BICO Group
{{Short description|Biotech company in Gothenburg, Sweden}}
{{Infobox company
| name = Bico Group
| logo = Bico Logo Horizontal.png
| type = Public
| traded_as = {{unbulleted list|
|{{OMX|SSE128490|BICO}}
}}
| industry = {{unbulleted list|
}}
| founded = {{Start date and age|2016|01|27}} in Gothenburg, Sweden
| founders = {{unbulleted list|
|Héctor Martínez
|Gusten Danielsson
}}
| hq_location_city = Gothenburg
| hq_location_country = Sweden
| area_served = Worldwide
| key_people = {{unbulleted list
|Maria Forss (chief executive)
|Ali Khademhosseini (advisor)
|Mina Bissell (advisor)
|Carl Bennet (advisor)
}}
| owners = {{unbulleted list
|Erik Gatenholm (15%)
|Héctor Martínez (10%)
}}
| products =
| revenue = {{increase}} {{SEK|1.26 billion|link=yes}} (2021)
| operating_income = {{decrease}} {{SEK|−237 million}} (2021)
| net_income = {{decrease}} {{SEK|−229 million}} (2021)
| assets = {{increase}} {{SEK|9.75 billion}} (2021)
| equity = {{increase}} {{SEK|6.77 billion}} (2021)
| num_employees = 1,150+
| num_employees_year = 2021
| website = {{URL|bico.com}}
}}
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.{{cite news|url=https://www.marketscreener.com/quote/stock/CELLINK-AB-PUBL-61747234/news/CELLINK-announces-third-year-extension-of-collaboration-with-a-global-biopharmaceutical-company-fo-32294874/|title=CELLINK : announces third year extension of collaboration with a global biopharmaceutical company for drug discovery|date=January 28, 2021|work=MarketScreener|access-date=4 Feb 2021}}
Bico Group (then Cellink) began by producing bio-inks and bioprinters for culturing different cell types to enable applications like patient-derived implants.{{cite news|url=https://techcrunch.com/2017/03/24/3d-printed-cells/|title=Swedish scientists successfully implant 3D-print human cartilage cells in baby mice|author=Heater|first=Brian|date=March 24, 2017|work=TechCrunch|access-date=25 Jan 2020}} 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.{{Cite news|url=https://www.bbc.com/news/business-41859942|title=The firm that can 3D print human body parts|last=Savage|first=Maddy|date=November 15, 2017|work=BBC}}{{cite web|url=https://www.digitaltrends.com/cool-tech/inside-cellink-hq/|title=Inside Cellink, the Swedish company building 3D printers for living tissue|last=Dormehl|first=Luke|date=April 20, 2018|website=Digital Trends|publisher=Designtechnica|access-date=25 Jan 2020}} 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.{{Cite web |last=Kaplan |first=Katie |date=2019-05-30 |title=FAMU laboratory first in U.S. to print human cornea |url=https://www.wctv.tv/content/news/FAMU-laboratory-the-first-to-print-human-cornea-510627111.html |access-date=2023-12-13 |website=www.wctv.tv |language=en}}{{Cite web |date=January 28, 2020 |title=Japan BrandVoice: How Kyoto Is Rebuilding Itself As A Nanotech And Regenerative Medicine Powerhouse |url=https://www.forbes.com/sites/japan/2020/01/09/how-kyoto-is-rebuilding-itself-as-a-nanotech-and-regenerative-medicine-powerhouse/ |access-date=2023-12-13 |website=Forbes |language=en}} In 2018, Cellink received a $2.5 million grant from the EU to fund its TumorPrint project.{{cite web |url=https://www.3dprintingmedia.network/cellink-receive-e2-5-million-grant-eu-project-tumorprint/ |title=CELLINK to receive €2.5 million grant from EU for project "TumorPrint" |date=July 16, 2018 |access-date=2020-11-18}}
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.{{cite web |url=https://www.reuters.com/article/instant-article/idINASM000HSQ |title=BRIEF-Cellink: Collaboration With Ctibiotech |date=January 18, 2018 |website=Reuters}}
The company's revenue totaled $4.88 million in 2018.{{cite web|url=https://www.nanalyze.com/2019/04/3d-bioprinting-stock/|title=A 3D Bioprinting Stock That's Not Organovo|publisher=Nanalyze|date=April 1, 2019}} As of February 2019, its products are used by more than 600 labs in more than 50 countries.{{cite web|url=http://emag.medicalexpo.com/cellink-is-creating-ripples-in-growing-bioprinting-sector/|title=ARAB HEALTH. CELLINK, A Market Leader in Bio-Ink Production|last=Beary|first=Brian|date=February 11, 2019|website=MedicalExpo e-magazine|location=Marseille, France|access-date=25 Jan 2020}}
In August 2021, Cellink underwent a corporate transformation and changed name to BICO, while keeping the Cellink name for their bioprinting business.{{cite web |url=https://3dprintingindustry.com/news/cellink-parent-firm-rebranded-bico-reports-over-600-acquisition-led-growth-in-h1-2021-194740/ |title=CELLINK parent firm rebranded BICO, reports over 600% acquisition growth in H1 2021 |date=August 19, 2021 |website=3D Printing Industry |last=Hanaphy |first=Paul}}
Bico Group acquired German biotechnology company Cytena in August 2019 for a purchase price of $33.8 million.{{cite web|url=https://www.genomeweb.com/business-news/cellink-acquire-single-cell-dispensing-firm-cytena-303m|title=Cellink to Acquire Single-Cell Dispensing Firm Cytena for €30.3M|last=Staff|date=August 5, 2019|website=genomeweb|publisher=Crain Communications|url-access=registration|access-date=25 Jan 2020}}{{cite web|url=https://3dprint.com/251003/cellink-to-acquire-german-startup-cytena-for-30-million-euros/|title=CELLINK to acquire single-cell dispensing firm cytena for 30.3 million euros|last=Listek|first=Vanesa|date=August 6, 2019|website=3DPrint.com|publisher=3DR Holdings, LLC|access-date=25 Jan 2020}}
Bico Group acquired Scienion, a global precision dispensing company, in 2020 for $94.8 million, along with its subsidiary Cellenion.{{cite news|url=https://www.3dprintingmedia.network/cellink-to-acquire-precision-dispensing-company-scienion-ag/|title=CELLINK to acquire precision dispensing company Scienion AG|last=Anusci|first=Victor|website=3D Printing Media Network|date=August 22, 2020|access-date=4 Feb 2021}}
Bico Group transitioned to a bioconvergence company in 2020, expanding its focus from bioprinting to broader life sciences technology and industrial solutions.{{buzzword inline|date=July 2023}} 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.{{cite news|url=https://www.photonics.com/Articles/CELLINK_Acquires_Nanoscribe_Visikol/a67012|title=CELLINK Acquires Nanoscribe, Visikol|date=May 26, 2021|access-date=May 30, 2021}}
In December 2021, Bico Group acquired the San Diego life-science automaton company Biosero for $165 million.{{cite web |title=BICO has entered into an agreement to acquire Biosero, a leading software provider for automated workflows and laboratory connectivity |url=https://bico.com/investors/single-press-release/?r=327D33A1163A4564&t=bico-has-entered-into-an-agreement-to-acquire-biosero-a-leading-software-provider-for-automated-workflows-and-laboratory-connectivity |access-date=20 January 2022}}{{cite web |title=San Diego's Biosero acquired by Swedish life sciences tech firm for $165 million |url=https://www.sandiegouniontribune.com/business/story/2021-12-16/sd-fi-biosero-bicogroup |work=San Diego Union Tribune |date=17 December 2021 |access-date=20 January 2022}}
In August 2023, co-founder Erik Gatenholm stepped down from his position as CEO with Maria Forss appointed as the new CEO.{{cite web | url=https://bico.com/single-press-release/?id=a4840f28-1823-4bab-a42e-db813d67e11f | title=Single Press release }}
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.
References
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Category:Companies based in Massachusetts
Category:Computer companies established in 2016
Category:Manufacturing companies of the United States
Category:2016 establishments in Massachusetts
Category:American companies established in 2016
Category:Swedish companies established in 2016