Swedish 3D bioprinting company CELLINK has today announced it has acquired German biodispensing tech company Dispendix GmbH for €5 million. The deal will see CELLINK buy all of Dispendix’s shares and add the company’s technologies to its own bioprinting solutions.
Dispendix’s technology, its patented Immediate Drop on Demand Technology (IDOT), is designed to speed up drug testing processes. The IDOT process itself was developed over the course of 10 years at the Fraunhofer Institute, and Dispendix launched the platform’s first commercial product in 2017, the I-DOT One. This product has a range of dispensing applications, including Cell Dispensing, Matrigel Dispensing, Array Generation and more.
In acquiring the German company, CELLINK will add Dispendix’s technology to its own portfolio (which includes the Bio X printer and various bioinks) to increase the dispensing rate of bioinks. IDOT’s ability to dispense single cells will also enable CELLINK and its clients to build micro tissues faster and more reproducibly.
“Our innovative products for non-contact, high throughput dispensing and CELLINK ́s comprehensive bioprinting technologies will [extend] and provide additional applications to researchers in the life science industry,” said Harry Boeltz, CEO and Co-founder of Dispendix. “Customers will benefit from a united company that has a common passion for the commitment to outstanding service and support.”
Dispendix’s products will reportedly fit seamlessly into CELLINK’s bioprinting portfolio and will be targeted primarily towards pharmaceutical companies, which will benefit from rapid bioink dispensing. Through the acquisition, CELLINK aims to increasingly hone in on the pharmaceutical market.
“With this strategic acquisition, we are looking forward to taking a new step in CELLINK’s development focusing on the pharmaceutical industry,” said Erik Gatenholm, CEO of CELLINK. “The Dispendix technology platform complements CELLINK’s product range well and increases the uses of our innovative bioink through higher reproducibility and the ability to print more relevant tissue structures. Together, both companies to be stronger and able to offer a more comprehensive solution for both academic and pharmaceutical customers worldwide.”
The €5 million acquisition will be paid out partly in cash (€2M) and partly through CELLINK shares. As per the deal, the shares will be covered by a three-year lock-up (100% of the shares will be under lock-up for one year, 70% for two years and 40% for three years).
CELLINK has stated that it believes the addition of Dispendix to its business will add about €1.16 million (SEK 12 million) to the new group’s net sales in the 2018/2019 financial year. Dispendix estimates to have a profit-neutral impact on the group during the same financial year, as the company is focusing on the development of new products.