BICO has acquired all outstanding shares in Advanced BioMatrix, an American company focusing on 3D research applications.
The Advanced BioMatrix portfolio includes collagen bioinks, high purity extracellular matrix proteins, chemically modified proteins and polysaccharides, and other reagents and cell assays, sold to research institutions, and pharmaceutical and biotech companies. The company has a particularly strong position in reagents and in producing high-quality collagen and collagen inks intended for 3D bioprinting.
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. The sellers may also receive a maximum additional earn out of USD 3 million in cash based on milestones over a three-year period.
“Strengthen our position in the area”
“This means that we further strengthen our position in the area, and we can continue to develop innovative consumables that our customers benefit from throughout their customer journey. Combining technical expertise between the BICO Group and Advanced BioMatrix also enables faster development of innovative biomaterials for various bioprinting applications. Together, we will develop and offer innovative products that over time will lead to us being able to together solve the major health challenges we face,” says Erik Gatenholm, CEO, BICO.
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.
Photo of Erik Gatenholm, CEO, BICO