CELLINK completes the acquisition of Discover Echo

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As announced on June 26, 2021, CELLINK AB (publ) (“CELLINK”) entered into an agreement to acquire Discover Echo Inc. (“Discover Echo”), an innovative and revolutionary American company focusing on development, manufacturing, and sales of patented and unique hybrid microscopes that easily transform between Upright and Inverted configurations, merging the capabilities of multiple instruments into one. CELLINK has on this day completed the acquisition of all Discover Echo-shares.

The preliminary purchase price for all shares amounted to approximately USD 110 million, which is subject to adjustment for net cash/debt and deviation from normalized working capital according to the closing date balance sheet, and of which approximately USD 12.5 million was paid in 262,320 newly issued shares of series B in CELLINK at a price of SEK 406.5 per share (the “Consideration Shares”) and the reminder in cash. The price for the Consideration Shares has been determined by the volume weighted average price of CELLINK shares of series B on Nasdaq Stockholm three consecutive trading days ending on the trading day immediately preceding the closing date.

With this strategic acquisition of Discover Echo, we further strengthen our position within our Biosciences segment. With Discover Echo’s revolutionary microscopy technology and disruptive product line, we further complement our existing bioconvergence products and capture strong cross-selling synergies. We are combining our strong, purpose driven growth agenda with trailblazing technologies for the sake of improving health all around the world. CELLINK is today the leading company in the world providing the most complete bioconvergence offering. This acquisition further exemplifies our vision and mission to be the complete solutions provider for our customers in the field of tissue engineering, cell line development, multi-omics, and diagnostics”, says Erik Gatenholm, CEO, CELLINK.

For further information on the acquisition and about Discover Echo, please see the press release which was published on June 26, 2021.

For further information, please contact:

Erik Gatenholm, CEO       
Phone (Sweden): +46 73 267 00 00
Phone (US): +1 (650) 515 5566
Email: eg@cellink.com   
Gusten Danielsson, CFO                            
Phone (Sweden): +46 70 991 86 04     
Phone (US): +1 (857) 332 2138

Email: gd@cellink.com

The information was submitted for publication, through the agency of the contact persons set out above, on June 30, 2021 at 18:15 (CEST).

Founded in 2016, CELLINK is the leading bioconvergence company in the world that provides technologies, products and services to create, understand and master biology. With a focus on the application areas of bioprinting, multiomics, cell line development, and diagnostics, the company develops and markets innovative technologies that 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. CELLINK’s products are trusted by more than 2,000 laboratories, including ones at all the top 20 pharmaceutical companies, are being used in more than 65 countries, and have been cited in more than 1,700 publications. CELLINK is creating the future of medicine. CELLINK is listed on the Nasdaq the Stockholm under CLNK B. www.cellink.com