Scienion has agreed to a cash and share acquisition by Cellink two decades after emerging from Max Planck Institute for Molecular Genetics.
Scienion, a Germany-based precision dispensing technology spinout of Max Planck Institute for Molecular Genetics, has agreed to an acquisition for €80m ($93m) by biotechnology firm Cellink.
The deal will consist of $46.5m in cash and another $46.5m in newly issued shares. The transaction is expected to close by the end of this month so long as all customary closing conditions are met.
Founded in 2000, Scienion provides instruments, consumables and services for low-volume precision dispensing and biosensor technologies. Applications for Scienion’s product suite range from colon cancer tests to detecting antibiotics in milk and analysing water quality.
Cellink expects Scienion’s offering to complement its own technology, which consists of bioinks and bioprinters to culture cell types for applications such as patient-derived implants.
complementary, enabling growth and bringing it closer to the patient.
Scienion’s management will remain in place following the acquisition.
Erik Gatenholm, chief executive of Cellink, said: “We are excited to welcome Scienion to the Cellink family of life-science companies with this strategic and synergistic acquisition.
“With this acquisition, we are further realising Cellink’s vision to create the future of medicine by taking one step closer to the clinic and improving health around the world.”
Scienion raised more than $5.7m a 2006 funding round co-led by NRW.Bank, S-Venture Capital Dortmund and existing shareholder Peppermint Financial Partners, with participation from KfW’s ERP Start Fonds and IBB’s VC Fonds Berlin as well as unnamed, existing backers.
The spinout had already obtained $5.6m in funding from undisclosed investors in 2001.