Olink Acquisition, Valuation, Funding & Investors

Olink was acquired by Thermo Fisher Scientific for $3.3B in October 2023, a 19.9x multiple on $166M of revenue.

See full Olink profile

Olink acquisition price

$3.3B

Acquired by Thermo Fisher Scientific · Oct 2023

Olink revenue at acquisition

$166M

Last twelve months · Oct 2023

Olink revenue multiple at acquisition

19.9x

EV/Revenue · Oct 2023

Cumulative funding Olink raised

$117M

across 1 funding round

Olink Overview

About Olink

Olink Holding AB is a Stockholm-headquartered proteomics company accelerating biomarker discovery across diseases like oncology and cardiology. Its platform, deployed in over 100 biopharma firms and academic labs, enables high-throughput protein analysis via proximity extension assay technology. Olink's products include Explore and Target 96 panels measuring thousands of proteins from small samples. Listed on Nasdaq Stockholm since 2020, it supports precision medicine research globally.


Founded

2004

HQ

SwedenUppsala

Website

olink.com

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$166M (Oct 2023)

Valuation

$3.3B (acquired Oct 2023)

Olink Acquisition

Olink was acquired by Thermo Fisher Scientific for $3.3B on 17 October 2023.

The acquisition price implies a 19.9x revenue multiple on $166M of revenue.

Before the acquisition Olink had raised $117M across 1 funding round.

Olink acquisition details
AcquirerDateTypePriceEV/Revenue
17 Oct 2023Strategic M&A$3.3B19.9x

Olink Funding History

Olink has raised a total of $117M across 1 funding round.

Olink funding rounds

Olink funding rounds
DateStageRaisedDeal Summary
Jan 2023Undisclosed stage$117MOlink Holding AB is a Swedish biotech company founded in 2004 based on Uppsala University research into protein analysis, providing a proteomics platform of products and services used by biopharmaceutical companies, clinical, and academic institutions to advance healthcare through real-time human biology insights. The company, headquartered in Uppsala, Sweden, operates across Europe, North America, and Asia. In 2019, a majority stake was acquired by private equity firm Summa Equity. Olink generated sales of $55 million in 2021, as disclosed in its IPO filing. On January 18, 2023, Olink launched a public offering of 5,831,028 American Depositary Shares (ADSs), including 4,250,000 from the company and 1,581,028 from selling shareholders, with an option for underwriters to purchase up to 874,654 more ADSs; Goldman Sachs and J.P. Morgan led the offering. No VC funding round or post-money valuation details match the approximate January 18, 2023 date; prior valuations include $2.02 billion in March 2021 linked to IPO activity and later a $3.1 billion enterprise value in the October 2023 acquisition by Thermo Fisher Scientific, completed July 2024.

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Acquisitions by Olink

Olink has acquired 1 company to date.

Last acquisition by Olink was on May 12th 2020. Olink acquired Agrisera for undisclosed valuation.


Latest Acquisitions by Olink

Agrisera
Description
Agrisera is a Swedish antibody producer that develops and manufactures polyclonal and monoclonal antibodies, with an extensive catalogue of primary and secondary antibodies. Its products serve plant science, algal research and general life science applications, sold to academic and commercial laboratories worldwide. Revenue comes from catalogue product sales and custom antibody production services.
HQ CountrySweden
HQ City
Vannas
Deal Date12 May 2020
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Olink Competitors

Olink competitors include listed companies like BillionToOne, Personalis, Vazyme Biotech and Sansure Biotech, and private ones like BGI Group and Sangon Biotech.

Public and private companies comparable to Olink
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BillionToOneUnited StatesUnited StatesPublicly listed$305M$12M$5.2B11.7x
PersonalisUnited StatesUnited StatesPublicly listed$70M($78M)$1.7B20.1x
Vazyme BiotechChinaChinaPublicly listed$205M$18M$1.6B6.0x
BGI GroupChinaShenzhenPrivate--$1.6B-
Sangon BiotechChinaShanghaiPrivate$102M-$1.4B13.7x
Sansure BiotechChinaChinaPublicly listed$245M$48M$1.4B4.1x

Olink Public Comps

Olink is no longer listed, but its public comps include Veracyte, GeneDx, GRAIL, CareDx, Bloomage BioTechnology, Celcuity, BGI Genomics, Generate Biomedicines, Oxford Nanopore Technologies and GemPharmatech.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Veracyte$517M$77M5.4x4.9x36.6x18.0x
GeneDx$428M$7M7.4x6.8x477.6x183.5x
GRAIL$147M($407M)19.0x16.3x(6.9x)(7.6x)
CareDx$380M($10M)6.5x5.3x(249.3x)41.0x
Bloomage BioTechnology$626M$103M3.8x4.1x22.9x23.1x
Celcuity-($172M)-163.2x(24.2x)(17.8x)
BGI Genomics$553M($20M)3.5x3.4x(96.4x)42.4x
Generate Biomedicines$32M($222M)56.4x59.4x(8.1x)(7.2x)

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Common questions about Olink

When was Olink founded?Olink was founded in 2004.
Where is Olink headquartered?Olink is headquartered in Uppsala, Sweden.
Is Olink publicly listed?No, Olink was acquired by Thermo Fisher Scientific in October 2023.
Who acquired Olink?Olink was acquired by Thermo Fisher Scientific in October 2023.
How much was Olink acquired for?Olink was acquired for $3.3B in October 2023, a 19.9x revenue multiple.
How much funding has Olink raised?Olink has raised $117M across 1 funding round.
What was Olink's last funding round?Olink's last funding round was a $117M undisclosed-stage round in January 2023.
Which companies are comparable to Olink?Companies comparable to Olink include BillionToOne, Personalis, Vazyme Biotech, BGI Group, Sangon Biotech and Sansure Biotech.
How many companies has Olink acquired?Olink has acquired 1 company, including Agrisera.

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