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  "documentTitle": "Twist Bioscience (TWST)",
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  "presentationDate": "2022-11-15 00:00:00",
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  "notes": "The slide uses expert testimony to frame Twist as vulnerable to both established incumbents and new, cheaper technologies.",
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      "text": "Twist’s offering is “no different from about 45 other companies,” and that newer “enzymatic DNA methods will replace the oligo pools produced” by Twist as “it’s going to be super cheap.”",
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      "text": "This executive, whose knowledge of the competitive landscape struck us as detailed and insightful, outlined how Twist is flanked by large incumbents like IDT and Genscript on one side - in business far longer - and new entrants on the other.",
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      "text": "From a competitive situation, IDT has still got a great business. GenScript still has a great business. You see multiple new competitors start in this space. I think there are going to be some challenges coming up in the future.",
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      "text": "The antibody business that they've embarked on...what they're doing is no different from about 45 other companies. Distributed Bio, which is now part of Charles River—both of those companies are younger, and both of those are making much more money and far more profitable than Twist. And you've got to ask the question, why is that? They're focused, they have a better product, and they have a higher quality discovery system. Twist is going to have a really big challenge in the marketplace.",
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      "text": "I would personally be more worried if I were Twist about the companies that are coming online with the desktop gene printers as well as some of the new enzymatic DNA methods. I think the enzymatic DNA methods will replace the oligo pools produced otherwise because it's going to be super cheap. But then whole genome sequencing is getting so cheap. Why would you do pools anymore if you get the whole genome for $100? There's no use buying something to do a panel, which will cost you $20 when the whole genome is $100. So, I'd be worried about enzymatic DNA synthesis. I'd be worried about the desktop synthesis. I'd be real worried about the price of whole genome sequencing.",
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      "text": "“From a competitive situation, IDT has still got a great business. GenScript still has a great business. You see multiple new competitors start in this space. I think there are going to be some challenges coming up in the future. GenScript has been around since before Twist, and they've done fairly well in growing. There are some new ones springing up,” — Longtime executive in Twist’s space; ex-founder of a key competitor. “I would personally be more worried if I were Twist about the companies that are coming online with the desktop gene printers as well as some of the new enzymatic DNA methods. I think the enzymatic DNA methods will replace the oligo pools produced otherwise because it’s going to be super cheap. But then whole genome sequencing is getting so cheap. Why would you do pools anymore if you get the whole genome for $100? There’s no use buying something to do a panel, which will cost $20 when the whole genome is $100. So, I’d be worried about enzymatic DNA synthesis. I’d be real worried about the price of whole genome sequencing.” — Longtime executive in Twist’s space; ex-founder of a key competitor. “The antibody business that they’ve embarked on...what they’re doing is no different from about 45 other companies. Distributed Bio, which is now part of Charles River—both of those companies are younger, and both of those are making much more money and far more profitable than Twist. And you’ve got to ask the question, why is that? They’re focused, they have a better product, and they have a higher quality discovery system. Twist is going to have a really big challenge in the marketplace.” — Longtime executive in Twist’s space; ex-founder of a key competitor.",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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