NEW YORK (GenomeWeb) – Twist Bioscience today announced that it has secured a loan facility of up to $10 million with Silicon Valley Bank.
The San Francisco-based synthetic DNA manufacturer said that it can draw upon an unspecified portion of the loan immediately, while the remainder of the funds will be available upon the completion of certain milestones.
"This new loan facility provides flexibility within our business model to pursue strategic opportunities while maintaining our focus on product development," Twist Bio CEO Emily Leproust said in a statement.
The company has developed a semiconductor-based synthetic DNA manufacturing platform for producing tools such as oligonucleotides, genes, pathways, and genomes. Earlier this year, Twist Bio raised $26 million in a Series B financing round.