Boehringer Ingelheim and Twist Bioscience Enter Therapeutic Antibody Discovery Collaboration

Rhea-AI Summary

Twist Bioscience Corporation (NASDAQ:TWST) announced a collaboration with Boehringer Ingelheim to utilize Twist's proprietary antibody libraries for discovering therapeutic antibodies. The agreement allows for a wide range of disease targets and grants Boehringer Ingelheim exclusive rights to develop any resulting antibodies. Twist will receive upfront payments for each program and could earn up to $710 million in milestone payments. Both companies aim to create new, personalized treatments for patients.

Positive

• Collaboration with Boehringer Ingelheim expands Twist's market reach in therapeutic antibody development.
• Potential to earn up to $710 million in milestone payments enhances financial forecasts.
• Exclusive rights for Boehringer Ingelheim to develop antibodies could lead to significant revenue opportunities for Twist.

Negative

• None.

-- Research collaboration covers multiple antibody research programs –

SOUTH SAN FRANCISCO, Calif. & INGELHEIM, Germany--(BUSINESS WIRE)-- Twist Bioscience Corporation (NASDAQ:TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced a broad-based research collaboration with Boehringer Ingelheim International GmbH to use Twist’s proprietary antibody libraries to discover therapeutic antibodies against multiple targets provided by Boehringer Ingelheim.

“Boehringer Ingelheim believes Twist’s ability to generate potent, diverse therapeutic antibodies by mining its comprehensive libraries, combined with our extensive capabilities and experience in drug discovery and development, will enable us to deliver breakthrough opportunities to patients,” said Clive R. Wood, Ph.D., Senior Corporate Vice President and Global Head of Discovery Research at Boehringer Ingelheim. “We look forward to working with Twist on molecular targets in a broad range of disease areas,” added Wood.

Under the terms of the agreement, Twist Biopharma, a division of Twist, will utilize its “Library of Libraries,” a panel of synthetic antibody phage display libraries derived only from sequences that exist in the human body, to identify potential therapeutic antibody candidates. Twist and Boehringer Ingelheim will work together to validate and optimize any resulting new antibody candidates, which could be researched against a range of therapeutic areas. Boehringer Ingelheim retains exclusive worldwide rights to develop and commercialize any therapeutic antibodies discovered as part of the collaboration.

Twist will receive an upfront payment for each program entry. In addition, Twist has the potential to earn up to a total of $710 million in success-based clinical, regulatory and commercial milestone payments for the multiple target discovery programs.

“This discovery collaboration with Boehringer Ingelheim covering numerous targets truly illustrates the power of our antibody libraries. We have the ability to generate precise antibodies to a diverse range of targets, which together with Boehringer Ingelheim’s strength in drug development capabilities, could mean multiple new, more personalized treatments in the future for patients,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist.

Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, including without limitation Twist’s ability to discover novel therapeutic antibodies against multiple targets and to achieve any of the clinical, regulatory or commercial milestones, are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist Bioscience’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties of the ability to attract new customers and retain and grow sales from existing customers; risks and uncertainties of rapidly changing technologies and extensive competition in synthetic biology could make the products Twist Bioscience is developing obsolete or non-competitive; the retention of employees of acquired companies and the ability of Twist Bioscience to successfully integrate acquired companies and to achieve expected benefits, risks of third party claims alleging infringement of patents and proprietary rights or seeking to invalidate Twist Bioscience’s patents or proprietary rights; and the risk that Twist Bioscience’s proprietary rights may be insufficient to protect its technologies. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Twist Bioscience’s business in general, see Twist Bioscience’s risk factors set forth in Twist Bioscience’s Quarterly Report Form 10-Q filed with the Securities and Exchange Commission on August 9, 2021 and subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Twist Bioscience specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Please click on the following link for ‘Notes to Editors’:

http://www.boehringer-ingelheim.com/press-release/new-therapeutic-antibody-discovery-collaboration

View source version on businesswire.com: https://www.businesswire.com/news/home/20210909005527/en/

Twist Bioscience

Angela Bitting

SVP, Corporate Affairs

925- 202-6211

media@twistbioscience.com

Boehringer Ingelheim

Dr. Reinhard Malin

Head of Communications Innovation Unit

Boehringer Ingelheim Corporate Center GmbH

Media + PR

P: +49 6132 77-90815

press@boehringer-ingelheim.com

Linda Ruckel

Senior Associate Director, Media and Corporate Reputation

Boehringer Ingelheim U.S.

Media + PR

P: +1 203-791-6672

press@boehringer-ingelheim.com

Source: Boehringer Ingelheim International GmbH

FAQ

What is the significance of the TWST and Boehringer Ingelheim collaboration?

The collaboration focuses on discovering therapeutic antibodies using Twist's proprietary libraries, potentially leading to new treatments.

What are the financial terms of the TWST and Boehringer Ingelheim agreement?

Twist will receive upfront payments for each program entry and has the potential to earn up to $710 million in milestone payments.

What rights does Boehringer Ingelheim have under the TWST collaboration?

Boehringer Ingelheim has exclusive worldwide rights to develop and commercialize therapeutic antibodies discovered through the collaboration.

How does the collaboration affect Twist Bioscience's future prospects?

The collaboration with Boehringer Ingelheim may enhance Twist's market position and financial outlook by facilitating the discovery of new therapies.