Twist Bioscience Spins Out DNA Data Storage as Independent Company

3 minute read | May.14.2025

Twist Bioscience Corporation (NASDAQ: TWST), a core mid-cap growth and value equity company in the life sciences segment of the health care sector has spun out its DNA data storage technology application as an independent company, named Atlas Data Storage (“Atlas”). Atlas will focus solely on DNA data storage technology and commercialization, with $155 million in seed financing round including ARCH Venture Partners, Deerfield Management, Bezos Expeditions, Tao Capital Partners, Earth Foundry, Rsquared VC, In-Q-Tel (IQT), and other undisclosed investors.

THE IMPACT

Under the terms of the contribution and license agreements, Twist assigned and licensed its DNA data storage technology to Atlas in exchange for Twist receiving a minority ownership interest upon close, an upfront cash payment and a secured promissory note. Twist retains an ownership stake in Atlas and may participate in the upside of DNA data storage through future technology and commercial milestone payments, and a revenue share through royalties on future sales of Atlas’ products and services. In addition, Twist will benefit from technology advancements made by Atlas where it applies to Twist’s product groups.

THE TEAM

An Orrick team led by John Bautista and David Schulman advised Twist on the transaction. The team also included Kayla Southworth, Eric Wall, Daniel Yost, Richard Smith, Tiffany Leung, Niki Fang, Nicole Walsh, Emily Lewis, and Jason Flaherty.

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Related Lawyers

John Bautista Partner, Technology Companies Group, Mergers & Acquisitions

San Francisco; Santa Monica; Silicon Valley

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D:+1 650 614 7652
E: jbautista@orrick.com

Practice:

Technology & Innovation Sector
Technology Companies Group
Mergers & Acquisitions
Governance aziendale
Fintech
Blockchain and Virtual Currency

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John Bautista Partner

San Francisco; Santa Monica; Silicon Valley

John focuses his practice on advising emerging companies and investors, and represents both public and private high-tech and life sciences companies in many areas, including corporate and securities law, venture capital financings, mergers and acquisitions, public offerings, public company representation and technology licensing.

The Recorder named John the “2019 Innovator of the Year” for his work as the chief lawyer on the Long-Term Stock Exchange, a U.S. Securities and Exchange Commission-approved exchange designed to change the paradigm of traditional stock markets by rewarding entrepreneurs and investors committed to long-term business strategies. Financial Times recognized John as one of the Top 10 Most Innovative Individuals of the Year in 2017, calling him “one of the most influential lawyers in the technology ecosystem of Silicon Valley.” He is ranked Band 1 by Chambers USA California, for Venture Capital and Chambers USA Nationwide, ranked him Band 2 for Startups & Emerging Companies.

John is a Board member and co-founder of the Long-Term Stock Exchange, which is creating a new stock exchange for public companies supporting long-term investors, as well as an advisor and co-founder of Clerky.com, a company automating legal work for early-stage companies. He is also recognized for his work with Y Combinator companies.

At Orrick, John serves as Lead Partner for Transactions and Lead Partner for Innovation & Technology.

Prior to joining Orrick, John was a founding attorney of Venture Law Group and served on the Executive Committee. John previously practiced at Wilson, Sonsini, Goodrich & Rosati. John also served as Mayor of the City of Cupertino, California and a council member from 1993-1997, where he helped build important public partnerships, including with Apple Computer, the Mid-Peninsula Open Space Preserve, and San Jose and California Water Companies.

David Schulman Partner, Capital Markets, Mergers & Acquisitions

Washington, D.C.

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D:+1 202 339 8654
E: dschulman@orrick.com

Practice:

Technology & Innovation Sector
Capital Markets
Mergers & Acquisitions
Technology Companies Group
Technology Transactions

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David Schulman Partner

Washington, D.C.

He provides strategic guidance on transactions involving mergers, acquisitions, collaborations, strategic alliances, licenses, capital markets, royalty and revenue-sharing and other financings for pharmaceutical and biotechnology companies and financial sponsors.

David is highly ranked for his life sciences work by Chambers USA and Chambers Global, with clients recognizing him as “one of the best business and corporate lawyers in the life sciences sector” with “a deep knowledge of the industry, which he successfully combines with great legal skills.” He has also been recognized by The Legal 500 and is listed as a “Life Sciences Star” in LMG Life Sciences.

Prior to joining Orrick, David was a partner with Dechert LLP, based in its Washington, D.C., and London offices and was a co-head of their Life Sciences practice. He is currently a member of the Board of Overseers of the School of Arts and Sciences of the University of Pennsylvania.