Foley & Lardner LLP served as legal advisor to Boston-based bio convergence company BICO Group AB (“BICO”), in its acquisition of Biosero, Inc. (“Biosero”), a San Diego-based software provider for automated workflows and laboratory connectivity, for $165 million.
The acquisition marks a significant and strategized step in expanding BICO’s portfolio with combinatorial smart software systems to enable automated workflows across key application areas: tissue engineering, cell line development, multiomics, and diagnostics. The addition of Biosero’s software capabilities brings immediate synergies and will allow BICO to offer its customers fully automated and connected workflow solutions using the combination of technologies and products from current portfolio companies together with Biosero’s software solutions. BICO will also invest $20 million over three years to accelerate its commercial agenda to expand to new geographical markets and fully monetize its current pipeline of orders.
Founded in 2016, BICO combines different technologies such as robotics, artificial intelligence, computer science, and 3D bioprinting with biology to enable researchers and clinicians to improve people’s health and lives for the better. Biosero is the fourteenth company in BICO’s growing stable of businesses comprising bioprinting, biosciences, and bioautomation companies.
The core Foley deal team was led by Partner Gabor Garai and included Senior Counsel Christopher Bourne and Associates Megan Fouse and Graham MacEwan. They were assisted by Partners Andy Rawlins, Kristel Schorr, Casey Knapp, Gary Rovner, Joe Rupkey, Benjamin Dryden, John Palmer, Jamshed Patel, Ethan Lenz, and John Litchfield; Special Counsel Arthur Phillips; Of Counsels Mark Neuberger, Sophie Lignier, and Joshua Agen; and Associates Saige Gallop, Nick Johnson, Jordan Bergmann, Richard Flannery, and Kelsey O’Gorman.
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