NEW YORK — Bioprinting technology developer Cellink said today that it has signed an agreement to acquire Cytena of Germany for €30.3 million ($33.8 million) in cash and stock.
Cytena, which was spun out of the University of Freiburg's Institute for Microsystems Technology in 2014, has developed a printer technology that allows users to isolate and dispense single cells for genomics research and clonal cell line development for biopharmaceutical production. Earlier this year, the company closed a €3 million Series A financing round.
According to Boston-based Cellink, the acquisition will complement its portfolio of bioink, bioprinters, rapid dispensers, and live cell imaging systems for creating and tracking human tissues and 3D cell culture models.
Under the terms of the deal, Cellink will acquire Cytena for €11.4 million in cash and 674,678 newly issued shares valued at €18.9 million. The transaction will give Cytena's shareholders a roughly 5 percent voting stake in Cellink and about 7 percent of the firm's share capital. Following the acquisition, Cytena will retain its current management.
Additional terms were not disclosed.
"We are furthering Cellink's global commercial strategy by focusing on the pharmaceutical industry and providing the most innovative solutions to researchers around the world," Cellink CEO Erik Gatenholm said in a statement. "With Cytena's revolutionary technology platforms, we will streamline workflows for our present and future customers, and enhance our presence in the pharmaceutical industry."