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Silicon Valley Bank, Twist Bioscience Close $20MM Facility

January 20, 2016, 07:44 AM
Filed Under: Medical

Twist Bioscience, a company accelerating science and innovation through rapid, high-quality DNA synthesis, announced the completion of a $61 million Series D private financing. In conjunction with this financing round, the company secured a debt facility of up to a $15 million loan with an added $5 million revolving account receivable line of credit through Silicon Valley Bank. Under the terms of the agreement, Twist will be able to draw upon a portion of the loan immediately with the remainder available upon completion of certain business milestones.

Crossover participants in the Series D financing round include ARCH Overage Fund, Merieux Developpement, Cormorant Asset Management LLC, Fidelity Management and Research Company and Foresite Capital Management LLC. Additional investors include ARCH Venture Partners, WuXi Healthcare Ventures, Illumina, Inc., Nick and Joby Pritzker (through their family's firm Tao Invest), Paladin Capital Group, Yuri Milner, Boris Nikolic and additional strategic corporate and venture investors. Since the company's founding in 2013, Twist Bioscience has raised a total of $133 million, as well as the $20 million in debt.

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