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.