11:40 AM EDT, 08/05/2024 (MT Newswires) -- Twist Bioscience ( TWST ) rallied Monday after the synthetic genetics company said it was partnering with privately held biotechnology company bitBiome to create and market a new screening kit used by laboratories and drug makers to identify transaminase enzymes and synthesizing active pharmaceutical ingredients.

The new screening kit combines bitBiome's proprietary database of over two billion microbe sequences with Twist's high-capacity synthesis technology to create a new process for enzyme engineering. The kit also features a unique set of transaminases that can be used by labs and pharmaceutical companies as an alternative to conventional chemically synthesized processes, creating a "green" alternative for pharmaceutical companies to conventional synthesis during drug development, Twist and bitBiome said.

The companies also said they eventually see creating a complementary service where customers can order specific sequences and using their combined capacities to identify unique enzymes and protein molecules.

Financial terms of the collaboration agreement between Twist Bioscience ( TWST ) and bitBiome were not disclosed.

Twist Bioscience ( TWST ) shares were up more than 7% during midday trading on Monday.

Price: 46.20, Change: +3.23, Percent Change: +7.52