BICO completes the acquisition of Biosero
As announced on December 16, 2021, BICO Group AB (publ) (“BICO”) entered into an agreement to acquire Biosero, Inc (“Biosero”), a leading software provider for automated workflows and laboratory connectivity. BICO has on this day completed the acquisition of all Biosero-shares.
The transaction was completed at an enterprise value of 169.7 MUSD. Of this amount, 104.7 MUSD was paid in cash, and 39.2 MUSD in newly issued shares of series B in BICO (1.2 million Consideration shares). Additionally, 25.8 MUSD will be paid through an earnout component in shares and cash, contingent on the company reaching certain earnout milestones over the coming three years.
“With Biosero we take a significant and strategized step in expanding our portfolio with combinatorial smart software systems to enable automated workflows. The Biosero software platform will serve as a glue to our impressive portfolio of hardware instruments and solutions, tying together the great hardware technologies we have acquired over the years. Through improved efficacy and efficiency this leads to better and faster decision making for our customers and contributes to solving the modern healthcare challenges we face” says Erik Gatenholm, CEO and co-founder of BICO.
For further information on the acquisition and about Biosero, please see the press release which was published on December 16, 2021.
For further information, please contact:
Gusten Danielsson, CFO
Phone (US): +1 (857) 332 2138
Phone (Sweden): +46 70 991 86 04
Email: gd@bico.com
Isabelle Ljunggren, Head of Communications
Phone (Sweden): +46 70 830 0890
Email: il@bico.com
This information was submitted for publication, through the agency of the contact persons set out above, on December 28, at 17:50 (CET).
About BICO
Founded in 2016, BICO (formerly CELLINK) is the leading bio convergence company in the world. By combining different technologies, such as robotics, artificial intelligence, computer science, and 3D bioprinting with biology, we enable our customers to improve people's health and lives for the better.
The company has a focus on developing technologies that will advance Health 4.0 Next Generation Core Industry Ecosystems that enable tissue engineering, diagnostics, multiomics, and cell line development. BICO’s technologies enable researchers in the life sciences to culture cells in 3D, perform high-throughput drug screening and print human tissues and organs for the medical, pharmaceutical, and cosmetic industries. We create the future of health.
The Group’s instruments in the field amounts to 25,000, including all the top 20 pharmaceutical companies, are being used in more than 65 countries, and have been cited in more than 9,500 publications. BICO is listed on Nasdaq Stockholm under BICO. www.bico.com