Synthetic Biology (non-pharma)

Chuanning Biology disclosed its 2026 semi-annual report. In the first half of the year, it achieved total operating revenue of 2.098 billion yuan and net profit attributable to shareholders of the listed company of 278 million yuan. Second-quarter net profit was 167 million yuan, roughly flat compared with the same period last year and steadily higher than the first quarter. The company's synthetic biology production base in Gongliu County, Xinjiang, achieved operating revenue of 71.7599 million yuan in the first half, up 221.38% year on year. High-value-added products such as bisabolol, ergothioneine and squalane have already reached large-scale production. Domestic approval of ergothioneine as a new food ingredient has entered a critical stage and is expected to be formally approved in the second half of 2026.

Cathay Biotech disclosed its 2026 semi-annual report. In the first half, it achieved operating revenue of 1.9 billion yuan, up 13.73% year on year, and net profit attributable to shareholders of the listed company of 372 million yuan, up 20.75% year on year. The profit growth was mainly driven by continued volume expansion of long-chain dibasic acids and revenue contribution from new product sales. During the reporting period, bio-based sebacic acid and bio-based piperidine continued to be introduced to the market, bio-based azelaic acid entered the customer sampling stage, and long-chain polyamide modified products achieved large-scale sales. The company also led an investment in and increased its stake in the AI protein design company MoleculeMind, and currently holds about 17.43% of its shares, making it the largest external shareholder. At the same time, its self-built high-throughput research and development platform has entered the commissioning stage.

The global bisphenol replacements market is projected to grow from $3.9 billion in 2025 to $8.6 billion by 2035, at a compound annual growth rate of 8.3%, according to a new report from ResearchAndMarkets.com. The bisphenol analogues segment accounted for a 44% share in 2025, representing $1.7 billion, and is projected to grow at a CAGR of 15.6% through 2035. The packaging segment represented a 21.5% share in 2025, driven by manufacturers adopting BPA-free materials to comply with food-contact regulations. North America accounted for a 24% share in 2025, with the United States as the primary contributor. Major companies in the market include BASF SE, Covestro AG, SABIC, Hexion Inc., Mitsubishi Chemical Group Corporation, Solvay S.A., Olin Corporation, Mitsui Chemicals Inc., LG Chem, Nan Ya Plastics Corporation, UPM Biochemicals, NICCA Chemical Co., Ltd., Nagase ChemteX Corporation, Jiangsu Aolunda High-Tech Industry Co., Ltd., and Specific Polymers SAS.

BBGI shares rose more than 5% after KGI Securities Thailand raised its target price and maintained a buy rating. The broker said second-quarter 2026 net profit came in at 485 million baht, swinging from a net loss of 40 million baht in the second quarter of 2025 and beating its estimate by 37%, thanks to a higher-than-expected gross margin and a significant increase in profit contributions from associates. The key driver was the start of commercial operations at the SAF plant, in which BBGI holds a 20% stake. KGI therefore lifted its 2026 net profit forecast by 52% to 1.5 billion baht and raised its target price to 7.50 baht from 7.00 baht, while keeping a buy call and naming the stock a top pick in the energy sector.

AMSilk announced that its bioengineered silk protein yarns have been featured in Balenciaga’s 55th Couture Collection. An evening cocoon gown constructed using an AMSilk-blend fabric appeared as part of Creative Director Pierpaolo Piccioli's debut Couture Collection for Balenciaga. The collaboration highlights the luxury fashion industry’s increasing focus on scalable, sustainable alternatives to conventional fabrics. AMSilk’s advanced biomaterials are inspired by spider silk, produced via precision fermentation, and are fully biodegradable and microplastic-free.

BSF Enterprise shares soared 56.5% to 1.33 pence after the tissue engineering company agreed outline terms for a joint venture to sell its lab-grown leather into the American luxury market. The London-listed group signed non-binding heads of terms with US brand operator IMPOSTER to form a 50/50 venture, with BSF contributing technology licensing and material supply while IMPOSTER provides operational funding of between 500,000 and 1 million dollars drawn from a planned 3.5 million dollar growth capital raise. Full commercial exclusivity for the venture only activates once that funding is received. The venture will focus on small luxury items such as bag charms, keyrings, desk accessories, equestrian goods, and a limited run of bespoke handbags and wallets, while BSF retains all intellectual property and commercial rights in higher-volume categories including mainline footwear, apparel, automotive interiors, and mass-market handbags. BSF is targeting three revenue streams: a gross margin of 25 to 35 percent on raw material transfers, a royalty of 3 to 7 percent on net sales, and half of any venture profits.

China Resources Double-Crane announced plans to acquire a combined 23.50% stake in Lier Chemical through a cash payment, with a total consideration of 5.656 billion yuan, and will gain control of Lier Chemical upon completion. Specifically, it will purchase a 20% stake from Sichuan Jiuyuan Investment Holding Group and a 3.50% stake from Sichuan Huacai Technology, at a transfer price of 30.07 yuan per share, totaling 188 million shares. Lier Chemical is the largest domestic producer of chloropyridine pesticide technicals and formulations, and also a large-scale producer of glufosinate and refined glufosinate technicals. China Resources Double-Crane has been building its presence in the biomanufacturing sector since 2022 and has stockpiled multiple synthetic biology pesticide products but lacks an industrialization platform. This acquisition can rapidly achieve the industrialization of its technology and products, building a second growth curve in synthetic biology.

The Penghua Chemical ETF rose more than 2%, with agrochemical and lithium battery materials sectors showing strong performance. On the news front, recent geopolitical conflicts have disrupted fertilizer transportation, putting global fertilizer supply at risk of interruption, while high temperatures have boosted fertilizer demand. Lithium carbonate prices continue to climb, and most lithium battery companies reported favorable first-half results. As of July 22, the majority of listed companies in the lithium battery industry chain that have disclosed first-half earnings forecasts expect year-on-year growth or a turnaround from losses. Huaan Securities noted that against the backdrop of high oil prices, intensifying cost pressures on mid- and downstream chemical sectors will accelerate the elimination of outdated capacity. The synthetic biology and bio-manufacturing industry chain, driven by dual-carbon policies, energy security, and supply chain restructuring, may see a revaluation of asset values. As of 1:43 PM on July 23, 2026, the CSI Subdivided Chemical Industry Thematic Index surged 2.16%, with constituent stocks such as Dongfang Tower up 7.06%, Enjie Stock up 6.29%, and Salt Lake Stock and Hengyi Petrochemical also rising. The Penghua Chemical ETF gained 2.07%, aiming for a third consecutive day of gains, with the latest price at 0.79 yuan. This ETF closely tracks the CSI Subdivided Chemical Industry Thematic Index, which selects securities of listed companies with relatively large scale and good liquidity from the subdivided chemical industry as samples. As of June 30, 2026, the top ten weighted stocks accounted for 43.96% of the total.

Minister of Industry Varawut Silpa-archa and his delegation visited the Nakhon Sawan Biocomplex project of Global Green Chemicals Public Company Limited, or GGC, to hear progress updates and tour the plants of NatureWorks and GKBI. The Nakhon Sawan Biocomplex is operated by GGC KTIS Bio Industrial Company Limited, or GKBI, a joint venture between GGC and Kaset Thai International Sugar Corporation Public Company Limited, or KTIS, linking agricultural raw materials with the bioethanol, renewable energy, and bioplastics industries in a fully integrated manner. The project is divided into two phases, both of which are already in commercial operation. Phase 1 comprises a sugar mill, an ethanol plant, and a biomass power plant, which began commercial operations in the first quarter of 2024. Phase 2 involves the development of utilities to support the PLA bioplastics plant of NatureWorks and new partners, with commercial services starting in the fourth quarter of 2025. Dr. Krisada Prasertsukho, Managing Director of GGC, said the project reflects the potential to drive the biofuels business and extend into biochemicals and bioplastics, while supporting the BCG economy and the transition to a sustainable low-carbon economy.

Cibus Inc. is advancing toward a 2027 Latin American launch of its gene-edited herbicide-tolerant rice, marking the first royalty-validation pathway for its precision-breeding platform. The company transferred gene-edited HT1 and HT3 rice material in elite germplasm to partner Interoc in May 2026, following a commercialization framework and import permit, with Ecuador and Colombia as initial target markets. Management estimates the Americas rice herbicide tolerance opportunity at over $200 million in peak annual addressable royalties across 5 million to 7 million peak acres, while the broader disclosed trait portfolio across rice, canola, and soybean represents roughly 367 to 369 million peak addressable acres and more than $1.9 billion in potential annual addressable royalties. A second commercial lane is emerging through Sustainable Ingredients, where Cibus received its first customer payment in the fourth quarter of 2025 and is targeting additional BioFragrance scale-up orders in the second half of 2026, with fully commercialized partnerships representing a targeted $20 million to $40 million annual royalty opportunity. New CEO Craig Wichner, appointed in June 2026, is focused on converting near-term milestones into revenue while targeting annual net cash usage of approximately $30 million or less in 2026, supported by facility consolidation and recent equity raises totaling $37.3 million in gross proceeds. Consensus estimates project revenue rising from $3.6 million in 2025 to $42.1 million by 2028, though execution risk remains around partner conversion, regulatory approvals, and farmer adoption.

The Bezos Earth Fund, where Lauren Sánchez Bezos serves as vice chair, announced $34 million in grants to develop breakthrough materials for the fashion and textile industry. The funding is split across four research tracks: Columbia University and the Fashion Institute of Technology will share $11.5 million to grow textile fiber from bacteria fed on agricultural waste, UC Berkeley receives $10 million for a biodegradable fiber inspired by spider silk, Clemson University gets $11 million to gene-edit cotton with built-in color and performance, and the Cotton Foundation receives $1.5 million to restore a non-GMO cotton seedbank. The announcement came days before the 2026 Met Gala, where Bezos and Sánchez Bezos served as lead sponsors and honorary co-chairs, sparking protests over worker exploitation at Amazon and accusations of image laundering. Critics also questioned the sincerity of the move given Amazon's position as the world's largest clothing retailer and its rising absolute carbon emissions, while the fund aims to drive performance up and premiums down for next-generation materials.

On Holding AG is introducing a midsole made of captured carbon emissions, rolling out the CleanCloud technology in its Cloud X 5 sneaker. The midsole uses Infinium's eNaphtha, created from captured carbon dioxide and hydrogen, as a renewable alternative to petroleum-based naphtha, which Borouge International then converts into ethylene-vinyl acetate pellets. A life cycle assessment indicates an 80 percent carbon emissions savings compared to conventional manufacturing, and On is ramping up production to 1 million pairs, attributing the rapid scale-up to direct relationships with chemical companies that enabled a drop-in solution in existing reactors.

The transfer of control of Lier Chemical has seen new progress, with China Resources Double-Crane ranking first in the public solicitation and expected to spend approximately 2.374 billion yuan to take over. The company disclosed on the evening of July 15 that its controlling shareholder Jiuyuan Group and its concert party Huacai Technology conducted a comprehensive review of ten prospective transferees, determining China Resources Double-Crane as the top-ranked prospective transferee, with Shudao Investment Group and Sichuan Energy Development Group ranking second and third respectively. Jiuyuan Group and Huacai Technology plan to transfer a total of 188 million shares, representing 23.50 percent of the company's total share capital, at a transfer price of no less than 12.62 yuan per share. China Resources Double-Crane stated that this move is to meet its overall strategic planning and promote the industrialization of synthetic biology reserve technology products. Currently, the actual controller of Lier Chemical is the China Academy of Engineering Physics, which is divesting multiple assets including Lier Chemical.

Cibus welcomed a landmark European Union decision on June 17, 2026, under which crops improved without adding foreign DNA will be treated like conventionally bred crops rather than transgenic GMOs. The new rules distinguish between transgenic GMOs and the precise, non-transgenic improvements Cibus makes to a plant's own genes, opening a path for European farmers to grow cleaner crops more productively with fewer chemicals. President and COO Peter Beetham said the EU completed a science-based review and recognized that crops with changes that could occur in nature or through traditional breeding should be regulated accordingly. Cibus also announced leadership changes on June 9, appointing board member Craig Wichner as CEO, while Beetham continues as President and COO.

AMSilk and Ajinomoto Foods Europe have entered into a long-term manufacturing and supply agreement to enable dedicated, large-scale production of silk proteins. Under the deal, AFE will establish a dedicated production line at its Nesle, France biomanufacturing site, based on 160 m³ fermentation reactor capacity and customized downstream processing. The setup involves a multi-million joint investment in equipment and facility upgrades, and at full performance is expected to reach commercial production volumes of industrial-grade silk protein. The agreement also provides a framework for future expansion of precision fermentation capacity, supporting AMSilk’s ability to meet growing demand across textiles, automotive, and consumer care applications.

Bota Biosciences and BASF have jointly launched SkinNexus™ Collag3n, a 100% human-identical recombinant Collagen III fragment for the personal care market. The ingredient was developed using Bota's Physical AI-driven biofoundry and BASF's cosmetic actives technology, screening over 2,000 collagen fragments. In 3D dermis models, it boosted Collagen I by 48%, Collagen III by 82%, and Collagen V by 71%, and clinical trials on women aged 53 to 70 showed improvements in sagging and wrinkles after four weeks, outperforming a collagen benchmark used at ten times the concentration. The product debuted at in-cosmetics Global in April 2026 and is commercialized by BASF.

Dyadic International announced that the Japan Patent Office has allowed claims covering its proprietary Thermothelomyces heterothallica recombinant protein expression technology. This milestone adds significant protection to the company's global intellectual property portfolio and reinforces its C1 and Dapibus microbial production platforms. As part of its international growth strategy, Dyadic engaged Intralink to support expansion efforts in Japan, generating targeted engagement opportunities with prospective partners across biotechnology, pharmaceutical, food, nutrition, and other sectors. President and COO Joe Hazelton is scheduled to meet with several high-potential partners during a business development visit in early July. The company believes its enhanced IP protection and local business development support position it to capitalize on growing demand for scalable recombinant protein solutions in Japan's advanced biotechnology market.

Alterra, Technip Energies, and Neste have commercially launched Nerea, a standardized modular industrial offering designed to accelerate chemical recycling of plastic waste. Nerea combines Alterra's thermochemical liquefaction technology, Neste's circular feedstock expertise, and Technip Energies' engineering and modularization capabilities into a product model that replaces bespoke engineering, aiming to provide greater cost and schedule predictability for waste operators, project developers, and petrochemical players. The solution targets hard-to-recycle plastics, converting them into high-quality feedstock, and builds on a collaboration agreement signed by the three companies in November 2024. Alterra's technology has over five years of continuous commercial operation processing real-world plastic waste streams. Global plastics production reached approximately 431 million tons in 2024, with circularity rates lagging consumption growth, while regulatory developments in Europe and elsewhere are driving stronger demand for recycled feedstocks.

Applied Research Associates has achieved awardable status through the DARPA Expedited Research Innovation System Marketplace, making its solution eligible for rapid acquisition by authorized government customers across the Department of War. The designation applies to ARA's video solution, Cnidocyte-based Nanomaterial Isolation for Protein Recovery, which introduces a biologically self-sustaining system to produce therapeutic proteins at the point of need with minimal inputs. ARA research scientist Ben Stephenson said the recognition validates the team's vision for a new class of biologically sustained manufacturing platforms that reduce reliance on centralized production and vulnerable supply chains. Government customers can view the solution by creating an account on the ERIS Marketplace.

Osterweis Opportunity Fund named Twist Bioscience Corporation a top contributor in its first-quarter 2026 investor letter, citing new business from technology companies building genomic databases for large language AI models. Twist Bioscience, a synthetic DNA manufacturer, closed at $87.56 per share on June 18, 2026, with a one-month return of 44.56% and a 52-week gain of 152.77%, giving it a market capitalization of $5.45 billion. The fund noted Twist is well positioned in the expanding liquid biopsy field and is being used as an outsourced wet lab by tech firms, a growth area that partly drove the strong quarterly performance. Total revenue rose to $110.7 million in the second quarter of fiscal 2026, up over 19% year-over-year. Hedge fund ownership increased to 30 portfolios at quarter-end from 24 in the prior quarter.