On August 26, 2020, Swedish 3D bioprinter and material developer CELLINK has begun to acquire Scienion, a precision dispensing 3D printing company, with a transaction value of 80 million euros (about 650 million yuan).
The acquisition is expected to take place at the end of August 2020. CELLINK will pay 40 million euros for newly issued shares, plus 40 million euros in cash to obtain full control of Scienion. Through this acquisition, CELLINK expands its business scale, increases its market penetration in the pharmaceutical field, and expands into the diagnostic field.
CELLINK CEO Erik Gatenholm said: "We are very pleased to welcome Scienion to join the CELLINK life sciences family through this strategic acquisition. Through this acquisition, we will further realize CELLINK’s vision, one step closer to clinical practice, and improvement. The health of the world creates the future of medicine."
"We are further advancing CELLINK's global business strategy by providing our customers with the most innovative solutions."
CELLINK continues to expand
CELLINK was founded in 2016 and is now headquartered in Boston, USA. It is a global life science company that provides 3D bioprinting technology, products and services. It has more than 1,000 laboratories in 55 countries, allowing researchers to 3D print human organs and tissues. , Used in pharmaceutical and cosmetic applications.
CELLINK produces and sells a series of 3D bio-printers, including the dual-extrusion INKREDIBLE system and SLA-based Holograph X, the latest desktop machine 6 print head BIO X6, which allows a combination of materials, cells and tools. BIO X6 has a replaceable print head system and patented clean room technology, and also encourages advanced research through cell production.
After cooperating with Pirellis Biologics and Volumemetric to develop Holograph X and BIO X systems, CELLINK continued to cooperate to expand its technical reserves. In a project with French regenerative medicine company CTI BIOTECH, CELLINK printers were used to study new treatments for cancer patients. In collaboration with the aerospace company Made in Space, they also studied the potential applications of bioprinting on the International Space Station (ISS).
After acquiring Scienion, CELLINK took a more direct approach to expand its product line. By incorporating Scienion's pico and nanoliter cell distribution capabilities, CELLINK's goal is to enter new markets in the clinical treatment industry.
Through the acquisition of Scienion, CELLINK will put precision dispensing technology into the bag
80 million euro acquisition transaction
CELLINK’s acquisition of Scienion did not incur any debts. Both parties win-win and cross-shareholdings provide Scienion shareholders with the opportunity to retain their influence on the company. CELLINK will only pay the first cash fee of 40 million euros.
According to the voting rights and the proportion of shares, Scienion shareholders will now hold 4.9% of the voting rights of CELLINK and 6.5% of the shares. The newly issued shares will be banned for a total of 30-36 months.
Dr. Holger Eickhoff, CEO of Scienion said: "We are excited about the unique opportunities we will create for global customers, employees and business partners. CELLINK Group and Scienion will jointly achieve rapid expansion while providing customers with the quality, brand and products that customers love. ."
CELLINK's board of directors was authorized to issue consideration shares at the company's annual general meeting. Given that the meeting took place on December 18, 2019, CELLINK has prepared at least 9 months for the acquisition of Scienion. After the completion of the transaction at the end of August, CELLINK is considering raising additional equity through a single private issuance of shares to continue to fund expansion.
CELLINK and Scienion's cooperation vision
After the completion of the acquisition transaction, Scienion’s management and brand management remain unchanged, closely linked to CELLINK’s broader business strategy, and based on its product portfolio to support future growth in the pharmaceutical and therapeutic fields.
Scienion's business model is similar to CELLINK, and its products are targeted at companies in the diagnostic and pharmaceutical fields of CELLINK's target market. Incorporating Scienion's product and R&D capabilities will also enable CELLINK to manage the production workflow from start to finish. In addition, the two companies have similar customer bases, so future products released can be easily marketed together.
"Scienion has established a global leading position in the field of precision dispensing. Industrial systems are able to dispense reagents and human cells extremely accurately," Gatenholm concludes. "With the help of Scienion's revolutionary technology platform, we will simplify the workflow for current and future customers and increase our influence in the clinical field."