The acquisition of the biofabrication start-up company is expected to lead to the development of a new 20,000ft² facility within Houston’s East End Maker Hub, which is presently completing its first phase buildout
3D Systems has agreed to acquire biofabrication start-up company Volumetric. (Credit: PublicDomainPictures from Pixabay)
3D Systems has agreed to acquire US-based biofabrication start-up company Volumetric in a deal valued at around $400m.
The deal includes a $45m closing payment, as well as up to $355m additional milestone earnouts based on the achievement of significant steps in the demonstration of human applications.
Established in 2018, Volumetric is a Houston-based biofabrication company that is engaged in developing biomaterials and advanced 3D bioprinting technologies.
The company’s engineers team has developed a vertically integrated platform of bioprinting solutions for organ-scale diseases -whole replacement organs.
The Volumetric team consists of bioengineers led by Dr. Miller along with co-founder and COO Dr Bagrat Grigoryan.
Volumetric co-founder and president Dr Jordan Miller said: “We are so excited to join 3D Systems and its joint development program with United Therapeutics Corporation, working together to deliver on the promise of regenerative medicine.
“We will build out our R&D pipeline right here in Houston, next to the dozens of other innovative life sciences companies we have been working with, and alongside, for the past three years.”
The merger will allow to create a new 20,000ft² facility within Houston’s East End Maker Hub, which is presently completing its first phase buildout.
According to the company, the Houston effort builds on an existing partnership between 3D Systems and United Therapeutic for the feasibility and commercialisation of bioprinted human organs.
Rice University bioengineering associate professor Miller will act as chief scientist for regenerative medicine and will oversee the biofabrication effort in Houston for 3D Systems.
In a statement, Miller said: “Just as a vibrant city needs roads, a vital organ needs vasculature. Our work to date at Volumetric has focused on 3D bioprinting the intricate blood vessel architecture that is crucial for the function of these organs.”