CELLINK to receive €2.5 million grant from EU for the development and commercializing project “TumorPrint “
The project aims to develop and commercialize a Specific Bioprinting platform including, Bioinks, software and hardware specialized for printing of human cancer tumors. The total project budget is €3.5 million, CELLINK will fund €1.0 million and the European Commission €2.5 million.
The project spans over 29 months and is coordinated and ran solely by CELLINK. The goal with the project is to offer a high throughput screening platform for pharmaceutical companies enabling them to study cell reaction within cancer tumors when exposed to different compounds. CELLINK has retrieved a LOI from a global pharmaceutical company whom will aid with the validation of the platform. If the project is successful it will generate income to CELLINK through sales of Bioinks, software and systems.
"We are incredibly grateful for EU funding that contributes to the continued development of new technologies in Europe and we look forward to create value for our current and future customers in the pharmaceutical industry, but most importantly, creating patient benefit worldwide." - Erik Gatenholm, CEO, CELLINK
For further information, please contact:
Erik Gatenholm, CEO Gusten Danielsson, CFO
Phone: +46 73 267 00 00 Phone: +46 70 991 86 04
This information is such information as CELLINK AB is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on July 16, 2018 at. 16:00 CET.
CELLINK has created one of the world's first universal Bioinks, today used by many of the world's most well-reputed research institutions. A Bioink can be mixed with living cells to print functional human tissues and if future research is successful, eventually, complete human organs in so-called 3D-Bioprinters. CELLINK's universal Bioink shows excellent results and can be used in both CELLINK's proprietary 3D Bioprinters and in 3D Bioprinters developed by other operators. CELLINK is listed at Nasdaq First North with the ticker CLNK. Erik Penser Bank AB, tel: +46 8 463 80 00, is the Company's Certified Adviser.