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Apr 18, 2016 · 20m · top-founders

He 3D Prints Body Parts And Will Do $4m in 2016 with Erik Gatenholm of CellInk EP 241

Erik Gatenholm · 9m spoken Nathan Latka · 8m spoken
0:00 / 0:00

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In this episode of The Top, host Nathan Latka interviews CELLINK co-founder Erik Gatenholm to examine how the biotech startup is revolutionizing 3D bioprinting and human tissue fabrication while rapidly scaling hardware and bioink revenue. The discussion uncovers Gatenholm's entrepreneurial background, deep-tech licensing strategies, capital fundraising mechanics, and commercial projections for disruptive biomedical engineering.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 45.6% of the talking time here. How this is scored →

Nathan as informed peer 4.6 Guest teaching 3.0 Guest disagreement 1.1 Nathan pushing back 2.9
05100:0010:0020:000:27–4:56 · Nathan as informed peer 6/10 Weekly Giveaway Winner and Episode Teasers Nathan digs aggressively into the details of Erik's first company exit, pressing on valuation, equity retained, and asking a structured yes-or-no question when Erik cites an NDA.4:56–7:00 · Nathan as informed peer 4/10 Pursuing Credibility and Academia in Sweden Erik explains the necessity of academic credentials and key opinion leaders (KOLs) in biotech, educating Nathan on why he chose to return for a master's degree despite earlier entrepreneurial success.7:00–9:04 · Nathan as informed peer 5/10 The Founding of CELLINK and Technology Licensing Nathan inquires about potential nepotism regarding Erik's father's technology, prompting Erik to clearly explain the formal licensing agreement and buyout clause.9:04–11:35 · Nathan as informed peer 7/10 Navigating Seed Funding and Swedish Investment Dynamics Nathan demonstrates strong knowledge of venture financing terms, comparing Swedish convertible note expectations with standard US discount rates, interest rates, and conversion timelines.11:35–14:19 · Nathan as informed peer 3/10 The Science of 3D Bioprinting and Bioink Nathan asks practical questions about why a customer would need printed organs and how mirror imaging works, while Erik patiently details how hydrogels and cellular bioinks function.14:19–16:34 · Nathan as informed peer 6/10 CELLINK Business Model, Economics, and Future Projections Nathan quickly calculates gross margins and unit economics on the 5,000-dollar bioprinter, prompting Erik to reveal that tissue printing contracts form the larger bulk of anticipated 2016 revenues.16:36–19:27 · Nathan as informed peer 1/10 Mid-Roll Sponsorship: HostGator and Community Announcements A standard sponsor read followed by the rapid-fire Famous Five segment, characterized by brief, straightforward answers and promotional wrap-up.0:27–4:56 · Guest teaching 2/10 Weekly Giveaway Winner and Episode Teasers Nathan digs aggressively into the details of Erik's first company exit, pressing on valuation, equity retained, and asking a structured yes-or-no question when Erik cites an NDA.4:56–7:00 · Guest teaching 5/10 Pursuing Credibility and Academia in Sweden Erik explains the necessity of academic credentials and key opinion leaders (KOLs) in biotech, educating Nathan on why he chose to return for a master's degree despite earlier entrepreneurial success.7:00–9:04 · Guest teaching 2/10 The Founding of CELLINK and Technology Licensing Nathan inquires about potential nepotism regarding Erik's father's technology, prompting Erik to clearly explain the formal licensing agreement and buyout clause.9:04–11:35 · Guest teaching 3/10 Navigating Seed Funding and Swedish Investment Dynamics Nathan demonstrates strong knowledge of venture financing terms, comparing Swedish convertible note expectations with standard US discount rates, interest rates, and conversion timelines.11:35–14:19 · Guest teaching 6/10 The Science of 3D Bioprinting and Bioink Nathan asks practical questions about why a customer would need printed organs and how mirror imaging works, while Erik patiently details how hydrogels and cellular bioinks function.14:19–16:34 · Guest teaching 2/10 CELLINK Business Model, Economics, and Future Projections Nathan quickly calculates gross margins and unit economics on the 5,000-dollar bioprinter, prompting Erik to reveal that tissue printing contracts form the larger bulk of anticipated 2016 revenues.16:36–19:27 · Guest teaching 1/10 Mid-Roll Sponsorship: HostGator and Community Announcements A standard sponsor read followed by the rapid-fire Famous Five segment, characterized by brief, straightforward answers and promotional wrap-up.0:27–4:56 · Guest disagreement 2/10 Weekly Giveaway Winner and Episode Teasers Nathan digs aggressively into the details of Erik's first company exit, pressing on valuation, equity retained, and asking a structured yes-or-no question when Erik cites an NDA.4:56–7:00 · Guest disagreement 1/10 Pursuing Credibility and Academia in Sweden Erik explains the necessity of academic credentials and key opinion leaders (KOLs) in biotech, educating Nathan on why he chose to return for a master's degree despite earlier entrepreneurial success.7:00–9:04 · Guest disagreement 1/10 The Founding of CELLINK and Technology Licensing Nathan inquires about potential nepotism regarding Erik's father's technology, prompting Erik to clearly explain the formal licensing agreement and buyout clause.9:04–11:35 · Guest disagreement 1/10 Navigating Seed Funding and Swedish Investment Dynamics Nathan demonstrates strong knowledge of venture financing terms, comparing Swedish convertible note expectations with standard US discount rates, interest rates, and conversion timelines.11:35–14:19 · Guest disagreement 2/10 The Science of 3D Bioprinting and Bioink Nathan asks practical questions about why a customer would need printed organs and how mirror imaging works, while Erik patiently details how hydrogels and cellular bioinks function.14:19–16:34 · Guest disagreement 1/10 CELLINK Business Model, Economics, and Future Projections Nathan quickly calculates gross margins and unit economics on the 5,000-dollar bioprinter, prompting Erik to reveal that tissue printing contracts form the larger bulk of anticipated 2016 revenues.16:36–19:27 · Guest disagreement 0/10 Mid-Roll Sponsorship: HostGator and Community Announcements A standard sponsor read followed by the rapid-fire Famous Five segment, characterized by brief, straightforward answers and promotional wrap-up.0:27–4:56 · Nathan pushing back 5/10 Weekly Giveaway Winner and Episode Teasers Nathan digs aggressively into the details of Erik's first company exit, pressing on valuation, equity retained, and asking a structured yes-or-no question when Erik cites an NDA.4:56–7:00 · Nathan pushing back 2/10 Pursuing Credibility and Academia in Sweden Erik explains the necessity of academic credentials and key opinion leaders (KOLs) in biotech, educating Nathan on why he chose to return for a master's degree despite earlier entrepreneurial success.7:00–9:04 · Nathan pushing back 4/10 The Founding of CELLINK and Technology Licensing Nathan inquires about potential nepotism regarding Erik's father's technology, prompting Erik to clearly explain the formal licensing agreement and buyout clause.9:04–11:35 · Nathan pushing back 3/10 Navigating Seed Funding and Swedish Investment Dynamics Nathan demonstrates strong knowledge of venture financing terms, comparing Swedish convertible note expectations with standard US discount rates, interest rates, and conversion timelines.11:35–14:19 · Nathan pushing back 3/10 The Science of 3D Bioprinting and Bioink Nathan asks practical questions about why a customer would need printed organs and how mirror imaging works, while Erik patiently details how hydrogels and cellular bioinks function.14:19–16:34 · Nathan pushing back 3/10 CELLINK Business Model, Economics, and Future Projections Nathan quickly calculates gross margins and unit economics on the 5,000-dollar bioprinter, prompting Erik to reveal that tissue printing contracts form the larger bulk of anticipated 2016 revenues.16:36–19:27 · Nathan pushing back 0/10 Mid-Roll Sponsorship: HostGator and Community Announcements A standard sponsor read followed by the rapid-fire Famous Five segment, characterized by brief, straightforward answers and promotional wrap-up.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 60.3% · guest 39.7%0:00 · Nathan 60.3% · guest 39.7%3:00 · Nathan 35.3% · guest 64.7%3:00 · Nathan 35.3% · guest 64.7%6:00 · Nathan 28.6% · guest 71.4%6:00 · Nathan 28.6% · guest 71.4%9:00 · Nathan 40.8% · guest 59.2%9:00 · Nathan 40.8% · guest 59.2%12:00 · Nathan 18.2% · guest 81.8%12:00 · Nathan 18.2% · guest 81.8%15:00 · Nathan 67.1% · guest 32.9%15:00 · Nathan 67.1% · guest 32.9%18:00 · Nathan 74.7% · guest 25.3%18:00 · Nathan 74.7% · guest 25.3%
Sharpest disagreement ▶ 13:00 Skeptical questioning on ear reconstruction utility

Nathan questions why anyone would need a printed ear, prompting Erik to clarify practical trauma and burn cases.

 Hardest push from Nathan ▶ 4:46 Nathan circumvents NDA constraint with structured question

When Erik cannot reveal specific exit figures due to an NDA, Nathan pushes back with a yes-or-no threshold question to pin down the valuation range.

 Biggest teaching moment ▶ 5:26 Erik educates host on Key Opinion Leaders

Erik systematically breaks down the biotech hierarchy, explaining how surgeon buy-in and KOL boards dictate commercial success.

 Nathan holds their own ▶ 10:23 Nathan analyzes note mechanics and investor leverage

Nathan benchmarks convertible note discount rates and explains why 12-month conversion clauses represent leverage rather than insolvency threats.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Weekly Giveaway Winner and Episode Teasers 6225 Nathan digs aggressively into the details of Erik's first company exit, pressing on valuation, equity retained, and asking a structured yes-or-no question when Erik cites an NDA.
Pursuing Credibility and Academia in Sweden 4512 Erik explains the necessity of academic credentials and key opinion leaders (KOLs) in biotech, educating Nathan on why he chose to return for a master's degree despite earlier entrepreneurial success.
The Founding of CELLINK and Technology Licensing 5214 Nathan inquires about potential nepotism regarding Erik's father's technology, prompting Erik to clearly explain the formal licensing agreement and buyout clause.
Navigating Seed Funding and Swedish Investment Dynamics 7313 Nathan demonstrates strong knowledge of venture financing terms, comparing Swedish convertible note expectations with standard US discount rates, interest rates, and conversion timelines.
The Science of 3D Bioprinting and Bioink 3623 Nathan asks practical questions about why a customer would need printed organs and how mirror imaging works, while Erik patiently details how hydrogels and cellular bioinks function.
CELLINK Business Model, Economics, and Future Projections 6213 Nathan quickly calculates gross margins and unit economics on the 5,000-dollar bioprinter, prompting Erik to reveal that tissue printing contracts form the larger bulk of anticipated 2016 revenues.
Mid-Roll Sponsorship: HostGator and Community Announcements 1100 A standard sponsor read followed by the rapid-fire Famous Five segment, characterized by brief, straightforward answers and promotional wrap-up.

Statements from this episode (10)

Insight
Biotech startups scale through boards of Key Opinion Leaders
“And the KOLs is key opinion leaders. It's kind of a board and special board that you establish of key surgeons and doctors in your field. We're interested in implanting this into animals or into humans. So these are basically your go-to customers that you want…”
Erik Gatenholm Apr 18, 2016 ▶ 5:42
Assertion Not checkable as stated
CELLINK's biomaterial license features a six-figure buyout clause
“The buyout clause is for a few 100,000 dollars.”
Erik Gatenholm Apr 18, 2016 ▶ 8:32
Assertion Not checkable as stated
Gatenholm: CELLINK pays a couple thousand dollars monthly for biomaterial license
“Oh, it's minimal. I mean, a couple of thousand dollars.”
Erik Gatenholm Apr 18, 2016 ▶ 8:38
Insight
Gatenholm: Swedish Series A rounds can be as small as $500,000
“A Swedish round a could be basically 500,000 dollars.”
Erik Gatenholm Apr 18, 2016 ▶ 9:24
Disclosure
CELLINK is raising a $200,000 seed round
“We're raising about 200,000 dollars right now.”
Erik Gatenholm Apr 18, 2016 ▶ 9:55
Assertion Not checkable as stated
Gatenholm: Swedish convertible notes typically convert within 12 months
“But it needs to be converted typically within 12 months.”
Erik Gatenholm Apr 18, 2016 ▶ 11:00
Assertion Partly supported
Gatenholm: CELLINK's bioink is an 80% water natural polymer hydrogel
“It's a natural polymer. It's a hydrogel, which we call it. It contains, you know, about 80% water and it's, it needs to look and feel just like human tissue so that the human cells can, you know, thrive within it.”
Erik Gatenholm Apr 18, 2016 ▶ 13:49
Disclosure
CELLINK has sold approximately 40 bioprinters so far
“We have sold about 40 so far.”
Erik Gatenholm Apr 18, 2016 ▶ 14:57
Disclosure
CELLINK achieves roughly 82% margins on its bioprinters
“We have about 82% margins on them.”
Erik Gatenholm Apr 18, 2016 ▶ 15:11
Prediction Didn’t hold up
CELLINK projects $4 million in total revenue for 2016
“Total 20 16 revenue, we're going to come up to approximately four four million dollars.”
Erik Gatenholm Apr 18, 2016 ▶ 15:55
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