What inspired you to found Twist Bioscience?
Twist Bioscience was founded from a deep expertise in DNA synthesis, an area I have been focused on since moving to the U.S. in 1996. My experience is primarily in writing, reading, and selling DNA. The inspiration for starting Twist Bioscience came from witnessing the dramatic cost reductions in DNA reading – from billions to now a few hundred dollars. We saw a similar potential in DNA writing. Decades ago, writing a gene cost over $100 per base, but with our technology, we have reduced it to $0.09 per base. This innovation mirrors the advancements in DNA reading and was driven by our goal to revolutionize DNA writing.
Could you explain ‘synthetic biology’ and its significance in various fields like health, materials, and food?
Synthetic biology is essentially the engineering of nature to benefit society. It has vast potential in three primary areas: health, materials, and food. In health, synthetic biology has already made significant strides, such as in producing insulin. Looking forward, it holds the promise of transforming diseases like cancer into manageable conditions.
In materials, the last century was dominated by plastics, which, despite their convenience, pose environmental challenges. Synthetic biology offers a sustainable alternative, using engineered proteins for materials, thereby maintaining comfort without environmental harm. In food, synthetic biology can address the increasing strain on food production due to shrinking land and growing populations. It offers solutions for producing more food with fewer resources and less environmental impact, like using natural pest control methods instead of harmful chemicals.
What is the role of synthetic DNA in synthetic biology, and does Twist Bioscience contribute to fields beyond healthcare?
Synthetic DNA is central to synthetic biology, which plays a role in not only healthcare but chemical development, enzyme engineering, agriculture, academia and so much more. Synthetic DNA is like a blueprint for producing proteins, which are crucial in health, materials, and food. Our customers experiment with various DNA sequences to discover proteins with desired functions, like curing cancer or creating sustainable materials. This process involves a cycle of designing, building, testing, and learning. Twist Bioscience's role is to provide a platform that lowers the cost of DNA synthesis, enabling more experimentation within a given budget. This increases the chances of significant breakthroughs across all applications of synthetic biology.
How has Twist Bioscience managed to lower the cost of DNA synthesis?
The key to reducing DNA synthesis cost lies in miniaturizing the reaction volume. Traditional methods used a 96-well plate with a reaction volume of around 50 microliters, roughly the size of a tear drop. At Twist, we use a volume more than a million times smaller – 10 picoliters. This drastic reduction in size means using far less reagents, making the process cheaper and more environmentally friendly. The carbon emissions from creating one gene using our method is equivalent to driving a car for just 0.09 miles, compared to 59 miles using traditional methods. Our approach, which leverages silicon chip technology for miniaturization, not only reduces costs but also lessens environmental impact.
Can you share some case studies of clients who have used Twist Bioscience's platform for groundbreaking discoveries?
One notable example is Grail, a company specializing in liquid biopsy for early cancer detection. They use our DNA to analyze blood samples for traces of cancer DNA. This method allows for the detection of various types of cancer at early stages, significantly improving the chances of successful treatment. Grail's approach, which is entirely reliant on DNA supplied by Twist, exemplifies the transformative potential of our technology in the field of healthcare.
Can you tell us more about your new gene synthesis service, Express Genes?
Express Genes is a significant step forward in gene synthesis, aligning with our goal of providing more opportunities for scientific discovery. Initially, Twist Bioscience focused on reducing costs to allow for more experimental attempts, or 'shots on goal,' in discovering new diagnostics, drugs, materials, and food production methods. Having achieved cost reduction, we recognized the need for speed in our clients' research processes.
Traditional DNA synthesis took about 10 days, but with Express Genes, we have halved this time to just 5 days.
This acceleration is not just about faster results; it reduces the waiting period for researchers, thereby making their work more efficient and ultimately more cost-effective.
What are the biggest scientific challenges Twist Bioscience is currently facing, and what are your future goals?
The foremost scientific challenge we face is extending the length of DNA we can synthesize. In the past, the synthesis of long DNA sequences was thought to be impossible, but we have continually broken these barriers, now producing oligos up to 300 bases and planning to launch 500 bases. Longer DNA allows for more complex information encoding, crucial for advanced research.
Another challenge is synthesizing difficult DNA sequences, particularly those with repetitive elements. We have reduced our inability to synthesize complex sequences from 11% to 5%, but our goal is to reach 0%. Additionally, the post-COVID era has brought RNA into the spotlight as a safe drug modality. We are expanding our capabilities to include RNA synthesis to support the development of new RNA-based drugs.
Could you elaborate on the impact of the pandemic on Twist Bioscience's stock performance and the broader life science industry?
During the pandemic, Twist Bioscience experienced substantial growth, mirroring the increased interest and investment in life sciences. However, post-pandemic, there has been a shift in investor sentiment from valuing growth to prioritizing profitability due to tighter funding environment and higher interest rates. This shift has affected our stock price, even though our revenue growth has been robust. For example, our revenue grew from $2.4 million in 2016 to $245 million last year. The fluctuation in stock prices reflects this change in investor priorities. As we progress towards profitability, I anticipate our stock performance to align more closely with our company's actual growth and success.
What is the relationship between synthetic DNA and nuclear threat?
The Nuclear Threat Initiative (NTI) focuses on limiting the proliferation of military nuclear technologies, reducing nuclear accidents and war risks, and promoting the benefits of nuclear technology for energy production. My role on the NTI Board is to help guide the expansion of their mission into biosecurity.
This new focus aims to maximize the benefits of biological tools for humanity while minimizing the risks of negative outcomes from biology. Nature has a powerful evolutionary force, as seen in various infectious diseases, and we need tools to defend ourselves against these natural threats. At Twist, we focus on maximizing life science benefits to improve human health and sustainability, while simultaneously ensuring biosecurity and early detection of natural outbreaks.
What is your vision for Twist Bioscience in the next three to five years?
Looking ahead, Twist Bioscience aims to achieve two main goals. First is our role as an enabler for our customers. We see ourselves as providing the essential tools that empower researchers to make groundbreaking discoveries. Our ultimate goal is to positively impact human health, reduce suffering, and improve comfort while enhancing the sustainability of our economy. Second, and equally important, as a company, we are focused on growing our revenue, becoming profitable, and creating wealth for our investors and employees. This growth also contributes to the broader economy by creating a tax base that supports the education of the next generation of scientists.
