40 tracked synthetic-biology platforms have raised at least $15.8B+ — and the tools layer holds more of it than therapeutics

DNA synthesis, foundries, and AI protein-design models lead the field; capital is concentrated in the tools layer rather than in clinical programmes.

Stage on the standard FDA ladder, preclinical (1) to approved (8), mapped from each platform’s published regulatory status. 6 tracked platforms have reached clinical stage, 3 of them with a trial phase under way; the rest are at IND stage.

California and Massachusetts hold 32 of the 50 companies with a disclosed HQ. Venture firms are excluded — 5 of the 6 in the directory are themselves headquartered in regions already leading this chart, so counting them would have inflated the finding.