Twist Bioscience

Twist Biosciences is a synthetic biology and genomics company whose proprietary technology involves "writing" DNA on a silicon chip. This approach enables the rapid and cost-efficient production of high-quality synthetic DNA, which is a key driver in advancing drug discovery and development. 

The company’s product portfolio of synthetic DNA-based products, such as synthetic genes, next-generation sequencing preparation tools, and antibody libraries, provides researchers with the necessary tools to investigate disease mechanisms, identify drug targets, and develop personalized therapies. Twist is also exploring long-term opportunities in digital data storage using DNA and biologics drug discovery.

Key Customers and Partnerships

The company has several partnerships for drug discovery and  development, including 1) Takeda Pharmaceutical Company Limited (July 2020) to expand biologics discovery capabilities, 2) SomaLogic (August 2021) to discover novel therapeutic targets and antibodies, 3) Illumina (November 2022) to provide expanded customer access to the co-branded Twist Bioscience for Illumina Exome 2.0 Plus panel designed to advance disease research, 4) Astellas Pharma (January 2023) seeking to discover antibodies against several targets to hit on curative therapies for hard-to-treat diseases, 5) bioinformatics company Aster Insights (April 2023) to launch the AsterExome panel, a genetic analysis tool for cancer research, and 6) CeGaT , a provider of genetic diagnostics and next-generation sequencing services (May 2023) to launch the Twist Alliance CeGaT RNA Fusion Panel.

Funding and Financials

The company began trading on the Nasdaq Stock Exchange in October 2018 under the ticker symbol “TWST,” raising USD 70 million at IPO. In February 2022, the company raised USD 250 million via a public offering of 4.5 million shares priced at USD 55 per share. The funds raised were used to scale R&D, toward commercialization, to expand operations, and to fund working capital and general corporate expenses. 

For the six months ended 31 March 2023, the company reported a 30% increase YoY in revenue to USD 114.4 million and its net loss contracted 5% to USD 101 million. Its cash and cash equivalent as of March 2023 was at USD 316 million compared to USD 379 million in Q4 2022.