08-18-2021: CELLINK transformed into BICO
This move created the largest business group in the global bioprinting sector
On August 18, 2021, CELLINK Life Sciences restructured itself to better reflect the new opportunities within its business. The world-leading bioprinting group changed its name to BICO (BIo COnvergence) while retaining the CELLINK brand for its bioprinters.
BICO, a self-proclaimed leader in the life sciences space, aimed to focus on the intersection of biology and technology. The company was founded in 2016 as CELLINK, producing popular and relatively easy-to-use bioprinters. To some extent, it can be said that CELLINK did for bioprinting what MakerBot did for the 3D printing industry—popularizing the technology and making it more accessible and attractive.
Over time, the Swedish company built one of the world’s most expansive portfolios of life science products, spanning bioprinting, diagnostics, lab automation, and multi-omics, among other key verticals. The name and identity change became necessary as the original name—mainly associated with bioprinters—no longer fully reflected the scope of the business. The shift to BICO, which already had 11 subsidiaries at the time of transformation, allowed for better organization of the entire business.
In the five years since its inception, CELLINK/BICO experienced dynamic growth, including expansion to over 900 employees, as well as sales and distribution in more than 65 countries and over 2,000 laboratories. BICO aimed to develop in three segments: Bioprinting, Biosciences, and Bioautomation. CELLINK Bioprinting continued to thrive under the BICO umbrella.
Now, let's move from the sweet to the more bitter stories...
A year later, CELLINK/BICO co-founder Gusten Danielsson left his position as Chief Financial Officer (CFO) and gave a sharp interview in the Swedish media, stating that the company’s CEO, Erik Gatenholm, was "no longer the right leader for the company, even if he remains a controlling shareholder." In November 2023, Maria Forss became the new CEO, tasked with calming the internal situation within the company.
In March of this year, the remaining two co-founders—Erik Gatenholm and Hector Martinez—also left the company entirely (Gatenholm remained as an advisor and sits on the board of directors but will not seek re-election). This decision was prompted by emerging controversies surrounding the group... An external whistleblower investigation into BICO’s aggressive sales tactics between 2017 and 2021 brought to light some concerns, although no criminal activities were found.