Twist Bioscience and Ildong Pharmaceutical Enter into a Collaboration to Enhance Antibody Discovery for Applications in Immuno-oncology

Rhea-AI Summary

Twist Bioscience Corporation (NASDAQ: TWST) has partnered with Ildong Pharmaceutical to license a suite of VHH antibody libraries for immuno-oncology applications. The agreement, marking Twist's first collaboration with a South Korean company, includes an upfront payment, annual fees, and royalties on product sales. The VHH libraries, known for their small size and versatility, enable the development of novel therapies targeting various diseases. This partnership aims to enhance Ildong's pipeline and supports Twist's strategic expansion in the Asia-Pacific region.

Positive

• Partnership with Ildong enhances Twist's pipeline and market presence in Asia-Pacific.
• Twist receives upfront payments and royalties, providing potential revenue growth.
• VHH libraries offer versatile applications in developing next-generation therapies.

Negative

• None.

SOUTH SAN FRANCISCO, Calif. & SEOUL, South Korea--(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, and Ildong Pharmaceutical, today announced an agreement under which Ildong will license a suite of Twist VHH antibody libraries to use to discover and develop antibodies for applications in immuno-oncology.

“This collaboration with Twist moves us closer to our vision of becoming a fully global healthcare company while also continuing to drive novel therapies in South Korea through the expansion of our pipeline,” said Hongseok Ban, Ph.D. of Ildong Pharmaceutical. “Access to a selection of Twist’s VHH libraries will enable us to complete discovery efforts to select antibody candidates for development as novel immuno-oncology therapies.”

“We believe our VHH libraries are extremely versatile in their applications developing novel and next generation therapies. Because they are significantly smaller than a traditional human antibody, they can be combined with other technologies, or used on their own for development of effective therapies,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “This VHH library licensing agreement with Ildong is our first collaboration with a South Korea-based company and broadens our presence in the Asia-Pacific region.”

Under the terms of the agreement, Ildong will license a suite of Twist’s VHH libraries for a period of three years and will use the libraries to conduct research and development activities. Twist will receive an upfront payment, annual maintenance fees and additional payments for success-based clinical and regulatory milestones as well as royalties on product sales.

VHH Antibody Libraries

Antibodies contain two variable domains, the heavy and the light chains. A VHH antibody, also known as a single domain antibody, is the antigen binding domain of the heavy chain, with three complementary determining regions (CDRs), or areas where antigens bind to the antibody. Twist’s VHH libraries use novel methods that combine synthetic and natural approaches to maximize diversity in the 10 billion antibody library, creating high quality VHH libraries for use against any protein target. The small size of the VHH antibodies allow them to access targets that traditional antibodies cannot, with tight binding affinity. The modular nature of VHH antibodies supports creation of bi- or multi-specific antibodies ideal for developing next generation therapies specific to oncology, autoimmune disease and virology.

About Ildong Pharmaceutical

Ildong Pharmaceutical
Health Research Center for sharing happier lives

As a leading pharmaceutical company in South Korea, Ildong Pharmaceutical has been dedicated and committed to the development and supply of superior pharmaceutical products that contribute to the health and well-being of people around the world. Ildong Pharmaceutical is steadfast in its vision of continuously growing with its customers as a leading global company by providing solutions for disease prevention and developing new solutions for healthier and happier lives.

Ildong Pharmaceutical has earned the trust of our customers with ethical drugs franchise for chronic disease and cancer therapies, antibiotics, and digestive and circulatory drugs, in addition to well-known OTC brands such as Biovita(probiotics product) and Aronamin(multivitamin). Ildong Pharmaceutical is on the road to reaching its vision of becoming a global total healthcare company with various new drug pipelines including Besivo(hepatitis B therapy), which is the 28th novel drug in South Korea, as well as new innovative drug pipelines and new businesses for health functional foods, medical devices, cosmetics, and beverages.

About Twist Biopharma

By leveraging our unique ability to manufacture DNA at scale, we can construct proprietary antibody libraries precisely designed to match sequences that occur in the human body. The Library of Libraries gives our partners an integral and unbiased resource for antibody therapeutic discovery and optimization. This precise and rational approach to library fabrication combined with sophisticated bioinformatics and software expertise expedites antibody discovery by decreasing risk, increasing speed, and lowering the failure rate for antibody therapeutic development.

About Twist Bioscience Corporation

Twist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.

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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 but not limited to the ability of the collaboration to discover and develop antibodies for applications in immuno-oncology and the achievement of any clinical or regulatory 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. 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. For a 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 on Form 10-Q filed with the Securities and Exchange Commission on May 6, 2022 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005127/en/

For Twist Bioscience:

Angela Bitting

SVP, Corporate Affairs

Twist Bioscience

abitting@twistbioscience.com

For Ildong Pharmaceutical:

Hyemi Kwon

Project manager, CIIC team of R&D

Ildong Pharmaceutical

bioham@ildong.com

Source: Twist Bioscience Corporation

FAQ

What is the recent agreement between Twist Bioscience and Ildong Pharmaceutical?

Twist Bioscience has licensed its VHH antibody libraries to Ildong Pharmaceutical for immuno-oncology applications.

How will the partnership with Ildong Pharmaceutical impact Twist Bioscience?

The partnership is expected to enhance Twist's presence in the Asia-Pacific market and provide potential revenue through upfront payments and royalties.

What are VHH antibody libraries and their significance?

VHH antibody libraries are small, versatile antibodies that can develop novel therapies targeting various diseases, particularly in immuno-oncology.

What financial benefits does Twist gain from the licensing agreement with Ildong?

Twist will receive upfront payments, annual maintenance fees, and royalties on product sales, indicating a potential future revenue stream.