Sweden’s CELLINK buys Finnish automation startup Ginolis, paying 70 mln euros

Swedish biotech startup CELLINK AB said it has agreed to buy Oulu-based Ginolis Oy, a Finnish company focusing on diagnostics automation and advanced robotics solutions for medical and diagnostic industries, in a deal worth 70 million euros.

Many of the tools offered by Ginolis will ensure higher quality bioprinting experiments and results, faster throughput of printed tissues, and more reliable and reproducible data, it said.

“Ginolis’ advanced robotics and diagnostics automation for medical device and diagnostic industries can be fully integrated with CELLINK’s current offering and our present and future customers workflows and needs,” Erik Gatenholm, chief executive of the Swedish firm said in a statement.

“With this strategic acquisition of Ginolis, we are further realizing CELLINK’s bioconvergence vision and to create the future of medicine by taking one step closer to the patients and improving healthcare around the world,” Gatenholm said.

Ginolis is currently both manufacturing and also providing systems for manufacturing of Covid-19 tests in the United States and Europe.

In 2017 VersoVentures invested in Ginolis, becoming its largest shareholder at a time.

40% of the price will be paid in new shares of the Swedish firm and remaining in cash.

Photo by Alex Kubsch on Unsplash