Swedish bioprinting company CELLINK has received SEK 10 million in funding (roughly €965,775) from the EU to pursue a bioink development project in collaboration with the Academisch Centrum Tandheelkunde Amsterdam (ACTA). The initiative is called the Functionalized Collagen-based Bioink for 3D Bioprinting project, or FUNC for short.
The FUNC project will take place over the next three years and has a total budget of SEK 19.5 million (€1,883,259). Half of the funding will be provided through Eurostars, a joint project between EUREKA and the European Commission which supports innovative projects led by R&D-performing SMEs that are marketable and have the potential to improve lives around the world.
The FUNC project will be aimed at developing a ready-to-use biofunctionalized collagen-based ink for bioprinting applications. According to CELLINK, the FUNC BIOINK will offer human cells the ideal biomimetic environment to thrive in thanks to the inclusion of peptides which promote cell attachment, spreading and direct differentiation.
The collagen-based bioink will ultimately be used to print a broad range of tissues for a number of different applications. For instance, the biomaterial’s versatility makes it suitable for academic research as well as cosmetic and pharmaceutical applications.
Within the bioprinting market, CELLINK has become something of a force to be reckoned with. In the past year alone, the company has amplified its position in the nascent bioprinting market with the acquisition of Dispendix, the release of many new bioink products and the announcement of a soon-to-be-released high-res holographic bioprinter with Prellis Biologics, Inc.
Not only that, the company has seen impressive financial success, with revenues of over $7 million (196% growth over the previous fiscal year) and a net turnover growth of 245%. Currently, the company offers four extrusion-based bioprinters (the INKREDIBLE, INKREDIBLE Plus, CELLINK GO and the high-end BIO X) and over 30 bioink materials. According to CELLINK CEO Erik Gatenholm, the company’s bioinks are the fastest growing revenue segment.