BICO Group explained

Bico Group
Type:Public
Founded: in Gothenburg, Sweden
Hq Location City:Gothenburg
Hq Location Country:Sweden
Area Served:Worldwide
Revenue: (2021)
Operating Income: (2021)
Net Income: (2021)
Assets: (2021)
Equity: (2021)
Num Employees:1,150+
Num Employees Year:2021
Footnotes:[1]

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 (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.

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.

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. 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.

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

As the company's technology makes it possible to print tissues such as skin, liver, cornea, and cartilage, its technology also allows printing fully functional cancer tumors which can be used to develop new cancer treatment.[6] [7] In 2018, Cellink received a $2.5 million grant from the EU to fund its TumorPrint project.[8]

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

In January 2018, Cellink announced a collaboration with Ctibiotech to boost 3D bioprinting technology for cancer research.[9]

The company's revenue totaled $4.88 million in 2018.[10] As of February 2019, its products are used by more than 600 labs in more than 50 countries.[11]

In August 2021, Cellink underwent a corporate transformation and changed name to BICO, while keeping the Cellink name for their bioprinting business.[12]

Bico Group acquired German biotechnology company Cytena in August 2019 for a purchase price of $33.8 million.[13] [14]

Bico Group acquired Scienion, a global precision dispensing company, in 2020 for $94.8 million, along with its subsidiary Cellenion.[15]

Bico Group transitioned to a bioconvergence company in 2020, expanding its focus from bioprinting to broader life sciences technology and industrial solutions. 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.[16]

In December 2021, Bico Group acquired the San Diego life-science automaton company Biosero for $165 million.[17] [18]

In August 2023, co-founder Erik Gatenholm stepped down from his position as CEO with Maria Forss appointed as the new CEO.[19]

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. Cellink's bio-ink technology was developed at Chalmers University.

Notes and References

  1. Web site: Bico Group 2021 Annual Report . Bico Group . 7 October 2022 . 5, 24, 71, 73.
  2. News: CELLINK : announces third year extension of collaboration with a global biopharmaceutical company for drug discovery. January 28, 2021. MarketScreener. 4 Feb 2021.
  3. News: Swedish scientists successfully implant 3D-print human cartilage cells in baby mice. Heater. Brian. March 24, 2017. TechCrunch. 25 Jan 2020.
  4. News: The firm that can 3D print human body parts. Savage. Maddy. November 15, 2017. BBC.
  5. Web site: Inside Cellink, the Swedish company building 3D printers for living tissue. Dormehl. Luke. April 20, 2018. Digital Trends. Designtechnica. 25 Jan 2020.
  6. Web site: Kaplan . Katie . 2019-05-30 . FAMU laboratory first in U.S. to print human cornea . 2023-12-13 . www.wctv.tv . en.
  7. Web site: January 28, 2020 . Japan BrandVoice: How Kyoto Is Rebuilding Itself As A Nanotech And Regenerative Medicine Powerhouse . 2023-12-13 . Forbes . en.
  8. Web site: CELLINK to receive €2.5 million grant from EU for project "TumorPrint" . July 16, 2018 . 2020-11-18.
  9. Web site: BRIEF-Cellink: Collaboration With Ctibiotech . January 18, 2018 . Reuters.
  10. Web site: A 3D Bioprinting Stock That's Not Organovo. Nanalyze. April 1, 2019.
  11. Web site: ARAB HEALTH. CELLINK, A Market Leader in Bio-Ink Production. Beary. Brian. February 11, 2019. MedicalExpo e-magazine. Marseille, France. 25 Jan 2020.
  12. Web site: CELLINK parent firm rebranded BICO, reports over 600% acquisition growth in H1 2021 . August 19, 2021 . 3D Printing Industry . Hanaphy . Paul.
  13. Web site: Cellink to Acquire Single-Cell Dispensing Firm Cytena for €30.3M. Staff. August 5, 2019. genomeweb. Crain Communications. registration. 25 Jan 2020.
  14. Web site: CELLINK to acquire single-cell dispensing firm cytena for 30.3 million euros. Listek. Vanesa. August 6, 2019. 3DPrint.com. 3DR Holdings, LLC. 25 Jan 2020.
  15. News: CELLINK to acquire precision dispensing company Scienion AG. Anusci. Victor. 3D Printing Media Network. August 22, 2020. 4 Feb 2021.
  16. News: CELLINK Acquires Nanoscribe, Visikol. May 26, 2021. May 30, 2021.
  17. Web site: BICO has entered into an agreement to acquire Biosero, a leading software provider for automated workflows and laboratory connectivity . 20 January 2022.
  18. Web site: San Diego's Biosero acquired by Swedish life sciences tech firm for $165 million . San Diego Union Tribune . 17 December 2021 . 20 January 2022.
  19. Web site: Single Press release .