Business
Twist Bioscience Enters into Royalty Purchase Agreement with XOMA Royalty for $15 Million in Cash
Twist to retain all upfront, service and other revenue earned under antibody discovery and biopharma solutions agreements as well as half of future
About this update from Twist Bioscience Corporation
[{"type":"text","content":"\nTwist to retain all upfront, service and other revenue earned under antibody discovery and biopharma solutions agreements as well as half of future milestones and royalties\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nTwist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced it has entered into a royalty purchase agreement with XOMA Royalty Corporation (NASDAQ: XOMA), the biotech royalty aggregator.\n\nUnder the terms of the agreement, XOMA Royalty will provide Twist Bioscience an upfront payment of $15 million in cash in exchange for the right to receive half of the future potential milestone and royalty payments resulting from existing antibody discovery and biopharma services collaborations with Twist’s partners. Twist will retain all upfront, service and other revenue earned under its antibody discovery and biopharma services collaborations as outlined in the applicable agreements. In addition, Twist retains full rights to any future biopharma collaborations that include milestone and royalty terms. The agreement does not apply to any synbio, NGS, or data storage revenue.\n\n\"This unique agreement provides Twist Bioscience with capital today that will add to our balance sheet and enable continued innovation for profitable growth across the company,” said Emily M. Leproust, Ph.D., CEO and cofounder of Twist Bioscience. “XOMA Royalty’s proven expertise in early-stage royalty monetization makes them an ideal partner for this venture.\"\n\n\"This collaboration with Twist Bioscience exemplifies our commitment to supporting high-potential biotech companies,” commented Brad Sitko, chief investment officer of XOMA Royalty. “By acquiring a portion of Twist’s milestone and royalty rights, we’re contributing to their immediate growth and positioning XOMA Royalty to benefit from their established success in biopharma.\"\n\nAbout Twist Bioscience Corporation\n\nTwist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveragi...