Twist Bioscience (TWST) said Tuesday that it has entered a licensing agreement with Invenra to become a co-exclusive provider of Invenra's B-Body bispecific antibody platform.
The companies will jointly offer the B-Body platform, which enables the rapid and precise expression and screening of complex bispecific antibodies, under the agreement, Twist said.
Financial terms include a $5 million upfront cash payment and $15 million in Twist common stock to Invenra, according to the company.
In a separate transaction, Twist will acquire an approximately 6% ownership stake in Invenra through a $13.8 million preferred stock purchase using Twist shares.
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