BICO acquired all the shares in San Diego-based Allegro 3D Inc. (“Allegro 3D”) for an up-front enterprise value of USD 6 million. Additionally, the shareholders can receive USD 5 million in an earnout payment contingent on Allegro 3D’s financial performance in the coming two years.
The entire purchase price will be paid in cash. Allegro 3D’s patented light-based printing technology will be commercialized by CELLINK and is a strong complement to the existing offering of application-tailored products, as the technology will allow customers ability to increase precision and scale their output of bio-fabricated constructs for regenerative medicine and drug discovery purposes.
“The acquisition of Allegro 3D is in-line with our M&A strategy of add-on acquisitions where Allegro 3D complements CELLINK’s product portfolio strongly and can quickly be integrated into the current product offering and commercialization infrastructure.” comments BICO Head of M&A Jacob Thordenberg
The addition of Allegro 3D’s bioprinting portfolio brings a large injection in opportunities to scale operations for bioprinting customers. Given the high throughput nature of the technique, customers will be able to increase their output of bio-fabricated constructs. The Allegro 3D portfolio enables high precision and high speed bioprinting that is tailored for multi-well printing, providing life science companies the features needed for developing tissue constructs for regenerative medicine and drug testing workflows.
The acquisition is in line with BICO’s commercial agenda to provide technologies and sustainable solutions that make on-demand tissue a reality, reducing the dependency on animal models. With Allegro 3D, BICO continues to add complementary bioprinting methods to the group. Adding to the CELLINK portfolio enables the company to strengthen its position as a prominent manufacturer of bioprinters. With a robust portfolio of extrusion, 2PP and DLP printers, Allegro 3D’s patented printing technology is a strong complement to CELLINK’s existing offer of application-tailored products.
The company will remain an independent entity but will be integrated into the commercial structure of global bioprinting leader, CELLINK, another company in the BICO bioprinting business area.