Scienza e Tecnologia
BICO has acquired Advanced BioMatrix, an innovative company focused on 3D applications, to, together, ensure a market leading portfolio of bioinks and reagents
BICO has acquired all outstanding shares in Advanced BioMatrix for a purchase price on a cash and debt-free basis of approximately USD 15 million , provided that the working capital upon completion of the transaction corresponds to the normalized working capital. The sellers may also receive a maximum additional earn out of USD 3 million in cash based on milestones over a three-year period.
Advanced BioMatrix was founded in 2008 and is based in San Diego, California , US. Combining the BICO Group and Advanced BioMatrix innovative offerings ensures a market-leading product portfolio in bioinks and reagents. Together the companies can also develop innovative application offerings to meet customers' future needs and demands, which also shows the strength of BICO's business model.
Advanced BioMatrix also has a broad portfolio of products for 3D applications including cell cultivation, cell assays and bioprinting, as well as a strong tradition of innovation with an ambitious R&D agenda. Advanced BioMatrix international customer base consists mainly of leading pharmaceutical companies and research institutions. The company's products are used, for example, in advanced research in the development of new drugs or 3D bioprinted tissue models. The company, like BICO, has a strong focus on IP.
" " Erik Gatenholm, CEO, BICO.
" ". David Bagley, President, Advanced BioMatrix.
Advanced BioMatrix will, post-transaction, remain under current legal entity and management as a subsidiary of CELLINK Bioprinting and become part of the Bioprinting business area. Advanced BioMatrix will be integrated in the financial reporting as of August 2021 . Advanced BioMatrix obtained approximately USD 3 million , with an adjusted EBITDA margin of around 50% in their latest fiscal year.
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Founded in 2016, BICO (formerly CELLINK) is the leading bio convergence company in the world. By combining different technologies, such as robotics, artificial intelligence, computer science, and 3D bioprinting with biology, we enable our customers to improve people's health and lives for the better.
With a focus on the application areas of bioprinting, multiomics, cell line development, and diagnostics, the company develops and markets innovative technologies that enable researchers in the life sciences to culture cells in 3D, perform high-throughput drug screening and print human tissues and organs for the medical, pharmaceutical, and cosmetic industries. We create the future of health.
The Group's products are trusted by more than 2,000 laboratories, including all the top 20 pharmaceutical companies, are being used in more than 65 countries, and have been cited in more than 2,950 publications. BICO is listed on Nasdaq Stockholm under BICO. www.bico.com
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