Applied Ventures Broadens Portfolio with Strategic Biotechnology Investment
June 09 2014 - 7:30AM
- Twist Bioscience Corporation
develops semiconductor-based manufacturing technology to
commercialize advanced synthetic gene
constructs
- Investment extends Applied
Materials' expertise in precision materials engineering to new
applications for silicon and related growth opportunities in
biotechnology
SANTA CLARA, Calif., June 9, 2014 - Applied
Ventures, LLC, the venture capital arm of Applied Materials, Inc.
and a leading corporate venture firm, announced today that it has
participated in a Series B financing round for Twist Bioscience
Corporation, an advanced biotechnology company developing a
proprietary semiconductor-based technology platform for synthetic
gene manufacturing. Twist's manufacturing process is intended to
enable large-scale, high-throughput construction of genetic designs
that aim to overcome industry inefficiencies by synthesizing DNA on
silicon instead of traditional plastic. The funds provided by
Applied Ventures will be used to collaborate on platform
development and enable next-generation silicon-based technologies
with improved throughput, quality and cost. The investment also
presents an opportunity for Applied Materials to leverage its
expertise in precision materials engineering to add value to
cutting-edge and potentially disruptive applications in emerging
biotechnology markets.
"Applied Ventures' investment in Twist underscores
our investment strategy to use our core strength in precision
materials engineering to promote innovation wherever it happens
across the world," said Eileen Tanghal, general manager of Applied
Ventures. "We are excited to expand our portfolio to include
bioscience technology applications and look forward to helping
commercialize Twist's sophisticated technology to enhance
personalized healthcare and agriculture production as we know
it."
Twist's innovative 10,000-well silicon-based
manufacturing platform is capable of producing synthetic biology
tools, such as oligonucleotides, genes, pathways, chassis and
genomes. By transitioning the industry from existing plastic and
glass substrates to silicon, the company's technology has the
potential to accelerate the development of personalized medicine,
sustainable chemical production, improved agriculture production
and related new applications such as in vivo diagnostics,
biodetection and data storage.
"We believe Twist's proprietary
semiconductor-based DNA synthesis process using a silicon platform
will provide increased speed, quality and throughput, as well as
reduced cost, to the design/build/test research cycle for
developing better biologics, diagnostics, industrial chemicals and
agbio products," said Emily Leproust, Ph.D., chief executive
officer, Twist Bioscience Corporation. "Applied Ventures'
investment bolsters our financial position and provides us a
strategic partner with exceptional expertise in precision materials
engineering to assist our aggressive development efforts to
commercialize our first products in 2015."
Since forming in 2005, Applied Ventures has
invested over $180 million in more than 50 portfolio companies
spanning equipment, materials, device and process providers in the
clean energy, semiconductor, display, lighting and energy storage
sectors. In 2013 alone, the group invested more than $18 million,
including six new investments in early stage technology
companies.
About Applied
Ventures
Applied Ventures, LLC, a subsidiary of Applied Materials, Inc.,
invests in early and later-stage technology companies with high
growth and long-term potential that provide a window into
technologies that advance or complement Applied Materials' core
expertise in precision materials engineering. Applied
Ventures' investments help develop technologies and markets that
provide natural extensions of Applied Materials' businesses and can
stimulate the growth of applications for its products and
services. Applied Materials, Inc. is the global leader in
providing innovative equipment, services and software to enable the
manufacture of advanced semiconductor, flat panel display and solar
photovoltaic products. Learn more at www.appliedventures.com.
# # #
Contact:
Kevin Winston (editorial/media) 408.235.4498
Michael Sullivan (financial community) 408.986.7977
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Applied Materials via Globenewswire
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