The Index
400 dossiers
A research screener for every company we cover. Search a name or ticker, then sort and triage dossiers by coverage freshness, our conviction and trading relevance.
| A 20-year, ~$1.7B-deficit cautionary tale of synbio that hit the same wall every fermentation pure-play hits (scale-up economics never closed the gap to chemistry), capped by an SEC revenue-recognition charge and a Chapter 11 that wiped equity to zero — the emerged "Amyris 2.0" is a smaller, Doerr-controlled private with no public equity to buy and no edge proven; AVOID / un-investable, watch only as the canonical synbio-failure comp. | — | 8 | |
| The credible enzymatic-DNA-synthesis survivor — a real fidelity moat (1,005-base record, 50 kb clonal, ~99.9% stepwise yield) now distributed through Danaher/IDT — but it is a sub-$25M-revenue tools shop selling a faster picks-and-shovels commodity into a brutal synbio funding winter; WATCHING as a private until an IPO path or an IDT buyout crystallizes the value. | — | 8 | |
| The only AI-bio company building a proprietary, legally-clean training dataset 100x deeper than UniProt — own the data layer of TechBio and it is a generational compounder; if foundation labs (ESM, AlphaFold) reach "good enough" on public data first, it is a beautifully-sourced commodity. Watch for an EDEN-derived therapeutic deal with real economics and a priced Series C. | — | 8 | |
| "The platform pioneered AI drug discovery and was real; the public-market vehicle and the unit economics were not — a £1.5bn SPAC that destroyed ~96% of value and was taken private by its founders at a ~€40-57m carcass. UNINVESTABLE as a public name (delisted); WATCH only as a private/strategic-acquisition tell for the ai-bio thesis. The lesson, not the ticker, is the asset." | — | 8 | |
| A real lab-in-the-loop antibody-engineering shop with blue-chip pharma validation (AbbVie/Lilly/Merck/Amgen) and now its own clinic-bound ADC — but it is dramatically out-capitalized ($145M vs. $1B+ peers) and is becoming a Lilly satellite; WATCHING as a private, with the IND-into-clinic 2026 prints as the only catalyst that re-rates it. | — | 8 | |
| The single most exciting private name in AI-bio — Chai-2/3 is the first AI antibody platform with a wet-lab-validated, repeatedly-improving hit rate AND signed pharma revenue (Lilly + Pfizer); the bet is whether a portable, lab-light software platform can defend value capture against Isomorphic's deeper engine and the platform-vs-asset value trap. WATCHING for an IPO that is 2-3 years away. | — | 8 | |
| A de-risked computational-discovery option on AstraZeneca's rilvegostomig — the last surviving TIGIT bet — wrapped around a $135M cash shell and a binary 2027 ovarian readout; you are buying the royalty stream and the platform, not COM701. | — | 1 | |
| The cleanest pure-SaaS bet in AI protein engineering — Google-pedigreed, wet-lab-backed, already billing 6 of the top-25 pharma — but it has deliberately disarmed itself of the one thing that creates equity value in this field (it owns no molecule, takes no royalty, signs no IP), so it is selling a fast-commoditizing copilot whose best customers (Novo Nordisk) are simultaneously funding the open-source models that erode its moat. | — | 8 |