BICO Acquires Allegro 3D
BICO has acquired all shares in San Diego based Allegro 3D LLC for an enterprise value of 11 MUSD, including an earnout component of 5 MUSD contingent on Allegro 3D’s financial performance in the coming two years. The entire purchase price will be paid in cash.
Allegro 3D, founded by Dr. Wei Zhu and Dr. Shaochen Chen, a pioneer in the field of Digital Light processing (DLP) based printing is an emerging force within the Bioprinting industry. Their DLP based bioprinting technology enables high-throughput manufacturing of biomedical devices, and precision human tissues for cell culture, drug screening, and regenerative medicine applications.
Rationale for the Acquisition
The Acquisition is in line with BICO’s commercial agenda to provide technologies and sustainable solutions that bring us closer to a world where on-demand tissue is a reality, reducing the challenges created by organ shortages and reducing the dependency on animal models.
Patented technology that rapidly increases the throughput in bioprinting
The addition of Allegro 3Ds bioprinting portfolio brings a tremendous injection in opportunities to scale operations for bioprinting customers. Given the high throughput nature of the technique, researchers will be able to increase their output of biofabricated constructs. With a “masskless” printing mechanism, the Allegro 3D portfolio enables high precision and high speed bioprinting that is tailored for multi-well printing. Providing life sceince companies, the exact features required for developing tissue constructs for regenerative medicine and drug testing workflows.
With Allegro 3D, BICO continues to add complimentary bioprinting methods to the group. Adding to the CELLINK portfolio enables the company to strengthen its position as the global leader in providing bioprinter’s. With a robust portfolio of extrusion, 2PP and DLP printers, Allegro 3Ds patented printing technology is a strong compliment to CELLINK’s existing offer of application tailored products.
"Facilitating continuous growth of BICO’s footprint in the bioprinting market"
“For many years CELLINK has set the standard for providing the Tissue Engineering and Regenerative Medicine researchers advanced bioprinters that accelerate significant advancements in their fields. The addition of Allegro 3D’s exceptional portfolio, complimented by CELLINK’s extensive industry knowledge and commercialization power will further facilitate the continuous growth of BICO’s footprint in the bioprinting market. Providing researchers tools to better capture the in vivo environment to effectively understand and master biology.”
Erik Gatenholm, CEO and co-founder of BICO
"Providing researchers with the right technology for their goals."
“Allegro 3D’s products are a perfect compliment to the existing CELLINK portfolio, enabling us to provide researchers with a wide range bioprinting technologies but more importantly, the right technology for their research goals. We look forward to working alongside Dr. Zhu and his team to continue to provide the best products in the industry” adds CELLINK CEO, Cecilia Edeobo.
Cecilia Edebo, CEO of CELLINK