Shining3D to Spin Off Regenovo Bio-Printing Brand, Enter 3D Printing Resin Market
As we’ve mentioned on numerous occasions in the past, the Chinese 3D printing space has, up until recently, concentrated more on copying the technology of companies from the West rather than innovating and developing their own new technologies. This has been slowly changing, however, and there is no company which embodies these changes as well as Xiaoshan, Hangzhou, China-based Shining3D.
The publicly traded Shining3D has quickly emerged on the 3D printing and scanning scene, launching a series of new innovative products over the last 12 months. They also are the parent company of Regenovo Biotechnology, a 3D bio-printing company with Independent Intellectual Property Rights (IIPR) in China for a machine which they say can print a mini liver sample in under an hour’s time.
As competition in the bio-printing space heats up, and with the possibility to enter the multi-trillion dollar pharmaceutical and health care industries, Shining3D has this week decided to spin off Regenovo while seeking an investment amounting to ¥30 million (just over $4.8 million). Once funded, Regenovo Biotechnology Co., Ltd. will become a publicly traded entity with Shining3D being the majority shareholder with a 55% stake. This investment would of course pale in comparison to the funding that US-based Organovo is currently working with, but it would certainly go a long way in boosting their R&D budget.
“The funds raised will be mainly used for R&D and industrialization of 3D printing technology for bio-materials and cells and for the construction of a bio-medical 3D printing manufacturing service center,” the company told 3DPrint.com. “In the meanwhile, Regenovo Biotechnology Co., Ltd shall take proceed share structure reform and consider to be an independent public company in the near future.”
This is not all the news that Shining3D has announced this week, with the company also announcing the formation of another new subsidiary via a joint venture partnership with Ledao Strategic Materials Co., Ltd. As a part of this partnership, the two companies will form a new entity called Zhejiang Multi-dimension New Material Technology Co., Ltd., which will develop and market a new line of photosensitive resins for stereolithography 3D printing. Shining3D tells us that they expect to make a breakthrough within the space, and are already working on an organic silicone modified material which would greatly improve stability of 3D printed objects.
“This shall dramatically enrich the SLA material options and expand its technical application range,” explained Shining3D.
Their is no doubt that the materials space within the 3D printing market is quite important to the general development of the technology. Clearly Shining3D has major ambitions within the entire expanse of this market. It will be very interesting to see how quickly they are able to raise the investment capital for Regenovo, and also bring their new photosensitive resins to consumers and businesses alike.
Are you a shareholder of Shining3D? Have you used any of these products in the past? Let’s hear your thoughts on all of this news in the Shining3D & Regenovo Financing forum thread on 3DPB.com.
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