Successful exit for High-Tech Gründerfonds (HTGF) – HTGF sells its Cytena shares to CELLINK in a trade sale
August 8, 2019
The shareholders of Cytena GmbH (“Cytena”) have agreed to sell all Cytena shares to CELLINK AB (“CELLINK”) for a purchase price of 30.25M euros (“acquisition”). Through CELLINK’s complimentary technology offering cytena sees great synergies that will support and accelerate future growth of Cytena. An extended product offering and a stronger global presence are just some of the benefits for our Cytena’s customers and partners.
Background and motivation for the acquisition
Through this strategic acquisition, CELLINK expands its technology portfolio, supporting further expansion into the pharmaceutical industry. CELLINK offers bioink, bioprinters, rapid dispensers and live cell imaging systems that enable creation and monitoring of human tissues and 3D cell culture models. Cytena’s single-cell dispensing platform enables pharmaceutical companies to develop antibodies and cell lines and offers a great complement to CELLINK’s 3D bioprinting technologies.
The companies’ synergies enable greater market opportunities for Cytena’s and CELLINK’s product portfolio and global sales forces. The products are well-suited to be sold together to Cytena’s and CELLINK’s existing customer base. Cytena will remain under current entity and management post-transaction.
“We are extremely looking forward to being part of the CELLINK family. In CELLINK we have found a great partner, which shares our vision for the company and will help us to further accelerate cytena’s growth. We see interesting synergies in marketing, sales and R&D between all four group member companies: cytena GmbH in Germany, cytena Bioprocess Solutions Co. Ltd. in Taiwan, CELLINK in Sweden and the US, as well as Dispendix GmbH in Germany. Our customers and partners will benefit from an extended product offering and a stronger global presence.”
Dr. Jonas Schoendube, CEO, Cytena.
“We are excited to welcome Cytena to the CELLINK family of life-science companies with this strategic acquisition. We are furthering CELLINK’s global commercial strategy by focusing on the pharmaceutical industry and providing the most innovative solutions to researchers around the world. With Cytena’s revolutionary technology platforms we will streamline workflows for our present and future customers, and enhance our presence in the pharmaceutical industry, a strategy that is well aligned with our vision. Together with Dispendix, we will be well- positioned to offer comprehensive solutions for both academic and pharmaceutical customers worldwide.”
Erik Gatenholm, CEO, CELLINK.
“We see this transaction as the result of the excellent work of cytena’s management in recent years. High-Tech Gründerfonds has accompanied the successful development from the beginning and we are looking forward to the next step for cytena. We wish the complete cytena and Cellink team a successful cooperation in the future.”
Dr. Lena Krzyzak, Senior Investment Manager, High-Tech Gründerfonds
Cytena is a life science company focusing on single cell technologies. Cytena was founded in 2014 from the Institute for Microsystems Technology (IMTEK) at the University of Freiburg, and primarily sells solutions for handling biological cells. The Cytena team has developed a patented single-cell printer™ technology, which enables users to isolate and dispense single cells in a documented, gentle and sterile process. The single-cell printers have been manufactured in Germany since 2015 and are marketed worldwide. In 2018, the x.sight™ series was added to the company’s product portfolio. Most of top ten pharmaceutical companies use Cytena’s single-cell printers to produce clonal cell lines for manufacturing biologicals, such as antibodies.
CELLINK is the leading 3D bioprinter provider and the first bioink company in the world. We focus on developing and commercializing bioprinting technologies to allow researchers to print human organs and tissues for pharmaceutical and cosmetic applications. Founded in 2016 and active in more than 50 countries, CELLINK is changing the future of medicine as we know it. Visit www.cellink.com to learn more. CELLINK is listed on Nasdaq First North under CLNK. Erik Penser Bank AB is the company’s certified adviser, available by phone at +46 846 383 00 and by email at firstname.lastname@example.org.
Arvid Wallgrens Backe 20
Erik Gatenholm, CEO
Phone: EU +46 73 267 00 00
US +1 (650) 515 5566
Gusten Danielsson, CFO
Phone: +46 70 991 86 04
US +1 (857) 332 2138
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 540 startups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry and life sciences.
To date, external investors have injected over EUR 2 billion into the HTGF portfolio via more than 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.