Twist Bioscience Launches Atlas Data Storage as Independent Company With $155M Backing

MT Newswires Live

May 05

Twist Bioscience (TWST) said Monday it has formed Atlas Data Storage as a standalone firm dedicated to DNA-based data archiving, supported by $155 million in seed funding from ARCH Venture Partners, Bezos Expeditions, and others.

The company said the separation allows both companies to focus on distinct priorities, with Atlas advancing DNA storage commercialization and Twist aiming to grow its life sciences offerings and reach adjusted EBITDA breakeven by fiscal 2026.

As part of the transaction, Twist transferred and licensed its storage technology to Atlas in exchange for a minority equity stake, upfront cash, and a promissory note, along with rights to future royalties and milestone payments.

Atlas will be led by former Nimble Storage founder Varun Mehta as CEO, while Twist CEO Emily Leproust will join its board. The companies will have separate leadership and operations.

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