Twist Bioscience, a US-based biotechnology company focused on synthesising DNA, has closed a $37m series C round led by biotechnology company Illumina and featuring diversified financial conglomerate Fidelity Management and Research.
Foresite Capital Management, and existing investors Tao Invest, Arch Venture Partners, Paladin Capital Group, Yuri Milner as well as a range of unnamed corporate and venture investors also contributed to the funding round.
Founded in 2013, Twist has developed a platform to create synthetic DNA. DNA, or deoxyribonucleic acid, is the genetic code that controls all cells in living beings and is one of the building blocks of life.
Twist hopes its platform will accelerate a range of developments such as personalised medicine, improved agriculture and in vivo diagnostics.
The company has raised $82.1m to date, including $10m in debt financing secured from Silicon Valley Bank in September 2014.
Nicholas Naclerio, senior vice-president of corporate development and general manager of enterprise informatics at Illumina, will join Twist’s board of directors.
Emily Leproust, chief executive of Twist, said: “This funding will allow us to accelerate into a beta commercial launch this fall.
“In addition, we intend to pursue strategic opportunities to add product capabilities and services to further enhance the Twist Bioscience user experience.”