Twist Bioscience announced a co‑exclusive license of Invenra Inc.’s B‑Body bispecific antibody platform, giving Twist access to a proven technology that can be integrated with its existing antibody discovery services.
The agreement includes an upfront cash payment of $5 million, a $15 million payment in Twist common stock, and a 6 % equity stake in Invenra valued at $13.8 million. Twist will receive all revenue generated from bispecific antibody discovery services performed under the license and will pay Invenra a 20 % royalty on license revenue.
The B‑Body platform is designed to overcome key challenges in bispecific antibody development, offering high developability, high concentrations, and low viscosity for subcutaneous delivery. By adding this platform, Twist expands its portfolio into a market projected to reach several billion dollars, with forecasts of USD 460.23 billion by 2034 and a CAGR of 44 % from 2025 to 2034.
Twist’s Q1 FY2026 results provide context for the deal. Revenue rose 17 % YoY to $103.7 million, driven by a 27 % increase in DNA Synthesis and Protein Solutions revenue to $51.1 million and an 8 % rise in NGS Applications revenue to $52.6 million. Gross margin improved to 52.0 % from 48.3 % YoY, while the company posted a net loss of $30.5 million ($0.50 per share) versus a $31.6 million loss ($0.53 per share) in the prior year. The revenue beat of $2.98 million (2.96 %) and the EPS miss of $0.07 (16.28 %) reflect strong top‑line growth offset by higher operating costs and investment in new capabilities.
Emily M. Leproust, CEO of Twist, said the licensing gives the company direct access to a scalable bispecific platform that complements its current services and positions it at the forefront of next‑generation biologics discovery. Roland Green, CEO of Invenra, noted that the partnership leverages Twist’s expertise and infrastructure to broaden access to the platform and support the growing demand for next‑generation bispecifics.
Investors viewed the agreement as a strategic step that strengthens Twist’s competitive position in the rapidly expanding bispecific antibody market. The deal aligns with the company’s goal of achieving adjusted EBITDA break‑even by Q4 FY2026 and supports its broader strategy of expanding high‑margin antibody discovery services.
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