Advanced Biomatrix

Advanced BioMatrix, a San Diego-based biotechnology company, develops advanced biomaterials and reagents for 3D cell culture applications, including cell cultivation, cell assays, bioprinting, and cell proliferation. The company's products have been utilized in groundbreaking research for drug development and 3D bioprinted tissue models, with over 5,000 citations in scientific publications as of September 2021. Advanced BioMatrix's offerings include hydrogels that mimic the extracellular matrix, facilitating cellular attachment, survival, and compatibility with various tissue types.

In September 2021, Advanced BioMatrix was acquired by BICO Group AB, a Swedish bioconvergence company focused on enhancing biology research, for approximately USD 15 million. Following the acquisition, Advanced BioMatrix became a subsidiary of CELLINK Bioprinting, operating under the BICO Group. The company generated approximately USD 3 million in revenue with an adjusted EBITDA margin of around 50% in its latest fiscal year prior to the acquisition.

Key customers and partnerships

Advanced BioMatrix has established collaborations with research institutes, pharmaceutical companies, and life science organizations worldwide. In June 2022, the company expanded its existing partnership with Lineage Cell Therapeutics for Lineage's HyStem cell/drug delivery technology, broadening its focus on manufacturing and supplying research-grade HyStem to the research community and developing clinical/commercial-grade material for Lineage's customers.

In August 2023, Advanced BioMatrix signed a distribution agreement with InSphero AG, a pioneer in 3D cell culture and organ-on-chip technology, to make InSphero's patented Akura Plate Technology available to researchers in the US market. This collaboration aims to expand the application range for scientists and drug developers by combining Advanced BioMatrix's biomaterials with InSphero's Akura Plates for scaffold-based organoid and spheroid cultures.