Twist Bioscience Corporation, a San Francisco, CA-based developer of a proprietary semiconductor-based synthetic DNA manufacturing process, raised an additional $27m in venture capital financing.
This close, combined with the $33m announced in March 2017, completes the $60m financing. To date, Twist Bioscience has raised a total of $191m.
Backers included 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.
The company intends to use the funds to facilitate increased growth in its core business of gene synthesis and increase investment into two vertical market segments of drug discovery and DNA digital data storage.
Led by Emily M. Leproust, Ph.D., CEO, Twist Bioscience has 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, the platform enables 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. The company is also developing new technologies to address large scale data storage.