MatTek Corporation has entered into an agreement to be acquired by CELLINK, a world-leading bioconvergence company
Ashland, MA – MatTek Corporation, a Boston-area life sciences company specializing in lab-engineered human tissue production, announced today that it has agreed to be acquired by CELLINK, a leader in bioprinting, multiomics, cell line development and diagnostics.
For nearly 30 years, MatTek has been a global leader in the production of lab-grown human tissue models used for testing pharmaceuticals, cosmetic and personal care products as more physiologically relevant alternatives to animal testing. With the largest portfolio of proprietary 3D human-derived tissue and disease models in the world, MatTek’s tissues are used in product development and regulatory testing across North America, Europe, and Asia.
“Since 1985 we have led innovation in advanced in vitro science and 3D cell and tissue culture. The time has come for the next step in our journey where we will have the opportunity to become a member of an innovative bioconvergence powerhouse where our expertise can flourish. We will be able to reach out to a wider community and continue our mission to put an end to animal testing by providing alternative test models.” Alex Armento President and CEO, MatTek.
“With this strategic acquisition of MatTek, we further realize CELLINK’s and the founders’ vision to reduce, and in some cases eliminate, animal testing by providing alternative test models. It is truly a great day for all of us at CELLINK, given that this was one of the main reasons why we founded the company five years ago. We are combining our strong purpose driven agenda with trailblazing technology and by doing so we are converging solutions which can change many people’s lives, for the better, and create the future of medicine. By combining CELLINK and MatTek’s revolutionary technologies, we can offer market-leading in-vitro methods and finally replace controversial animal tests that are limited by their physiological relevance to predict human results. We see several strong synergies in combining CELLINK’s cutting-edge, bioprinting technology and modular large-scale industrial robotic flows with MatTek’s 3D reconstructed, human-derived tissue models creating a world-leading tissue model offering, which are based on decades of research, creating the largest proprietary library of 3D human tissue and disease models in the world.” Erik Gatenholm, CEO, CELLINK.
The Acquisition is expected to be completed in March 2021, provided that all conditions for completion are met. MatTek will remain under current entity and management post-transaction.
About MatTek Corporation MatTek was founded in 1985 and began producing human tissue models as reliable replacements for animal testing. MatTek’s skin, ocular, oral, respiratory, and intestinal tissue models are used to assess safety and efficacy throughout the pharmaceutical, cosmetics, personal care, and household product industries. These advanced tissue models empower companies to achieve their goals of non-animal testing while lowering testing costs and providing human-relevant results. The company has expanded its offerings to include cultureware, primary human cells and media, 3Diy kits, and testing services in support of its mission to advance innovative in vitro science through the production of synergistic life science products and services. www.mattek.com
About CELLINK Founded in 2016, CELLINK is the leading bioconvergence company in world that provides technologies, products and services to create, understand and master biology. With a focus on the application areas of bioprinting, multiomics, cell line development, and diagnostics, the company develops and markets innovative technologies that enable researchers in the life sciences to culture cells in 3D, perform high-throughput drug screening and print human tissues and organs for the medical, pharmaceutical and cosmetic industries. CELLINK’s products are trusted by more than 1,800 laboratories, including ones at all the top 20 pharmaceutical companies, are being used in more than 65 countries, and have been cited in more than 1,600 publications. CELLINK is creating the future of medicine. CELLINK is listed on the Nasdaq the Stockholm under CLNK B. www.cellink.com
Advisors Fairmount Partners, a healthcare focused investment bank, served as financial advisor to MatTek.