Cellink has entered into an agreement with the shareholders of Ginolis to acquire all shares for a purchase price on cash- and debt-free basis of EUR 70 million.
Ginolis is a Finnish company focusing on diagnostics automation and advanced robotics solutions for medical and diagnostic industries, according to Cellink’s press release.
“With this strategic acquisition of Ginolis, we are further realizing Cellink’s bioconvergence vision and to create the future of medicine by taking one step closer to the patients and improving healthcare around the world. Ginolis’ advanced robotics and diagnostics automation for medical device and diagnostic industries can be fully integrated with Cellink’s current offering and our present and future customers workflows and needs,” says Erik Gatenholm, CEO, Cellink.
Forty percent of the purchase price will be paid in newly issued shares of series B in Cellink and the remaining purchase price in cash. Cellink’s Board of Directors will resolve to issue the Consideration Shares in accordance with the authorization from the Extraordinary General Meeting held on December 17, 2020.
“The cutting-edge modularity of the Ginolis robotics makes the platforms ideal for scale-up of bioprinting systems and product offerings, enabling strategic and industrial expansion of our bioprinting capabilities to pharma and biotech customers; a mission the Group committed to two years ago.”
“The Group’s offering will be strengthened by synergies in workflows that automates precision-oriented manufacturing of microfluidic and lateral flow IVD tests; known as PoC tests, the capacity to deliver large-scale automation to customers in medical technology, diagnostics, as well as industrial scale bioprinting and tissue manufacturing. The cutting-edge modularity of the Ginolis robotics makes the platforms ideal for scale-up of bioprinting systems and product offerings, enabling strategic and industrial expansion of our bioprinting capabilities to pharma and biotech customers; a mission the Group committed to two years ago. Many of the great tools offered by Ginolis will ensure higher quality bioprinting experiments and results, faster throughput of printed tissues, and more reliable and reproducible data. In addition, it is also possible for the Group to further capitalize on the current rapid growth in the application area of PoC-tests where Ginolis is currently manufacturing Covid-19 tests in the U.S. and Europe,” says Gatenholm.
Read more: Interview Erik Gatenholm, CEO, Cellink
“Over the last 11 years we have developed a strong foundation and built well-renowned customer relationships within our industry. As current partner to Cellink we are well acquainted with the culture, the technology – and innovation driven agenda as well as the Group’s high ambitions. We look forward to be a part of the Group’s bioconvergence vision and to bring our expertise, products and workflows to a wider audience,” says Teijo Fabritius CEO, Ginolis.
Photo of Erik Gatenholm: Cellink
Source: Cellink press release