BICO Group

Bico Group (previously Cellink) is a bioconvergence startup that designs and supplies technologies and services to enhance biology research. It focuses on commercializing technologies for life science research as well as bioprinting, and its products often combine capabilities in artificial intelligence, robotics, multiomics, and diagnostics.[2]

Bico Group
TypePublic
Industry
FoundedJanuary 27, 2016 (2016-01-27) in Gothenburg, Sweden
Founders
Headquarters
Gothenburg
,
Sweden
Area served
Worldwide
Key people
RevenueIncrease 1.26 billion kr (2021)
Decrease −237 million kr (2021)
Decrease −229 million kr (2021)
Total assetsIncrease 9.75 billion kr (2021)
Total equityIncrease 6.77 billion kr (2021)
Owners
  • Erik Gatenholm (15%)
  • Héctor Martínez (10%)
Number of employees
1,150+ (2021)
Websitebico.com
Footnotes / references
[1]

Bico Group (then Cellink) began by producing bio-inks and bioprinters for culturing different cell types to enable applications like patient-derived implants.[3] Bico Group was the first company to provide a standardized bio-ink product for sale over the internet.[4]

The company has ongoing collaborations with organizations including AstraZeneca, MedImmune, MIT and Takara Bio, and its bioprinters are used for research at Harvard University, Merck, Novartis, the U.S. Army, Toyota, Johnson & Johnson and more.[2]

History

Bico Group was founded as Cellink in 2016 by Erik Gatenholm, the company's chief executive, Héctor Martinez, the company's CTO and Gusten Danielsson, the company's CFO.[4] They developed and sold the world's first universally compatible bio-ink to simplify bioprinting for academics and pharmaceutical companies who were, at that time, mixing their own biomaterial in-house.[4][5] The company released its first bioprinter to test the market in 2015, and continued designing additional bio-inks to support more specialized applications in bioprinting.[5]

Ten months after it was founded, Cellink was listed publicly on the Nasdaq exchange First North.[4] At its IPO, shares were oversubscribed by 1070 percent.[5]

As the company's technology makes it possible to print tissues such as skin, liver, and cartilage, its technology also allows printing fully functional cancer tumors which can be used to develop new cancer treatment. In 2018, Cellink received a $2.5 million grant from the EU to fund its TumorPrint project.[6]

In 2017, the company was described as "a world leader in bioprinting". It established a United States headquarters in Boston the same year.[4]

In January 2018, Cellink announced a collaboration with Ctibiotech to boost 3D bioprinting technology for cancer research.[7]

The company's revenue totaled $4.88 million in 2018.[8] As of February 2019, its products are used by more than 600 labs in more than 50 countries.[9]

In August 2021, Cellink underwent a corporate transformation and changed name to BICO, while keeping the Cellink name for their bioprinting business.[10]

Bico Group acquired German biotechnology company Cytena in August 2019 for a purchase price of $33.8 million.[11][12]

Bico Group acquired Scienion, a global precision dispensing company, in 2020 for $94.8 million, along with its subsidiary Cellenion.[13]

Bico Group transitioned to a bioconvergence company in 2020, expanding its focus from bioprinting to broader life sciences technology and industrial solutions.[2] The company develops and markets products that enable researchers to culture cells in 3D, perform high-throughput drug screening, and print human tissues and organs for use in medical, pharmaceutical and cosmetic applications.

In May 2021, Bico Group acquired German 3D microfabrication company Nanoscribe for $70.6 million as well as the US-based contract research company Visikol for $7.5 million.[14]

In December 2021, Bico Group acquired the San Diego life-science automaton company Biosero for $165 million.[15][16]

In August 2023, co-founder Erik Gatenholm stepped down from his position as CEO. [17]

Products

The bio-ink produced by the company contains cellulose and alginate, locally sourced from trees in Sweden and seaweed from the Norwegian Sea, respectively.[4] Cellink's bio-ink technology was developed at Chalmers University.[4]

References
  1. "Bico Group 2021 Annual Report" (PDF). Bico Group. pp. 5, 24, 71, 73. Retrieved 7 October 2022.
  2. "CELLINK : announces third year extension of collaboration with a global biopharmaceutical company for drug discovery". MarketScreener. January 28, 2021. Retrieved 4 Feb 2021.
  3. Heater, Brian (March 24, 2017). "Swedish scientists successfully implant 3D-print human cartilage cells in baby mice". TechCrunch. Retrieved 25 Jan 2020.
  4. Savage, Maddy (November 15, 2017). "The firm that can 3D print human body parts". BBC.
  5. Dormehl, Luke (April 20, 2018). "Inside Cellink, the Swedish company building 3D printers for living tissue". Digital Trends. Designtechnica. Retrieved 25 Jan 2020.
  6. "CELLINK to receive €2.5 million grant from EU for project "TumorPrint"". July 16, 2018. Retrieved 2020-11-18.
  7. "BRIEF-Cellink: Collaboration With Ctibiotech". Reuters. January 18, 2018.
  8. "A 3D Bioprinting Stock That's Not Organovo". Nanalyze. April 1, 2019.
  9. Beary, Brian (February 11, 2019). "ARAB HEALTH. CELLINK, A Market Leader in Bio-Ink Production". MedicalExpo e-magazine. Marseille, France. Retrieved 25 Jan 2020.
  10. Hanaphy, Paul (August 19, 2021). "CELLINK parent firm rebranded BICO, reports over 600% acquisition growth in H1 2021". 3D Printing Industry.
  11. Staff (August 5, 2019). "Cellink to Acquire Single-Cell Dispensing Firm Cytena for €30.3M". genomeweb. Crain Communications. Retrieved 25 Jan 2020.
  12. Listek, Vanesa (August 6, 2019). "CELLINK to acquire single-cell dispensing firm cytena for 30.3 million euros". 3DPrint.com. 3DR Holdings, LLC. Retrieved 25 Jan 2020.
  13. Anusci, Victor (August 22, 2020). "CELLINK to acquire precision dispensing company Scienion AG". 3D Printing Media Network. Retrieved 4 Feb 2021.
  14. "CELLINK Acquires Nanoscribe, Visikol". May 26, 2021. Retrieved May 30, 2021.
  15. "BICO has entered into an agreement to acquire Biosero, a leading software provider for automated workflows and laboratory connectivity". Retrieved 20 January 2022.
  16. "San Diego's Biosero acquired by Swedish life sciences tech firm for $165 million". San Diego Union Tribune. 17 December 2021. Retrieved 20 January 2022.
  17. https://bico.com/single-press-release/?id=a4840f28-1823-4bab-a42e-db813d67e11f
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