Volumetric Biotechnologies

Volumetric Biotechnologies is a biotechnology company working in the field of 3D printing.

History

2021: 3D Systems bought Volumetric Biotechnologies for $400 million

At the end of October 2021, 3D Systems announced the purchase of Volumetric Biotechnologies at a price of almost $400 million. Through this acquisition, 3D Systems plans to establish a research center in Houston. The deal is expected to close in the fourth quarter of 2021.

Dr. Miller and his team of bioengineers from Volumetric Biotechnologies and scientists have made progress toward biofabrication, focusing mainly on the human liver and the basic technologies needed to create these very complex biological structures. Functional human organs, one of the most complex structures in the world, and to reproduce them, will require both extremely advanced high-resolution capabilities and the ability to print volumetric, that is, from all sides at once, and not layer by layer, like most 3D printing technologies on October 28, 2021. These two areas are targeted by Volumetric Biotechnologies using the Tessel system registered with USPTO.

3D Systems acquired Volumetric Biotechnologies for $400 million

Dr. Miller, who will be appointed Chief Scientist in Regenerative Medicine at 3D Systems, will complement the rapidly evolving efforts of the 3D Systems and United Therapeutics group focused on the production of human lungs and expand those efforts to include other human organs and other applications in the human body. The merger of both groups with complementary skills is expected to speed up the main mission - creating an unlimited supply of vital organs for millions of people around the world in need of transplants

Joining Dr. Jordan Miller and his exceptional team of researchers to our existing lineup, led by our Chief Technical Officer for Regenerative Medicine, Chuck Hull, will significantly expand our capabilities and potential to develop bioprinting human organs, said 3D Systems President and Chief Executive Officer Dr. Jeffrey Graves.

The transaction is structured as a payment of $45 million, with additional opportunities of up to $355 million associated with achieving significant steps in demonstrating human use until 2024. All these payments consist, approximately 50% by 50% of the funds and shares. If all stages are achieved, the total purchase price will be $400 million.

The pioneering efforts of Dr. Miller and Grigorian in biotechnology at Volumetric are often mentioned in scientific journals and were featured on the cover of Science in May 2019, as well as covered in Forbes, Scientific American and Fortune journals.^[1]

Notes