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      "text": "NGS market is a commodity, and so is Twist; \"crowded market\" with competitors \"improving all the time\" and new entrants offering better product than Twist with more efficient manufacturing methods",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Q: “Is what they do essentially a commodity?”",
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      "text": "NGS market is a commodity, and so is Twist; “crowded market” with competitors “improving all the time” and new entrants offering better product than Twist with more efficient manufacturing methods",
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      "text": "A: “Yeah, they’re improving all the time. Also, there are other companies starting to make synthetic DNA with lots of different other technologies such as enzymatic methods and true microchip printing that claim that they can get longer oligos than Twist, claim to be cheaper and do it in a more highly parallel fashion to reduce the process. It’s becoming quite a crowded market.”",
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      "text": "A: “All the other companies, Roche, IDT, Agilent - all of the capability. They don’t have quite the flexibility for the custom panels, but they are always iterating and producing better-performing exome panels. I would guess that it’s the exome stuff that globally is at least half if probably not 75% of all the target enrichment that’s used. So, there’s a threat that it’s a commodity and given economies of scale, even if they’re not as good with custom.”",
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      "text": "Twist customer indifferent between them or a cheap Chinese competitor",
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      "text": "A: “Yeah. Their only real IP is in the miniaturized equipment that they use for printing, and there are other companies developing platforms that might have similar functionality.” – Major Twist customer, one of largest genomics centers in Europe",
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      "text": "Q: “Do you see the competition catching up to a point where they would regain your business and ends up being a major threat to Twist?”",
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      "text": "“When we buy single genes, sometimes we buy Twist, and sometimes we use some other people like GenScript, but that’s totally - we haven’t done a lot of research to try to figure out who’s the best people. I’ve worked with GenScript before and always found their stuff pretty good.” – Current Twist customer, professor with a protein therapeutics lab at a major university",
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      "text": "\"I would guess that it's the exome stuff that globally is at least half if probably not 75% of all the target enrichment that's used. So, there's a threat that it's a commodity and given economies of scale, even if they're not as good with custom.\" — Major Twist customer, one of largest genomics centers in Europe; \"Yeah, they're improving all the time. Also, there are other companies starting to make synthetic DNA with lots of different other technologies such as enzymatic methods and true microchip printing that claim that they can get longer oligos than Twist, claim to be cheaper and do it in a more highly parallel fashion to reduce the process. It's becoming quite a crowded market.\" — Major Twist customer, one of largest genomics centers in Europe; \"When we buy single genes, sometimes we buy Twist, and sometimes we use some other people like GenScript, but that's totally - we haven't done a lot of research to try to figure out who's the best people. I've worked with GenScript before and always found their stuff pretty good.\" — Current Twist customer, professor with a protein therapeutics lab at a major university",
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      "text": "Other customers echoed the same sentiment. A major genomics center stated the NGS market is a commodity, as is Twist’s offering within it",
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