Healthcare Industry News: HSMN NewsFeed
News Release - June 14, 2017
Twist Bioscience Raises Additional $27 MillionAggregate New Funding in 2017 Reaches $60 Million; Total of $191 Million Raised Since Inception
Accelerates Growth into Drug Discovery, Supports Investment in DNA Data Storage
SAN FRANCISCO, June 14, 2017 -- (Healthcare Sales & Marketing Network) -- Twist Bioscience Corporation, a company accelerating science and innovation through rapid, high-quality DNA synthesis, today announced that it raised an additional $27 million in venture financing. This close, combined with the $33 million announced in March 2017, completes the $60 million financing.
Twist Bioscience expects to use the funding to facilitate increased growth in the company's core business of gene synthesis and increased investment into two vertical market segments of drug discovery and DNA digital data storage. To date, Twist Bioscience has raised a total of $191 million.
Demonstrating strong support from institutional, cross over and strategic investors, the funding includes a key investment from Biomatics Capital as well as new investors Reinet Fund S.C.A., F.I.S., NFT Investment Limited, KANGMEI Group, Bay City Capital GF Xinde Life Science Investment Fund, 3W Partners Capital and Ditch Plains Capital Management LP.
"We have built a truly disruptive, scalable DNA synthesis technology platform that is now operating on a commercial scale, providing customers in many different synthetic biology-driven industries with products to accelerate their research and product development efforts," said Emily M. Leproust, Ph.D., CEO of Twist Bioscience. "Importantly, with top tier investors and strategic partners standing behind us, we look forward to rapidly advancing the growth of our core gene synthesis market, and expanding our focus into two key vertical markets, drug discovery and DNA digital data storage."
About Twist Bioscience
At Twist Bioscience, our expertise is accelerating science and innovation by leveraging the power of scale. We have developed a proprietary semiconductor-based synthetic DNA manufacturing process featuring a high throughput silicon platform capable of producing synthetic biology tools, including genes, oligonucleotide pools and variant libraries. By synthesizing DNA on silicon instead of on traditional 96-well plastic plates, our platform overcomes the current inefficiencies of synthetic DNA production, and enables cost-effective, rapid, high-quality and high throughput synthetic gene production, which in turn, expedites the design, build, test cycle to enable personalized medicines, pharmaceuticals, sustainable chemical production, improved agriculture production, diagnostics and biodetection. Twist Bioscience is also developing new technologies to address large scale data storage. For more information, please visit www.twistbioscience.com. Twist Bioscience is on Twitter. Sign up to follow our Twitter feed @TwistBioscience at https://twitter.com/TwistBioscience.
Source: Twist Bioscience
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