Twist Bioscience enters licensing agreement with Invenra

Twist Bioscience (TWST) announced that it has entered into a licensing agreement with Invenra. Under the terms of the agreement, Twist will become the co-exclusive provider, together with Invenra, of Invenra’s B-Body bispecific antibody platform, extending Twist’s antibody discovery services. Twist will provide Invenra with an upfront payment of $5M in cash and $15M in Twist common stock. In a secondary transaction, Twist is taking an approximately 6% ownership position in Invenra through a preferred stock purchase from existing Invenra stockholders for $13.8M in Twist common stock. Twist receives all revenue generated for bispecific antibody discovery services conducted by Twist as well as all license revenue, whether signed by Invenra or Twist. Twist will pay Invenra a 20% royalty on all license revenue.