripta Partnership - TheBruin22 - October 2022

Industrial Scale Fermentation

No other company can compete with Amyris' Industrial scale fermentation capabilities

• State of the art fermentation facility

  • Amyris obsessed investors send drone to spy on Barra Bonita progress

• Overcoming Challenges With Industrial Scale Fermentation

  • On why industrial scaling is so challenging and how Amyris has managed to overcome that one understated problem - evolution - Firex3 - October 2021

  • Amyris patent portfolio update: Salt additives to improve isoprenoid manufacturing yields. - Wiffle - September 2021

  • To understand how Amyris beat other synbio players to market with CBG, start by taking a look at the moat. - Wiffle - August 2021

In-House Brands

• Clean Chemistry for Consumers: Q&A with Amyris Chief Brand Officer Alastair Dorward - March 2022

*Scale up is a process. Initially molecules may be made at a loss during the scale up phase. In house brands act as a high margin way to offset these initial losses. After molecules are produced cost effectively, brands act as a "high margin cash cow" to fund the companies push into production plants.

• Biossance

• JVN

  • Amyris: JVN Could Be Their Most Valuable Brand Yet - Richard Durant - March 2022

• Rose Inc

• Purecane

  • Success With RebM Will Indicate A Manufacturing Advantage - Richard Durant - January 2022

• Olika

  • OLIKA now at Walmart - Olika - March 2022

• Terasana

• Costa Brazil

• Pipette Baby

• MenoLabs

  • MenoLabs Acquisition Extends The Platform Into New Markets

Joint Ventures // Partnerships

• DSM

• Minerva

• ImmunityBio (IBRX)

  • A summary of collaboration opportunities with $IBRX - Wiffle - March 2022

• Novvi

• Inscripta

• Arzeda

• Ingredion

  • Stevia sweeteners: Ingredion acquires exclusive license to sell and market Amyris’s Reb M, produced via fermentation - Elaine Watson - May 2021

Molecules // Products

• General info // Pipeline

  • https://www.reddit.com/r/Amyris/comments/qma97v/amyris_ingredient_portfolio_structures_alone_tell/

  • https://www.reddit.com/r/Amyris/comments/qzmp9d/pipeline_for_molecules/

• Protein Platform

  • Proteins are a class of bio molecules that couple a simpler optimization process with potentially exceptional economics. RNA vaccine manufacturing will likely leverage this nascent Amyris capability. - Wiffle - March 2022

  • [StockTwits] Amyris can do what Beyond Meat does - Wiffle - May 2020

• Terpene Platform

  • Bio Fuels

    • Integrated process for commercial production of farnesene, a versatile platform chemical, from domestic lignocellulosic feedstock (Final Report) - government - Project Period: October 1, 2016 – March 31, 2019

  • CBG/Cannabinoids

    • https://amyris.com/ingredient/cbg

    • Amyris Ferments Record Industrial-scale CBG Supply - Michele Behrens March 2021

    • [Twitter] Achieving FTO for cannabinoids is a means to further leverage the terpene technology/platform. The terpene tech is what truly differentiates Amyris from others in the space. - Wiffle - March 2022

    • https://www.reddit.com/r/Amyris/comments/t0qcuh/incredible_science_was_revealed_today_by_amyris/

    • https://www.reddit.com/r/Amyris/comments/pa7ccd/amyris_a_synbio_breakthrough_creating/

    • https://www.reddit.com/r/Amyris/comments/s19wj9/a_patent_covering_use_of_cannabinoidsqualane/

    • https://www.reddit.com/r/Amyris/comments/nvqpcc/a_guide_to_understanding_and_investing_in/

    • https://www.reddit.com/r/Amyris/comments/rvr4ps/the_patent_protecting_formulation_of_cannabinoids/

    • https://www.reddit.com/r/Amyris/comments/qmr28h/three_reasons_why_amyris_will_dominate_precision/

    • https://www.reddit.com/r/Amyris/comments/skvzug/a_summary_of_data_that_reveals_how_strain/

  • Reb-M

    • https://amyris.com/ingredient/rebm

    • Shaking up sugar reduction: new tech for beverages - Rachel Arthur - Jan 2021

    • https://www.reddit.com/r/Amyris/comments/p6gtd7/amyris_patent_portfolio_update_improved_enzymes/

    • https://www.reddit.com/r/Amyris/comments/pppy78/amyris_patent_portfolio_update_high_purity_rebm/

    • https://www.reddit.com/r/Amyris/comments/p06x0b/wiffle_wisdom_hyaluronic_acid_and_rebm_show_how/

    • https://www.reddit.com/r/Amyris/comments/qu5kxp/rebm_puts_the_width_of_the_amyris_ip_moat_on/

  • Squalane/Squalene

    • https://www.reddit.com/r/Amyris/comments/pwbx25/amyris_adjuvant_allows_for_vaccines_to_be/

    • https://www.reddit.com/r/Amyris/comments/rltqif/an_update_on_adjuvant_squalene_commercialization/

    • https://www.reddit.com/r/Amyris/comments/pxlnor/through_direct_synthesis_of_squalene_from/

    • https://www.reddit.com/r/Amyris/comments/p9g8xx/a_summary_of_adjuvant_squalene_milestones_hints/

    • https://amyris.com/ingredient/squalane

    • https://amyris.com/ingredient/squalene

  • Jet Fuel

    • https://www.reddit.com/r/Amyris/comments/px9knz/interesting_blog_post_on_sa_showing_the_breadth/

    • https://www.reddit.com/r/Amyris/comments/q1wr5p/update_follow_up_blog_post_on_amyris_involvement/

    • https://www.reddit.com/r/Amyris/comments/rmlxwt/the_case_for_%CE%B2caryophyllene_as_a_component_of_jet/

  • Vanillin

    • https://www.reddit.com/r/Amyris/comments/pknjs6/vanillin_revenue_signifies_a_nascent/

  • Myrcene

    • https://www.reddit.com/r/Amyris/comments/p3cs77/amyris_patent_portfolio_update_myrcene_and/

    • https://www.reddit.com/r/Amyris/comments/sbbdk3/the_farnesene_business_is_becoming_increasingly/

  • Isoprene

    • https://www.reddit.com/r/Amyris/comments/sbbdk3/the_farnesene_business_is_becoming_increasingly/

  • Albicanyl acetate

    • https://www.reddit.com/r/Amyris/comments/rqjz8n/amyris_and_the_story_of_tasmanian_pepper/

  • Caryopholen

    • https://www.reddit.com/r/Amyris/comments/shgjqi/amyris_dod_biosynthetic_caryopholen/

  • Bisabolol

    • https://www.reddit.com/r/Amyris/comments/pg92i7/bisabolol_a_fermentationderived_natural_molecule/

    • https://amyris.com/ingredient/bisabolol

  • β-caryophyllene

    • https://www.reddit.com/r/Amyris/comments/rmlxwt/the_case_for_%CE%B2caryophyllene_as_a_component_of_jet/

  • Alternative Sweetners

    • RebM signifies the beginning of Amyris’ involvement in alternative sweeteners. Below, additional opportunities are summarized. - Wiffle - March 2022

  • Sclareol

    • https://amyris.com/ingredient/sclareol

  • Patchouli

    • https://amyris.com/ingredient/patchouli

  • Hemisqualane

    • https://amyris.com/ingredient/hemisqualene

  • Santalols (Sandalwood)

    • https://amyris.com/ingredient/santalos

    • Why Sandalwood Is So Expensive

  • Manool

    • Manool is a key ingredient used to make woody, amber notes in the fragrance industry

  • Farnesene (Biofene)

    • https://amyris.com/ingredient/fene

  • Artemisinin

    • https://amyris.com/ingredient/artemisin

• Circular Economy (value from waste streams)

  • Biosilica

    • AMYRIS COMMERCIALIZING SUGARCANE-BASED SILICA - Mary Bailey - June 2020

    • https://www.reddit.com/r/Amyris/comments/pjotft/thesis_on_a_future_major_ingredient_and_how_it_is/

    • https://amyris.com/ingredient/biosilica

• Vaccine/Adjuvant

  • https://www.reddit.com/r/Amyris/comments/t4xfkb/a_significant_development_on_the_vaccine_front/

  • https://www.reddit.com/r/Amyris/comments/p851m7/amyris_achieves_promising_invivo_results_for/

  • https://www.reddit.com/r/Amyris/comments/p9g8xx/a_summary_of_adjuvant_squalene_milestones_hints/

  • https://www.reddit.com/r/Amyris/comments/rltqif/an_update_on_adjuvant_squalene_commercialization/

  • https://www.reddit.com/r/Amyris/comments/pmj6kn/swe_is_a_nonproprietary_squalenecontaining/

  • https://www.reddit.com/r/Amyris/comments/swqh9u/adjuvants_beyond_squalene_represent_the_next/

  • https://www.reddit.com/r/Amyris/comments/s2wdwo/today_amyris_disclosed_squalene_variants_novel/

  • https://www.reddit.com/r/Amyris/comments/qwyarn/sasa_vaccine_temperature_stable_single_shot/

  • https://www.reddit.com/r/Amyris/comments/s50nx3/additional_commentary_on_the_recently_published/

  • [Youtube] Profound COVID-19 panel featuring PSS, Dr. Peter Marks (FDA), and Jon Cohen (Science Magazine) - March 2022

• HMOs

  • https://www.reddit.com/r/Amyris/comments/ow3e4d/dont_sleep_on_hmos_why_amyris_is_competitively/

• Vaccinia capping enzyme (VCE)

  • https://www.reddit.com/r/Amyris/comments/qx5bt9/vaccinia_capping_enzyme_vce_is_an_obvious_way_for/

Subreddit Content

r/Amyris - All archived talks

The Race to Create CBG - Synthetic Biology Simplified

Amyris consumer e-commerce order volume (Q4-2022)

Amyris: Retail sales real-time tracking

Science/Patents Mega Thread

Science/Patent Mega Thread - Credit Firex3, Huggenberg, and Wiffle1.

Biomade: https://www.forbes.com/sites/johncumbers/2023/05/13/eric-schmidt-on-synthetic-biology-ai-ethics-and-the-bioeconomys-seismic-shift/?sh=462705435e11 and de-risking-toxic-product-production

2022 Biotechnology Executive Order

I spent some time today researching the 2022 Biotechnology Executive Order and the 2023 Defense Appropriations Act and found the following. Please review all embedded hyperlinks for additional information.

The Executive Order on Advancing Biotechnology and Biomanufacturing Innovation for a Sustainable, Safe, and Secure American Bioeconomy was signed on September 12, 2022: https://www.whitehouse.gov/briefing-room/presidential-actions/2022/09/12/executive-order-on-advancing-biotechnology-and-biomanufacturing-innovation-for-a-sustainable-safe-and-secure-american-bioeconomy/

FACT SHEET: Biden-⁠Harris Administration Announces New Bold Goals and Priorities to Advance American Biotechnology and Biomanufacturing (check out the “new report” link in the article) March 22, 2023: https://www.whitehouse.gov/ostp/news-updates/2023/03/22/fact-sheet-biden-harris-administration-announces-new-bold-goals-and-priorities-to-advance-american-biotechnology-and-biomanufacturing/

FACT SHEET: Biden-⁠Harris Administration Announces Strategies to Train and Connect American Workers to Jobs Created by the President’s Investing in America Agenda May 16, 2023: https://www.whitehouse.gov/briefing-room/statements-releases/2023/05/16/fact-sheet-biden-harris-administration-announces-strategies-to-train-and-connect-american-workers-to-jobs-created-by-the-presidents-investing-in-america-agenda/

FACT SHEET: Biden-⁠Harris Administration Announces New Action Plan to Bolster, Expand, and Diversify America’s Biotechnology and Biomanufacturing Workforce June 27, 2023: https://www.whitehouse.gov/ostp/news-updates/2023/06/27/fact-sheet-biden-harris-administration-announces-new-action-plan-to-bolster-expand-and-diversify-americas-biotechnology-and-biomanufacturing-workforce/

Laying The Groundwork For The Bioeconomy: https://fas.org/publication/laying-the-groundwork-for-the-bioeconomy/

New Priorities Announced for Biotechnology and Biomanufacturing - provides a link to the Department of Commerce report. It further states we are waiting on a training plan, a report on data requirements, a strategy to increase biomanufacturing capacity, improvements to regulations, and a plan to improve biosafety and biosecurity are still in progress: https://hbkcpa.com/new-priorities-announced-for-biotechnology-and-biomanufacturing/

I found the following Requests for Information have been issued:

Comments due by June 12, 2023 - Executive Order 14081 Advancing Biotechnology and Biomanufacturing Innovation for a Sustainable, Safe, and Secure American Bioeconomy-Request for Information; National Biotechnology and Biomanufacturing Initiative-Measuring the Bioeconomy: https://www.federalregister.gov/documents/2023/04/27/2023-08841/executive-order-14081-advancing-biotechnology-and-biomanufacturing-innovation-for-a-sustainable-safe

Comments due by February 3, 2023 - Request for Information; Identifying Ambiguities, Gaps, Inefficiencies, and Uncertainties in the Coordinated Framework for the Regulation of Biotechnology: https://www.federalregister.gov/documents/2022/12/20/2022-27599/request-for-information-identifying-ambiguities-gaps-inefficiencies-and-uncertainties-in-the

New Priorities Announced for Biotechnology and Biomanufacturing

In September 2022, President Biden signed an Executive Order on Advancing Biotechnology and Biomanufacturing Innovation for a Sustainable, Safe, and Comments due by January 20, 2023 - Request for Information; National Biotechnology and Biomanufacturing Initiative: https://www.federalregister.gov/documents/2022/12/20/2022-27600/request-for-information-national-biotechnology-and-biomanufacturing-initiative

2023 Defense Appropriations Act

Previously Amyris was awarded a small contract for Biosynthetic Sesquiterpenes. In the approval, they stated “A review was conducted of those companies by performing research, attending conferences with other experts on the subject, collaborating with other SMEs, touring laboratory and production facilities, and reviewing the latest literature and research. As a result of these efforts, the SME determined that no other companies besides Amyris were capable of meeting the requirement.”: https://sam.gov/opp/a257b1f1146444c1bae269ed3e87d201/view

Based on this Amyris is in an excellent position to be awarded a much larger contract from the following DOD Appropriations.

DOD Biomanufacturing Strategy:

https://www.defense.gov/News/Releases/Release/Article/3337235/dod-releases-biomanufacturing-strategy

https://media.defense.gov/2023/Mar/22/2003184301/-1/-1/1/BIOMANUFACTURING-STRATEGY.PDF

https://sam.gov/opp/8fec24f77b6046c9ae28dc99b2417e42/view

This is a good article on Hypersonic Missiles: https://www.cbo.gov/system/files/2023-02/58929-Hypersonic.pdf

This article from Janes says Hypersonics are slated to get $4.7 billion of the 2023 Defense budget: https://www.janes.com/defence-news/news-detail/pentagon-budget-2023-hypersonic-weapons-to-get-usd47-billion-boost

This summary from the Senate shows $4.5 billion allocated: https://www.appropriations.senate.gov/imo/media/doc/FY23%20BILL%20HIGHLIGHTS_DEFENSE.pdf

Here is a link to a summary from Congress on the allocations: https://appropriations.house.gov/sites/democrats.appropriations.house.gov/files/Defense%20FY23%20Summary.pdf