Press Release Details
Twist Bioscience Acquires NGS Library Preparation Maker iGenomX
-- Accelerates Conversion from Microarray to Genotyping by Sequencing–
-- Expands NGS Capabilities into New Markets --
“The iGenomX team built a robust PCR-like workflow for ultra-high throughput library construction that will further enable customers to convert from SNP microarray to an NGS-based approach,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist.
Dr. Leproust continued, “Already adopted by a number of agricultural, synthetic biology and healthcare customers, we anticipate this technology, together with our leading NGS product line and worldwide commercial infrastructure, will drive adoption of Twist NGS workflow solutions into fields that run large volumes of samples with shallow sequencing.”
iGenomX was founded in 2012 to develop and commercialize a high-throughput rapid library preparation that facilitates large sample volume with a simple workflow at enabling price points. The resulting commercial library construction maximizes laboratory capacity for many applications including population genetics, agrigenomics, microbiome and synthetic biology.
The total purchase consideration was
“We expect the financial impact of the acquisition on our burn rate to be minimal for both fiscal 2021 and 2022, with revenue of approximately
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Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, including without limitation, statements regarding the acquisition of iGenomX; the expected benefits to Twist, its customers, stockholders and investors from completing the acquisition, including without limitation expected revenue, customer conversions, improvements to serviceable market and future product innovation, are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist Bioscience’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties of the ability to attract new customers and retain and grow sales from existing customers; risks and uncertainties of rapidly changing technologies and extensive competition in synthetic biology could make the products
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SVP, Corporate Affairs