NEW YORK – Twist Bioscience and Bayer said on Thursday that they have signed an antibody discovery, option, and license agreement worth up to $188 million.
Under the terms of the deal, Twist's biopharma division will conduct antibody discovery campaigns against targets to be determined by Bayer, which will have the option to license the antibodies. The biopharma division combines the firm's high-throughput DNA synthesis technology with its antibody engineering, and in vivo, in vitro and in silico discovery methods to discover antibodies of interest.
Twist will receive payments connected with the initiation of research and will be eligible to receive additional payments associated with research milestones and the exercise of licensing options. Leads produced from the collaboration that enter clinical development will qualify for certain success-based clinical and commercial milestone payments as well as royalties from product sales. Bayer will receive exclusive rights to license the antibodies for commercialization worldwide.
Other details were not disclosed.
The deal is part of an "ongoing partnership" with Bayer, Twist CEO and Cofounder Emily Leproust said in a statement. "By combining the scientific and technical strengths of each organization, and importantly the level of mutual trust built over several years working together, we look forward to identifying and developing new therapies in multiple disease areas to positively impact patients who need it the most."