Twist Bioscience Corporation, a U.S. synthetic biology company company enabling customers to succeed through its offering of high-quality synthetic DNA, announced the completion of a private placement of $50 million, bringing the total raised to $259 million since the company’s founding in 2013.
“We have used our proprietary DNA synthesis platform, which delivers precision at a scale previously not available, to develop a portfolio of diverse products for two large market opportunities – the synthetic biology market through our gene and oligo pool offerings, and the next-generation sequencing market through our exome and custom target enrichment solutions,” said Emily M. Leproust, Ph.D., CEO of Twist Bioscience. “We plan to use a portion of these funds to invest in the emerging vertical market opportunity presented by storing digital data in DNA as well as forward integration toward drug discovery.”
The innovative silicon-based DNA Synthesis Platform from Twist Bioscience provides technologies to overcome inefficiencies and enable cost-effective, rapid, precise, high-throughput synthesis and sequencing. The company has developed proprietary microplate equipment based in part on the photolithography technology used to make semiconductors in the computer industry in Silicon Valley, as well as advanced liquid handling robot technology that builds DNA in the microplates.
Twist Bioscience sells the genes, gene fragments, and oligonucleotides to customers who use them in basic research, drug discovery (for example, creating monoclonal antibody drug candidates), industrial biotechnology (for example, companies wanting to find better enzymes with which to generate biofuel), and agricultural biotechnology.