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  "documentTitle": "Twist Bioscience (TWST)",
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      "text": "Twist has “no advantage”; manufacturing oligos is a commodity process any vendor can replicate",
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      "text": "He continued that “everybody who’s a customer in this space has at least two key suppliers”; “lot of little local suppliers”; “very low switching cost”; “it’s all molecular biology” and “the methods are well published.” Another ex-employee stated Twist has “no advantage” and that their offering is a commodity any vendor can offer using traditional DNA synthesis on plastic well plates.",
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      "text": "“Everybody” has “at least two key suppliers”; “very low switching cost”; “lot of little local suppliers”\n“Everybody who’s a customer in this space has at least two key suppliers because people do make mistakes. And there’s a very low switching cost to go from one to another. Every major pharma company has someone they’re using as a primary supplier and someone as a secondary supplier for a project. GeneArt, which is now part of Thermo Fisher, GenScript, and IDT does a little bit in the oligo space. Sigma in Europe does DNA. Eurofins does oligos and genes. And there are a lot of little local suppliers where they have a personal relationship with the supplier. The barrier to getting into the gene synthesis business if you’re a small supplier is pretty low. You can buy the hardware to sequence oligos. It’s all molecular biology. The methods are well published.” -Ex-employee in senior product and sales roles",
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      "text": "Twist has “no advantage”; manufacturing oligos is a commodity process any vendor can replicate\nQ: “Is there anything that Twist sells that you can’t get from 10 other companies?”\nA: “No. You can get it from other companies. Even the NGS panel—you can imagine if you need a few hundred cancer-related genes, you probably need a few thousand oligos. So, you can imagine, you only need a few at the most, a few hundred oligos or a few thousand oligos. A few thousand oligos, people can say I could use 384, and I can use ten 384 plates, just like one chip. There’s nothing we can’t do easily—it would be a similar process, a similar approach, similar synthesizing. DNA is like traditional chemistry, just the typical DNA synthesis method using phosphoramidite. So, there is no advantage.” -Former Twist employee, director-level",
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      "text": "“Tons of players”; “very low barrier to entry”; “always someone willing to do it for less margin”\n“Yes, there are tons of players. If you don’t want to manufacture on a global scale, there’s a very low barrier to entry. There’s always someone willing to do it for less margin than you’d like to make, so you have to do something to differentiate it.” -Ex-employee in senior product and sales roles",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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