Atlas Data Storage Secures $155M in Series Seed Financing
Deal News | May 06, 2025 | Paul Hastings
Paul Hastings LLP advised Deerfield Management in the $155 million Series Seed financing round for Atlas Data Storage, a newly established company concentrating on DNA data storage technology. Atlas is a spin-out from Twist Bioscience Corporation. The financing signifies a strategic investment by Deerfield Management in innovative data storage solutions. The legal advisory team from Paul Hastings included partner Samuel Waxman, associate Adam Winer, and legal intern Maximilian Diehl. Paul Hastings is known for its global expertise in asset management and investment banking legal services.
Sectors
- Biotechnology
- Legal Services
- Investment Management
Geography
- United States – Relevant geography as the entities involved, including Paul Hastings, Deerfield Management, and Twist Bioscience, are based in the US.
Industry
- Biotechnology – Relevant because Atlas Data Storage is focused on DNA data storage, a cutting-edge technology derived from biotechnology.
- Legal Services – Relevant due to Paul Hastings’ role in advising on the investment deal.
- Investment Management – Relevant as Deerfield Management is an investment firm involved in the financing round.
Financials
- $155 million – The amount raised by Atlas Data Storage in Series Seed preferred stock financing
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Atlas Data Storage | Target Company | Company | A newly formed company focused on DNA data storage technology. |
| Deerfield Management | Investor | Company | Investment firm providing Series Seed financing for Atlas Data Storage. |
| Twist Bioscience Corporation | Parent Company | Company | The parent company from which Atlas Data Storage was spun out. |
| Paul Hastings LLP | Legal Advisor | Company | Law firm advising Deerfield Management on the investment deal. |
| Samuel Waxman | Partner | Person | Partner at Paul Hastings involved in advising the deal. |
| Adam Winer | Associate | Person | Associate at Paul Hastings involved in advising the deal. |
| Maximilian Diehl | Legal Intern | Person | Legal intern at Paul Hastings involved in advising the deal. |