Twist Bioscience enters antibody discovery, license agreement with Bayer

Twist Bioscience (TWST) announced an antibody discovery, option and license agreement with Bayer (BAYRY). Under the terms of the agreement, Twist Biopharma Solutions, a division of Twist Bioscience, will leverage its Library of Libraries to conduct antibody discovery campaigns against targets to be determined by Bayer. Bayer will have the option to license antibodies discovered under the collaboration. Under the terms of the agreement, Twist will receive payments connected with the initiation of research and will be eligible to receive fees associated with research milestones and the exercise of licensing options. The antibody leads discovered under the collaboration that enter clinical development qualify for certain success-based clinical and commercial milestone payments as well as royalties from product sales. In total, Twist is eligible to receive up to $188M in clinical and commercial milestone payments plus royalties. In return, Bayer receives exclusive rights to license the antibodies for commercialization in all global territories.