Cytena GmbH Announces That It Has Been Entered into an Agreement to Be Acquired by CELLINK
FREIBURG, Germany, August 05, 2019 / B3C newswire / -- The owners of Cytena GmbH ("Cytena") have agreed to sell all Cytena shares to CELLINK AB ("CELLINK") for a purchase price of 30.25M euros ("acquisition"). Through CELLINK’s complimentary technology offering cytena sees great synergies that will support and accelerate future growth of Cytena. An extended product offering and a stronger global presence are just some of the benefits for our Cytena’s customers and partners.
Background and motivation for the acquisition
Through this strategic acquisition, CELLINK expands its technology portfolio, supporting further expansion into the pharmaceutical industry. CELLINK offers bioink, bioprinters, rapid dispensers and live cell imaging systems that enable creation and monitoring of human tissues and 3D cell culture models. Cytena’s single-cell dispensing platform enables pharmaceutical companies to develop antibodies and cell lines and offers a great complement to CELLINK’s 3D bioprinting technologies.
The companies’ synergies enable greater market opportunities for Cytena’s and CELLINK’s product portfolio and global sales forces. The products are well-suited to be sold together to Cytena’s and CELLINK's existing customer base.
- 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 in 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.
- 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 will remain under current entity and management post-transaction.
" 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. We see interesting synergies in marketing, sales and R&D between all four group member companies: cytena GmbH in Germany, cytena Bioprocess Solutions Co. Ltd. in Taiwan, CELLINK in Sweden and the US, as well as Dispendix GmbH in Germany. Our customers and partners will benefit from an extended product offering and a stronger global presence."
Dr. Jonas Schoendube, CEO, Cytena.
"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. Together with Dispendix, we will be well-positioned to offer comprehensive solutions for both academic and pharmaceutical customers worldwide."
Erik Gatenholm, CEO, CELLINK.
Cytena is a life science company focusing on single cell technologies. Cytena was founded in 2014 from the Institute for Microsystems Technology (IMTEK) at the University of Freiburg, and primarily sells solutions for handling biological cells. The Cytena team has developed a patented single-cell printer™ technology, which enables users to isolate and dispense single cells in a documented, gentle and sterile process. The single-cell 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 top ten pharmaceutical companies use Cytena’s single-cell printers to produce clonal cell lines for manufacturing biologicals, such as antibodies.
CELLINK is the leading 3D bioprinter provider and the first bioink company in the world. We focus on developing and commercializing bioprinting technologies to allow researchers to print human organs and tissues for pharmaceutical and cosmetic applications. Founded in 2016 and active in more than 50 countries, CELLINK is changing the future of medicine as we know it. Visit www.cellink.com to learn more. CELLINK is listed on Nasdaq First North under CLNK. Erik Penser Bank AB is the company’s certified adviser, available by phone at +46 846 383 00 and by email at email@example.com.
Arvid Wallgrens Backe 20
Erik Gatenholm, CEO
Phone: EU +46 73 267 00 00
US +1 (650) 515 5566
Gusten Danielsson, CFO
Phone: +46 70 991 86 04
US +1 (857) 332 2138
Published by B3C newswire and shared through Newronic®