Twist Bioscience to Expand Oregon Lease, Supporting Future Growth
Twist Bioscience Corporation (NASDAQ: TWST) has expanded its lease for the 'Factory of the Future' near Portland, Oregon, adding approximately 100,000 square feet to its existing 110,000-square-foot facility. This expansion supports the company's planned growth in synthetic DNA, including potential verticals like DNA data storage. CEO Emily M. Leproust emphasized the need for strategic space planning for future market opportunities. The financial commitment for the expansion begins in 2022, aiming to bolster Twist’s capabilities in synthetic biology and genomics.
- Expansion of the lease for an additional 100,000 square feet enhances production capacity.
- Strategic planning for future growth in high-value product lines, including DNA data storage.
- Potential operational delays in the construction of the new facility could impact growth timelines.
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 that it has exercised its right of first refusal to expand the lease for its “Factory of the Future” manufacturing facility near Portland, Oregon.
The expanded lease secures an additional approximately 100,000-square-foot facility within the same building as the approximately 110,000-square-foot facility Twist leases. The expansion allows for Twist to build out additional vertical opportunities including DNA data storage or other high value growth product lines, with Twist’s financial commitment beginning in 2022.
“Retaining the ability to roughly double the size of our Factory of the Future provides us with optionality to support our planned aggressive growth and expansion in our current and future market opportunities,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “We need to plan for space about 18 to 24 months in the future. While we are focused on successfully building out our initial Portland site to deliver initial products in 2022, we believe it imperative to plan for the longer-term growth we see ahead.”
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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Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts contained herein may be deemed to be forward-looking statements, including, but not limited to: statements regarding the time frame in which the additional facility will become operational; and the expected benefits to Twist Bioscience from the establishment of the facility, including without limitation additional vertical opportunities including DNA data storage or other high value growth product lines. These statements reflect 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 risk that the facility does not become operational on the expected time frame or at all due to construction or other delays, as well as the risks and uncertainties set forth in Twist Bioscience’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on February 9, 2021 and subsequent filings with the SEC. Any of these risks and uncertainties could materially and adversely affect Twist Bioscience’s results of operations, which would, in turn, have a significant and adverse impact on Twist Bioscience’s stock price. 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.
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