Telesis Bio Inc. announces strategic focus on game-changing Gibson SOLA enzymatic DNA synthesis (EDS) platform and BioXp mRNA solutions and announces new leadership - Seite 2

2. Focused the BioXp system on mRNA synthesis workflows. The Company’s BioXp system and mRNA synthesis kits provide a best-in-class, and highly differentiated solution for the rapid benchtop synthesis of high quality, transfection-ready mRNA in 7 days, enabling our customers to continue their discovery within days as opposed to weeks.

3. Expanded the BioXp selling channel to broaden reach and provide easier access to its advanced benchtop synthesis technology. The Company has recently expanded its commercial channel to offer BioXp 3250 and 9600 benchtop synthesis solutions through a non-exclusive distribution agreement with Avantor, a leading supplier of life sciences instrumentation and reagents.

4. Restructured operations that resulted in incremental cost savings. As a result of this restructuring, and consistent with the company’s more focused commercial efforts, operating expenses exclusive of goodwill impairment were reduced significantly from $14.3 million in the fourth quarter of 2022 to $10.8 million in fourth quarter of 2023 resulting in additional annualized cost savings, extending its cash runway and providing the company with time to focus on raising additional capital to support operations as it seeks to achieve cashflow breakeven.

The company also announced today that Todd R. Nelson Ph.D., Founder and CEO of Telesis Bio, who led the Company through a period of transformative growth for the past 5 plus years, will no longer be the Company’s CEO and will transition to a board-only role. Effective immediately, Eric Esser, President and COO of Telesis Bio, will assume the role of the company’s CEO and will join the company’s board of directors.

The company’s Chairman, Dr. Frank Witney stated “we want to thank Todd for his entrepreneurial vision and strategy, commitment to excellence and executive leadership since the company’s inception in 2019.” Dr. Witney continued “Eric is a proven leader and the right person to lead Telesis Bio in its next chapter, and, having successfully run Telesis Bio operations for the past two years, he brings a deep understanding of our customers, operations, and people, and will hit the ground running.”

“I’m thrilled to step into the CEO role and honored to lead this talented team as we focus on realizing the potential of Gibson SOLA EDS and BioXp mRNA synthesis solutions to transform our customer’s discovery workflows and manage operations to increase shareholder value,” said Esser.