Telesis Bio Secures up to $21 Million to Accelerate Adoption of Groundbreaking Gibson SOLA Technology for Rapid DNA and mRNA Synthesis

In This Article:

SAN DIEGO, March 18, 2025--(BUSINESS WIRE)--Telesis Bio, a leading provider of DNA and mRNA synthesis solutions to accelerate therapeutic discovery with fast and flexible on-site automated foundries, today announced that it has entered into a convertible preferred stock purchase agreement (the 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 approximately $21 million.

The Company’s recently launched proprietary next-generation enzymatic synthesis platform, Gibson SOLA™, allows customers to take full control of 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 allows customers to use standard automated liquid handling equipment to perform overnight synthesis of long, complex constructs necessary for biologics, vaccine and cell therapy research and development.

"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," said Eric Esser, President and CEO of Telesis Bio, adding, "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."

"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," said Paul Meister, Partner, Novalis LifeSciences.

Financing

The Purchase Agreement provides for the sale and issuance of convertible preferred stock in two closings (the initial tranche and the second tranche). 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.