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3D Systems Announces Acquisition of Volumetric Biotechnologies October 27 , 2021 • Brings exceptional tissue engineering and biological expertise to expand scope of human organ bioprinting efforts at 3D Systems • Accelerates the development and commercialization of vascularized human tissues and bioprinted constructs for non- organ applications within the body • Creates clear technological leadership in the rapidly emerging bioprinting field for laboratory applications including drug discovery • Companies to host a conference call and webcast tomorrow , October 28 , 2021 , at 10:00 a.m. Eastern Time ROCK HILL , S.C. , Oct. 27 , 2021 ( GLOBE NEWSWIRE ) -- ( NYSE : DDD ) is pleased to announce the acquisition of Volumetric Biotechnologies , a Houston - based biotech company co - founded by Drs . Jordan Miller and Bagrat Grigoryan . Volumetric's mission has from the outset been to develop the ability to manufacture human organs using bioprinting methods . Dr. Miller and his team of bioengineers and scientists have made tremendous progress in these efforts , focusing primarily on the human liver and the underlying technologies required to create these highly complex biological structures . With this acquisition , 3D Systems plans to establish a world - class research capability in Houston , Texas , a region committed to leadership in technologies related to life sciences . Commenting on the acquisition , Dr. Jeffrey Graves , president and chief executive officer of 3D Systems stated , " The addition of Dr. Miller and his exceptional team of researchers to our existing Team , led by our Chief Technology Officer for Regenerative Medicine , Chuck Hull , will dramatically expand our capabilities and capacity for the development of bioprinted human organs . Dr. Miller , who will be appointed Chief Scientist for Regenerative Medicine at 3D Systems , will supplement the rapidly advancing efforts of the 3D Systems and United Therapeutics Team focused on the manufacture of human lungs , and expand these efforts to include additional human organs and other applications within the human body . Merging our groups , with their highly complementary skill sets , is expected to accelerate attainment of our primary mission , which is to create an unlimited supply of life - saving organs for the millions of people in need of a transplant around the world . " Chuck Hull added , " The experience and passion of the Volumetric team match perfectly with 3D Systems ' regenerative medicine vision . " The transaction is structured as a $ 45 million closing payment , with up to $ 355 million additional opportunity linked to the attainment of significant steps in the demonstration of human applications over the next several years . These payments are all comprised of approximately half cash and half stock . If all milestones are accomplished , the total purchase price for the acquisition is $ 400 million . The transaction is expected to close in the fourth quarter . In commenting on the merger with 3D Systems , Dr. Miller stated , " It has always been my dream to develop the capability to manufacture fully biocompatible human organs to save the lives of millions of people in need around the world . Our work on a vertically integrated platform for the 3D printing of organ scaffolds followed by cellularization to create fully compatible human organs , dovetails perfectly with the work being done by 3D Systems and United Therapeutics . Working together , we expect to accelerate these efforts , expanding them beyond lungs to other human organs . In addition , these capabilities are expected to enable numerous additional applications for printing vascularized human tissue to address needs created by trauma or disease . I am honored to work with Chuck Hull and his team and look forward to an exciting future together . " The ground - breaking efforts of Drs . Miller and Grigoryan at Volumetric have been cited frequently in scientific journals and were featured on the cover of Science magazine in May of 2019 , and further reported on in Forbes , Scientific American , and Fortune magazines .