BICO has acquired all the shares in San Diego-based Allegro 3D for an up-front enterprise value of USD 6 million.
Additionally, the shareholders can receive USD 5 million in an earnout payment contingent on Allegro 3D’s financial performance in the coming two years. The entire purchase price will be paid in cash. Allegro 3D’s patented light-based printing technology will be commercialized by CELLINK and is a strong complement to the existing offering of application-tailored products, as the technology will allow customers greater ability to increase precision and scale their output of bio-fabricated constructs for regenerative medicine and drug discovery purposes, states the company.
“The acquisition of Allegro 3D is in-line with our M&A strategy of add-on acquisitions where Allegro 3D complements CELLINK’s product portfolio strongly and can quickly be integrated into the current product offering and commercialization infrastructure,” says BICO Head of M&A Jacob Thordenberg.
Integrated into the commercial structure of CELLINK
The company will remain an independent entity but will be integrated into the commercial structure of CELLINK, another company in the BICO bioprinting business area.
“Allegro 3D’s products are an exciting complement to the existing CELLINK portfolio, enabling us to provide researchers with a groundbreaking system catering greatly to the regenerative medicine and drug discovery areas of research,” says CELLINK CEO, Cecilia Edebo. “We look forward to working alongside Dr. Chen and the Allegro 3D team to continue to provide the best products in the industry.”
Photo: Cellink Lab