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South San Francisco, California, USA - (Business Wire) - November 22, 2021 - Twist Bioscience (NASDAQ: TWST) is a company that uses its silicon-based platform to provide high-quality synthetic DNA to help customers A successful company, the company announced that it has reached a final agreement to acquire Abveris (formally known as AbX Biologics, Inc.
Abveris uses its proprietary DiversimAb™ series of hyperimmune mouse models to provide comprehensive antibody discovery and characterization services.
Dr.
Tracey Mullen, CEO of Abveris, said: "We look forward to combining our proprietary in vivo discovery platform with Twist's lead optimization process to integrate and simplify the process, and identify the highest level that can be used immediately for development for our partners.
The total purchase consideration of up to US$190 million includes the US$150 million consideration issued at the end of the transaction, including Twist common stock and a maximum of US$10 million in cash, subject to customary claims for cash, net working capital, outstanding debt, and outstanding debt.
In this transaction, Edgemont Partners acted as Abveris's exclusive financial adviser, and Nutter, McClennen & Fish LLP acted as Abveris's legal adviser
About Twist Bioscience
Twist Bioscience is a leading and fast-growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to promote the industrialization of bioengineering