The merger will establish a new 20,000 sq. ft. facility within Houston’s East End Maker Hub
In a $45 million deal (€38 millions), Volumetric has signed an agreement to be acquired by AM company 3D Systems. The deal is structured with up to $355 million additional opportunity, linked to a series of milestone earnouts upon the attainment of significant steps in the demonstration of human applications.
Although its name might make you think of volumetric 3D printing, Volumetric is a biofabrication start-up company developing biomaterials and advanced 3D bioprinting technologies.
3D Systems and Volumetric share the same vision; the one that consists in “working for a world where people won’t have to die so that others can live.”
The Volumetric team is comprised of bioengineers led by Dr. Miller together with Co-Founder and COO Bagrat Grigoryan, PhD. The group has been quietly developing a vertically integrated platform of bioprinting solutions targeted at a new class of therapies for organ-scale diseases — whole replacement organs. Miller, currently an Associate Professor of Bioengineering at Rice University, will lead the biofabrication effort in Houston for 3D Systems as Chief Scientist for Regenerative Medicine.
“The vital organs inside of the human body are the most complicated structures in the known universe,” says Jordan Miller, PhD, Co-Founder and President of Volumetric.. “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.”
“Manufacturing human organs represents a transformative opportunity to reduce serious organ disease states worldwide,” said Dr. Grigoryan, who will join 3D Systems as a Vice President of Regenerative Medicine. “Broadening our team’s ability to deliver on the promise of organ therapy is a win for patients and medical care around the world, as well as Volumetric shareholders who believed in our promise from early phase development.”
The merger will establish a new 20,000 sq. ft. facility within Houston’s East End Maker Hub, currently completing its first phase buildout. The Houston effort builds on an existing and accelerating partnership between 3D Systems and United Therapeutics to establish the feasibility and commercialization of bioprinted human organs.
The company joins a portfolio of companies that already include Oqton, Additive Works and bioprinting company Allevi – all of them have been acquired in the course of this year.
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