BICO, a Leading expert in bio convergence, has announced that it has acquired all leading shares in Advanced BioMatrix Corp. (Advanced BioMatrix), the world leader in type I collagen for 2D and 3D applications.
Research institutes, pharmaceutical corporations, and biotech companies purchase Advanced BioMatrix’s collagen bio-inks, high purity extracellular matrix proteins, chemically modified proteins, and polysaccharides, along with additional reagents and assays. The company’s unique strength is its ability to produce high-quality reagents and collagen inks for 3D bioprinting.
A total of roughly USD 15 million has been paid for all outstanding shares of Advanced BioMatrix by BICO on a cash and debt-free basis, assuming that the working capital at the time of closing corresponds to the normalized working capital. Over three years, the sellers may also collect up to USD 3 million in additional earnings.
Located in San Diego, California, Advanced BioMatrix was created in 2008. Combining the innovative offerings of BICO Group and Advanced BioMatrix provides a market-leading product portfolio in bio-inks and reagents for bioprinting and bioimaging.
A robust BICO business model is further demonstrated by the fact that the two companies may work together to develop fresh application offerings to fulfill future client requests. As well as a wide range of 3D applications, Advanced BioMatrix has a long history of invention and an ambitious R&D program.
Many top pharmaceutical companies and research organizations are Advanced BioMatrix’s international clients. A few examples of how the company’s products are used include enhanced medication research and 3D bioprinted tissue models. A corporation, like BICO, places a great emphasis on intellectual property (IP).
The trend of surgical robots has been increasing in the healthcare system. VR Enabled Surgical Robots designed by CEO Adam Sachs and co-founders Sammy Khalifa, and Dr. Barry Greene can perform complex surgeries with minimal incision. Also, Integrity Implants Has merged with Fusion Robotics to create Accelus Robots for spine surgery.
As a subsidiary of CELLINK Bioprinting, Advanced BioMatrix will continue to operate under its current legal entity and management as part of the Bioprinting business area. Financial reporting for Advanced BioMatrix will start in August 2021. With an adjusted EBITDA margin of over 50%, Advanced BioMatrix’s current fiscal year brought in about USD 3 million in revenue.
BICO is a leading expert in Bioconvergence. It has its headquarters in Boston. It is trusted by over 200 laboratories which include top pharmaceutical companies.
Advanced Biomatrix aims to transform science into an innovative way of discovery. It has its headquarters in Carlsbad, United States.