Cellectis buys Cellartis
Paris – For €16.4m in cash and roughly €12m in shares, French genome engineering specialist Cellectis has taken over Swedish Cellartis. Cellartis is the European leader in stem cell-derived cardiomyocytes and hepatocytes. With 62 employees, it earned €3.8m in 2010." The acquisition of Cellartis will enable Cellectis to gain a leadership position in the very promising field of stem cells", said Thomas Devedjian, Director and Member of the Executive Committee of the FSI. The FSI or Strategic Investment Fund, is a strategic investment tool of the French State. Together with private investor Pierre Bastid, the FSI will cough up €50m to finance the move. Cellectis wants to become the world leader in stem cell-derived in vitro R&D tools and related technologies. Cellartics value for Celelctis is based on two main pillars. The Swedes own the largest stem cell bank in the world (30 proprietary lines) and in 10 years have built a considerable expertise and two certified production sites in Sweden and Scotland. The second pillar is the research collaborations with partners like Novo Nordisk and the French Blood Agency.