Telesis Bio Inc. announced a focus in strategy enabled by the commercial availability of its groundbreaking Gibson SOLA platform. Going forward, the company will increasingly concentrate its efforts on expanding the adoption of Gibson SOLA for both DNA and mRNA high throughput drug discovery applications and will specifically target the BioXp automation platform on mRNA synthesis, where the Company believes it has a highly differentiated offering with significant advantages over existing solutions. The Company believes that its Gibson SOLA platform, an industry leading EDS solution, is easily integrated onto many third-party automation platforms as well as the Company?s own BioXp system, and enables the synthesis of high-fidelity synthetic oligonucleotides, genes, and transfection-ready mRNA at a wide range of scales as quickly as overnight.

This accelerated synthesis capability allows researchers to identify, screen and optimize complex constructs in as little as 2 days with more consistent and reliable results and much greater control. To solidify its position as a leader in on-demand synthesis of DNA and mRNA, Telesis Bio has implemented the following actions: Increased commercial focus on the Gibson SOLA platform. In support of this initiative the Company has secured a co-development and marketing agreement with one of the industry?s leading automation providers and anticipates entering into additional similar agreements in the future.

Gibson SOLA can deliver on-demand DNA and mRNA in 1 ? 2 days, enabling high throughput production at near 100% fidelity in unprecedented time. 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 customers to continue their discovery within days as opposed to weeks. 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.

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.