June 30, 2021 -- Twist Bioscience has acquired next-generation sequencing library preparation developer iGenomX for $35 million. The deal gives Twist a leg up in the shift from genotyping with static microarray platforms to using sequencing workflows.
IGenomX's sequencing library maximizes lab capacity for numerous applications, including the microbiome, synthetic biology, agrigenomics, and population genetics. The acquisition expands Twist's next-generation sequencing capabilities into new markets, while also accelerating the conversion to genotyping by sequencing workflows.
The total purchase consideration was $35 million, including a $500,000 cash payment and $29.5 million in Twist stock. Additionally, it included a contingency payment of $5 million in Twist shares upon completion of meeting specific milestones.