Telesis Bio, a provider of DNA and mRNA synthesis solutions to accelerate therapeutic discovery with fast and flexible on-site automated foundries, announced that it has entered into a convertible preferred stock purchase agreement to sell shares of a new series of convertible preferred stock in a private placement. The financing was led by Novalis LifeSciences and Northpond Ventures and is expected to result in gross proceeds to the company of up to about $21 million.
The company’s recently launched proprietary next-generation enzymatic synthesis platform, Gibson SOLA, enables customers to fully control their nucleic acid supply chain, protect valuable IP, and maintain ownership of data and insights to feed new generations of AI drug discovery models.
The Gibson SOLA reagent platform and comprehensive software suite enable customers to use standard automated liquid handling equipment to overnight synthesize long, complex constructs necessary for biologics, vaccine, and cell therapy research and development.
This purchase agreement provides for the sale and issuance of convertible preferred stock in two closings (the initial and the second tranche). And the initial tranche included the sale and issuance of approximately $17 million in shares of convertible stock of which $8 million was tied to cash infusion, and $9 million related to conversion of outstanding debt into convertible stock. Subject to the determination of the company’s Board of Directors (the Board) to affect the second tranche closing on or before March 6, 2026, the second tranche is expected to include the sale and issuance of $4 million in shares of convertible preferred stock.
KEY QUOTES:
“Gibson SOLA is game-changing technology that delivers on our vision of true on-demand overnight synthesis, allowing researchers to accelerate their timelines and stop sharing proprietary data with external service providers. This financing gives us a strong balance sheet with no debt, and sufficient capital to reach cash-flow breakeven while continuing to serve existing customers and expanding adoption of this next-generation platform.”
– Eric Esser, President and CEO of Telesis Bio
“Telesis Bio is a true innovator in the synthetic biology space and the only company offering a proven, scalable on-site synthesis solution. The platform, powered by Gibson SOLA technology, delivers tremendous customer value and we are excited by the future growth prospects for the company.”
– Paul Meister, Partner, Novalis LifeSciences
