CELLINK AB, a Swedish Bio-Tech Startup, announced that it is entered into an agreement to acquire a german life-science company ‘cytena’, for 30 Million euros. CELLINK aims to leverage cytena’s complementary technology to support its future growth.
Through this strategic acquisition, CELLINK expands its technology portfolio, supporting further expansion into the pharmaceutical industry.
cytena was founded in 2014 within the Institute for Microsystems Technology (IMTEK) at the University of Freiburg. The German life science company focuses on single-cell 3D printing technologies and primarily sells solutions for handling biological cells.
The cytena team has developed a patented single-cell 3D printer™ technology, which enables users to isolate and dispense single cells in a documented, gentle and sterile process. The single-cell 3D printers have been manufactured in Germany since 2015 and are marketed worldwide. In 2018, the x.sight™ series was added to the company’s product portfolio. Most of the top ten pharmaceutical companies use cytena’s single-cell 3D printers to produce clonal cell lines for manufacturing biologicals, such as antibodies.
CELLINK purchased 100% shares of cytena and including a net cash position of 2.9M euros. The acquisition will be paid partly in cash (11.4M euros) and partly through CELLINK shares (18.85M euros). CELLINK estimates that cytena’s turnaround will be approximately 4.5M euros in the 2019 calendar year with an EBITDA-margin of approximately 40%.
The acquisition will strengthen CELLINK’s position in the market and bring multiple strategic advantages like mentioned below:
- The acquisition is in line with CELLINK’s commercial strategy, strengthening CELLINK’s product offering and providing a more complete 3D cell culturing solution.
- cytena’s technology platform allows dispensing of single cells, enabling researchers to isolate cells for cell line development and build microtissues faster and more reproducibly.
- cytena’s products fit well within CELLINK’s current product portfolio and will enhance the group’s product offering.
- cytena’s products are most suitable for pharmaceutical companies, an area and market which CELLINK has communicated interest in expanding further into. With this acquisition, CELLINK aims to increase market penetration in the pharmaceutical field.
- cytena’s products are based on patented single cell dispensing technologies, providing both protection and freedom to operate.
Speaking about the acquisition, Erik Gatenholm, CEO, CELLINK explained, “We are excited to welcome cytena to the CELLINK family of life-science companies with this strategic acquisition. 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. With cytena’s revolutionary technology platforms we will streamline workflows for our present and future customers, and enhance our presence in the pharmaceutical industry, a strategy that is well aligned with our vision.”
Similar excitement was on display from Jonas Schoendube, CEO, cytena as well who commented, “We are extremely looking forward to being part of the CELLINK family. In CELLINK we have found a great partner, which shares our vision for the company and will help us to further accelerate cytena’s growth.”
The companies’ synergies enable greater market opportunities for CELLINK’s and cytena’s product portfolio and global sales forces. The products are well-suited to be sold together to CELLINK’s existing customer base.
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