Synthetic biology and genomics company Twist Bioscience has entered a deal with Xoma Royalty Corporation in which it will receive $15 million in cash in exchange for half of future potential milestone and royalty payments resulting from existing antibody discovery and biopharma services collaborations with Twist's partners.
Twist manufactures synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) sample preparation, and antibody libraries for drug discovery and development, according to information on the company's website. Twist's platform involves a semiconductor-based synthetic DNA manufacturing process featuring a high-throughput silicon platform that enables miniaturizing the chemistry necessary for DNA synthesis.
In its third-quarter business update, Twist reported $81.5 million in revenue with a gross margin of 43.3%, adding that it shipped 212,000 genes to approximately 2,300 customers in the third quarter of 2024. Also in that update, the company celebrated launching a multiplexed gene fragments product of directly synthesized DNA to enable high throughput screening applications.
Twist also expanded its high-throughput antibody portfolio with the launch of Twist Express Antibodies. Launch of a synthetic RNA control for H5N1, one of the causes of highly pathogenic avian influenza, was also noted. The products are produced in Wilsonville, OR, in the greater Portland area.
Under the terms of the agreement with Xoma, Twist will retain all upfront, service, and other revenue earned under its antibody discovery and biopharma services collaborations as outlined in the applicable agreements, Twist said. Twist also retains full rights to any future biopharma collaborations that include milestone and royalty terms, and the agreement does not apply to any synbio, NGS, or data storage revenue.
