The investment bank said that while Twist's biopharma and DNA-based data storage businesses offer upside, the timelines for generating revenues are unclear.
The synbio company offers scale and lower costs in "massive" end markets, SVB Leerink analysts said, and could soon command an even more attractive valuation.
The funding will allow the company to accelerate development of its DNA synthesis technology, hire staff, build an R&D facility, and establish industrial partnerships.
The New York Times reports that experts say President Joe Biden's goal of vaccinating 1 million people a day in the US in the next 100 days is too low a bar.