Stories: CELLINK partnerships and acquisitions complement strong organic growth
The European Innovation Council pilot's funded bioprinting technology company CELLINK presented the results for the second quarter of fiscal year 2018/2019, showing continued growth profit. The company shows increased net sales, profit, acquisitions and new products on the way to fuel an active global community of users and resellers.
In the second quarter, net sales amounted to €2.3 million (SEK 23.8 million) and total revenue amounted to €3.2 million (SEK 32.9 Million), resulting in 173% net sales increase compared to the same period in the previous fiscal year. Of this, most is relative to organic growth (150%), while the rest comes from recent acquisitions.
According to the company’s management team, this improved performance is correlated with the growing sales team and its members’ ability to spend time with customers, products and application specialists.
Based in Gothenburg, Sweden, CELLINK is developing bioprinting technology with a focus on making it easy to use for non-experts. CELLINK designs and develops bioprinting technologies that enable researchers to 3D print organs and tissue for applications that span industries, from pharmaceutical to cosmetic. The patent-pending bioink is a biomaterial innovation that allows human cells to grow and thrive as they would in their natural environment. Researchers leverage CELLINK's technologies to print liver, cartilage, skin tissues and more.
“What Cellink does differently is making the technology easy to use and cost-effective,” commented Erik Gatenholm, the company’s CEO. “We have children as young as seven years old who have successfully used our technology.”
CELLINK began only a couple of years ago by offering a few printer systems and bioinks. Now the company’s offer includes technology platforms enabling real-time microscopy monitoring of human cells, preparation for the bioprinting process, improved bioprinting and cell-dispensing platforms, and assay methods to validate printed tissues. The company is now present in over 50 countries and more than 600 laboratories.
Founded in 2016, Cellink went straight to an IPO on Nasdaq First North that year, raising €360,000 (SEK 3.7M). In 2018 the company received a Phase 2 grant from the EIC pilot SME Instrument of 2.450.327 €.
View CELLINK's information on the EIC SME Instrument data hub.