Twist Bioscience Corp (TWST)

History and Background

Twist Bioscience Corp was founded in 2013 and headquartered in South San Francisco, California. The company aims to disrupt the synthetic DNA market by offering high-quality, synthetic DNA at scale and speed, using a silicon-based manufacturing platform. Initially focused on oligo synthesis, Twist has expanded into biopharma discovery, DNA data storage, and next-generation sequencing (NGS) tools.

Core Business Areas

• Synthetic Biology: Twist Bioscience synthesizes custom DNA sequences used in various applications like drug discovery, antibody development, and industrial biotechnology. This is their core revenue driver.
• Biopharma: Leveraging their DNA synthesis capabilities, Twist Biopharma discovers and develops novel antibody therapeutics.
• DNA Data Storage: Twist is developing a platform for storing digital data in DNA, offering a high-density, long-term storage solution.
• NGS Tools: Twist provides target enrichment panels for next-generation sequencing, enabling researchers to focus on specific genomic regions.

Leadership and Structure

Emily Leproust is the CEO and co-founder. The organizational structure comprises various functional departments, including R&D, manufacturing, commercial operations, and corporate functions. The board of directors oversees the company's strategic direction.

Key Offerings

• Synthetic DNA Oligos: Twist's core product is synthetic DNA oligos. Used in various research applications, especially for creating synthetic genes and libraries. Market share varies by oligo complexity and application. Competitors include Integrated DNA Technologies (IDT), Thermo Fisher Scientific (TMO), and Agilent Technologies (A).
• Antibody Discovery: Twist offers antibody discovery services, leveraging its large libraries of synthetic antibodies. Revenue from this segment is increasing as they secure partnerships with pharmaceutical companies. Competitors include Adimab, AbCellera (ABCL), and Distributed Bio.
• NGS Target Enrichment: Twist offers Target enrichment panels and library preparation kits that are utilized in next generation sequencing workflows. Competitors include Illumina (ILMN), Agilent Technologies (A).

Industry Overview

The synthetic biology market is experiencing rapid growth, driven by advancements in genomics, personalized medicine, and industrial biotechnology. Key trends include increased demand for custom DNA synthesis, growing adoption of NGS, and expanding applications of synthetic biology in various industries.

Positioning

Twist Bioscience is positioned as a key player in the synthetic biology market, offering a differentiated silicon-based DNA synthesis platform that enables high-throughput and cost-effective production. They are competitive in both the synthetic DNA and antibody discovery spaces.

Total Addressable Market (TAM)

The total addressable market for synthetic biology, including synthetic DNA, antibody discovery, and DNA data storage, is estimated to be in the tens of billions of dollars. Twist Bioscience is well-positioned to capture a significant portion of this market.

Key Competitors

• IDT (Danaher DHR)
• Thermo Fisher Scientific (TMO)
• Agilent Technologies (A)
• Illumina (ILMN)
• AbCellera Biologics (ABCL)

Competitive Landscape

Twist Bioscience's competitive advantage lies in its silicon-based DNA synthesis platform, which enables high throughput and low cost. However, it faces competition from larger, more established players with broader product portfolios.

iSIMBIO

• Year: 2021
• Acquisition Price (USD millions): 78.7
• Strategic Rationale: Acquisition to enhance Twist Biopharma's capabilities in antibody design and optimization.

Historical Growth: Twist Bioscience has experienced strong revenue growth in recent years, driven by increased adoption of its synthetic DNA and antibody discovery services.

Future Projections: Analysts project continued revenue growth for Twist Bioscience, driven by expanding applications of synthetic biology and increasing demand for its products and services.

Recent Initiatives: Recent initiatives include expanding its biopharma discovery platform, developing new NGS tools, and exploring partnerships in DNA data storage.

Twist Bioscience is a high-growth company in the synthetic biology space with a unique technology platform. The company is experiencing rapid revenue growth, especially in antibody discovery. However, it is also operating at a significant loss, and needs to carefully manage its expenses. Threats of new technologies as well as larger players loom.

Data Sources:

• Company SEC Filings (10-K, 10-Q), Investor Presentations, Analyst Reports, Market Research Reports
• Macrotrends

Disclaimers:

This analysis is based on publicly available information and should not be considered financial advice. Market share estimates are approximate and may vary depending on the source.