BICO Group
| Company type | Public |
|---|---|
| Industry | Bioconvergence, Biotechnology |
| Founded | 2016 |
| Founder | Erik Gatenholm, Héctor Martinez, Gusten Danielsson |
| Headquarters | Stockholm , Sweden |
Key people | Maria Forss (CEO), Erik Gatenholm (former CEO) |
| Products | Bio-inks, Bioprinters, Life science tools, Bioconvergence technologies |
| Website | bico |
Bico Group (previously known as Cellink) is a Swedish firm operating within the bioconvergence sector, focusing on innovative technologies and services that propel advancements in biological research, particularly in life science tools and bioprinting.
Originally, Bico Group concentrated on producing bio-ink formulations and bioprinters designed to culture a range of cell types, facilitating applications such as patient-specific implants. It was a pioneer in commercially offering standardized bio-ink products through online platforms.
The company collaborates with prominent entities like AstraZeneca, MedImmune, MIT, and Takara Bio. Its bioprinting equipment is utilized by research institutions and corporations including Harvard University, Merck, Novartis, the U.S. Army, Toyota, and Johnson & Johnson.
Establishment
Founded in 2016 under the name Cellink by Erik Gatenholm (CEO), Héctor Martinez (CTO), and Gusten Danielsson (CFO), the company introduced the world’s first bio-ink compatible across multiple platforms. This innovation simplified bioprinting processes for academic researchers and pharmaceutical developers who had previously relied on creating their own biomaterials. The initial bioprinter was launched in 2015, followed by ongoing development of specialized bio-inks tailored for various uses.
Within ten months of its inception, Cellink went public on Nasdaq First North, with its initial public offering oversubscribed by 1070 percent.
Cellink’s technology enabled the fabrication of tissues such as skin, liver, cornea, and cartilage, along with fully functional cancerous tumors that have contributed to progress in oncology treatments.
In 2017, Cellink established its U.S. base in Boston. Early in 2018, it formed a partnership with Ctibiotech aimed at advancing 3D bioprinting techniques for cancer studies and secured €2.5 million from the European Union to support its TumorPrint initiative.
By 2018, the company reported revenues of $4.88 million. By early 2019, its products were employed by over 600 laboratories spanning more than 50 countries.
Expansion from 2021 Onwards
In August 2021, the company rebranded as BICO while preserving the Cellink brand name for its bioprinting segment.
BICO pursued growth through acquisitions, including the purchase of German biotech firm Cytena in 2019 for $33.8 million and precision dispensing specialist Scienion along with its subsidiary Cellenion in 2020 for $94.8 million.
Transitioning beyond its original bioprinting focus in 2020, BICO evolved into a bioconvergence enterprise encompassing life sciences technologies and industrial solutions. Its portfolio now supports applications such as 3D cell culture, high-throughput drug discovery screening, and printing human tissues for medical, pharmaceutical, and cosmetic industries.
In 2021, BICO further expanded by acquiring German microfabrication leader Nanoscribe for $70.6 million and U.S.-based contract research organization Visikol for $7.5 million. Later that year, it added San Diego’s life-science automation company Biosero to its holdings with a $165 million acquisition.
In August 2023, co-founder Erik Gatenholm stepped down from his role as CEO and was succeeded by Maria Forss.
Products
The bio-ink produced by the company incorporates alginate and cellulose, derived respectively from seaweed in the Norwegian Sea and trees native to Sweden. This innovative bio-ink formulation originated from research conducted at Chalmers University.