NEW YORK – Bioprinting technology developer Cellink has signed an agreement to acquire all shares of German precision dispensing firm Scienion for €80 million ($94.8 million).
Under the terms of the deal, Boston-based Cellink will acquire Scienion for €40 million in cash and €40 million in shares through 2,814,032 newly issued shares at a price of SEK 146.6 per share. The transaction will give Scienion's shareholders about a 5 percent voting stake and roughly 7 percent of the firm's share capital. Following the acquisition, Scienion will retain its current management.
Founded in 2000 as a spinout of the Max-Planck Institute for Molecular Genetics, Scienion offers proprietary microarray and ultra-low-volume handling technologies, as well as controlled single-cell dispensing technologies for customers worldwide.
Cellink provides technologies, products, and services for cell and molecular biology with a focus on bioprinting, analysis, and liquid handling/bioprocessing. It said that that the Scienion acquisition will strengthen its product offerings and support future growth into industrial and clinical applications.
"Scienion has diligently built a global leading position in the field of precision dispensing, creating a product portfolio with industrial systems that are capable of extremely precise dispensing of reagents and human cells," Cellink CEO Erik Gatenholm said in a statement. "With Scienion's revolutionary technology platforms, we will streamline workflows for our present and future customers and enhance our presence in the clinical field."
The group expects to complete the acquisition and transfer of Scienion's shares by the end of August.
"Together, the Cellink group and Scienion will be able to achieve rapid expansion while delivering the quality, brands, and products that our customers love," Scienion CEO Holger Eickhoff said in a statement.
Cellink acquired single-cell dispensing firm Cytena last August for €30.3 million.