CELLINK, a Swedish 3D bioprinter manufacturer, announced the acquisition of Nanoscribe, a manufacturer of two-photon polymerization (2PP) 3D printers.
Through this transaction of 50 million euros in cash, shares and earnings, CELLINK will fully control Nanoscribe, while integrating 2PP technology into its own technology to achieve more realistic soft tissue manufacturing. With its new miniaturization capabilities, the company is also expected to be able to reduce the lead time and cost of its product line, and in addition to expand the consumables it provides.
"CELLINK CEO Erik Gatenholm said: "With Nanoscribe's most advanced 2PP technology, we will complement our product portfolio and provide a wider range of products for our amazing customers. "We are combining our strong, goal-oriented growth agenda with pioneering bioconvergence technologies in order to improve the health of the world."
"Through this strategic acquisition of nanoscribe, we will further strengthen our market leadership in the field of 3D bioprinting."
Nanoscribe's 2PP 3D printing technology can create ultra-fine microstructures.
CELLINK`s "Biological Convergence" Strategy
When CELLINK was established in 2016, it was established as a developer of 3D bioprinting technology. Since then, the company has launched six systems, including SLA-based Holograph X and six print head BIO X6. Recently, however, the company has shifted its focus to expanding its market and technology portfolios that it can handle, and at the same time began to implement a "bioconvergence" strategy focusing on acquisitions.
In order to achieve its stated goal of "utilizing life sciences collaborative breakthroughs" to bring medical advancement, the company acquired Scienion in August 2020 for 80 million euros. Essentially, this transaction allowed CELLINK to increase its market penetration in the pharmaceutical field and gain a firm foothold in the diagnostic field.
In March 2021, the company subsequently acquired MatTek for US$68 million, which gave it access to new in vitro technologies that could speed up its workflow and advance its 3D bioprinting research. Now, with the acquisition of Nanoscribe, CELLINK has also added 2PP technology to its investment portfolio, which can enable it to develop into the fields of micro optics and photonics.
CELLINK acquired Scienon for 80 million euros last year as part of its broader "bioconvergence" strategy.
Detailed introduction of CELLINK`s 50 million euro transaction
In its latest acquisition agreement, CELLINK agreed to purchase all outstanding shares of Nanoscribe in a cash and debt-free manner through a structured payment of 50 million euros. Of the purchase price, 22.1 million euros will be paid in cash, 11.9 million euros will be provided in newly issued shares, and 16 million euros through performance-related incentives, depending on the company's financial goals for 2021-2023.
After the transaction is completed, Nanoscribe will still maintain the same brand and leadership, but its financial status will be merged into CELLINK from the second quarter of 2021. For the 2021 fiscal year, Nanoscribe expects a turnover of 15.4 million euros, and in the future, CELLINK is expected to generate recurring revenue through its new implants, microneedles, membranes and full energy-consuming material product lines.
At the CELLINK shareholders meeting last month, its board of directors formally approved the acquisition. The company stated that its current goal is to "complete the transaction as quickly as reasonably possible." Hengeler & Müller, Duff & Phelps, and Zacco have already Arranged as an adviser for this transaction and supervised its completion.
Combine 2PP and bioprinting
Nanoscribe was founded in 2007 by scientists from the Karlsruhe Institute of Technology (KIT), specializing in the development of nano, micro and mesoscale 3D printers and materials. The company's proprietary 2PP technology is capable of manufacturing tiny ultra-high-resolution objects with a detail of only 200 nanometers, which has great potential in optical and electronic applications.
Through the acquisition of Nanoscribe, CELLINK's goal is to become the first company in the industry to integrate 2PP technology into its existing 3D bioprinting equipment, and to develop a subcellular-scale vascular microenvironment, which is very useful in cell research. It is also the basis of a series of new-type laboratory equipment on a chip.
Consistent with the company's broader bioconvergence strategy, this move is also expected to further promote its research and development of realistic soft tissue structures that show greater cell viability. In fact, CELLINK stated that the life sciences industry is undergoing a "very exciting transformation" in which miniaturization helps reduce the bottleneck of gene sequencing.
Therefore, using its newly acquired 2PP capabilities, the company can reduce the preparation steps required in single-cell genomics and accelerate its bioprinting workflow, and it has identified several "strong synergies" with Nanoscribe, which It will promote the "cross-functional adoption" of 2PP in its business.
"Nanoscribe CEO Martin Hermatschweiler concluded: "We are proud of our state-of-the-art 2PP technology and provide our customers with the tools to realize their breakthrough ideas. "We are very looking forward to joining the CELLINK Group, exploring the possibilities of 2PP technology together, and realizing the group's vision of creating future medicine."