Bioprinting company CELLINK has announced it has entered into an agreement with life science company cytena GmbH to acquire all of the company’s shares for €30.25 million (roughly $33.87 million). The acquisition is expected to bolster CELLINK’s commercial strategy and strengthen its product offering.
cytena was founded in 2014 as part of the Institute for Microsystems Technology (IMTEK) at the University of Freiburg. The company, which specializes in single-cell technologies, is primarily known for selling solutions for handling biological cells as well as its patented single-cell printer technology, which is capable of isolating and dispensing single sells in a “documented, gentle and sterile” process.” Since launching the printer in 2015, cytena has become well known in the biomedical field, as many of the top pharmaceutical companies rely on its single-cell printers to produce clonal cell lines for manufacturing biologicals.
“We are excited to welcome cytena to the CELLINK family of life-science companies with this strategic acquisition,” commented Erik Gatenholm, CEO of CELLINK. “We are furthering CELLINK’s global commercial strategy by focusing on the pharmaceutical industry and providing the most innovative solutions to researchers around the world.
“With cytena’s revolutionary technology platforms we will streamline workflows for our present and future customers, and enhance our presence in the pharmaceutical industry, a strategy that is well aligned with our vision. Together with Dispendix and cytena, we will be well-positioned to offer comprehensive solutions for both academic and pharmaceutical customers worldwide.”
The acquisition of cytena is expected to bring CELLINK closer to offering a complete 3D cell culturing solution and its single-cell printer will complement and enhance its existing product portfolio. Notably, CELLINK plans to leverage cytena’s position in the pharmaceutical industry to make further inroads into the market.
The acquisition deal recently signed by CELLINK and cytena’s owners stipulates that the purchase will be paid partly in cash and partly in CELLINK shares. The Swedish bioprinting company estimates that cytena’s turnaround will be approximately €4.5 million in the 2019 calendar year with an EBITDA-margin of approximately 40%.
“We are extremely looking forward to being part of the CELLINK family,” added Jonas Schoendube, CEO of cytena. “In CELLINK we have found a great partner, which shares our vision for the company and will help us to further accelerate cytena’s growth. We see interesting synergies in marketing, sales and R&D between all four group member companies: cytena GmbH in Germany, cytena Bioprocess Solutions Co. Ltd. in Taiwan, CELLINK in Sweden and the US, as well as Dispendix GmbH in Germany. Our customers and partners will benefit from an extended product offering and a stronger global presence.”