Thanks to the city’s LifeTech initiative, two biotech companies will be moving to Boston, Mayor Thomas M. Menino announced.

Ginkgo BioWorks, a synthetic biology startup, and Eutropics Pharmaceuticals, a biotech company, have moved operations to Boston.

Ginkgo BioWorks, which was founded by a team of five PhDs from Massachusetts Institute of Technology, will move to a 3,400-square-foot laboratory at 7 Tide St. in South Boston’s Marine Industrial Park.

Ginkgo is also the recipient of a $150,000 LifeTech Innovation Fund loan through the Boston Local Development Corporation, according to a statement.

"LifeTech Boston was a tremendous help in securing our space and the LifeTech loan program certainly influenced our decision to locate our company in Boston," said Jason Kelly, founder of Ginkgo.

Eutropics, which develops small molecule therapeutics for treatment of blood cancers, was previously located in Woburn. The five-person company sought new lab space in Boston and worked with the LifeTech team to find 1,500 square feet at 609 Albany St., on the Boston University’s Medical Campus at BioSquare.

"As an early stage company, we thought it would be advantageous to be proximal to our advisory scientific and clinical team members … For this reason, and the excellent infrastructure and central location Boston provides, we decided to locate in Boston proper," said Michael Cardone of Eutropics.

At an event Monday, Menino welcomed both companies to Boston.

"These are forward-looking businesses on the cutting edge of technology," he said. "They can find no better place to commercialize their ideas than Boston – a city known for its drive to discover and incredible innovation."