The research firm Twist Bioscience has secured $ 70 m from its initial public offering ( IPO ) , selling five million shares at $ 14 each . The company has developed a proprietary technology that manufactures synthetic DNA by “ writing ” it on a silicon chip , which it claims makes DNA synthesis scalable and less expensive than using traditional methods . Twist plans to use the investment capital to fund new equipment and expand research and development , as well as expanding its sales and marketing operations , and establishing a presence in China .
DNA synthesis firm Twist Bioscience has secured $70m from its initial public offering (IPO), selling five million shares at $14 each. The company has developed a proprietary technology that manufactures synthetic DNA by “writing” it on a silicon chip, which it claims makes DNA synthesis scalable and less expensive than using traditional techniques. Twist plans to use the IPO capital to fund new equipment and expand research and development, as well as growing its sales and marketing efforts, and establishing a presence in China.