Welcome to our dedicated page for Bio-Techne news (Ticker: TECH), a resource for investors and traders seeking the latest updates and insights on Bio-Techne stock.
Bio-Techne Corporation (NASDAQ: TECH) is a pioneering global life sciences company based in Minnesota. Specializing in bioactive tools and reagents, Bio-Techne serves the research and clinical diagnostic communities. The company's extensive product portfolio, exceeding 275,000 items, supports scientific investigations into biological processes and disease mechanisms, facilitating both drug discovery and accurate clinical testing.
Bio-Techne operates through two main segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment, which accounts for 75% of revenue, provides reagents such as antibodies and analytical instruments for life sciences research. The Diagnostics and Genomics segment, representing 25% of revenue, offers diagnostic reagents and molecular diagnostics, with a strong footprint in spatial biology products.
Geographically, the United States is Bio-Techne's largest market, contributing about 55% of its revenue. The company also maintains significant operations in Europe, the Middle East, Africa (20%), the UK (5%), and Asia-Pacific (15%).
In recent news, Bio-Techne has been active on multiple fronts:
- Legal Actions: Bio-Techne initiated legal proceedings in the Unified Patent Court to address patent infringements related to its RNAscope® ISH technology by Molecular Instruments, Inc.
- Innovations: Partnering with Novomol-Dx, Bio-Techne introduced the Bio-Marker Pathfinder (BMP), a point-of-care ocular biomarker kit leveraging its Ella™ platform for rapid diagnostics in ophthalmic diseases.
- Strategic Collaborations: Bio-Techne entered a distribution agreement with Thermo Fisher Scientific to expand product access across Europe and announced continued collaboration with Regulus Therapeutics, highlighting positive results in ADPKD treatment using Bio-Techne's Simple Western™ platforms.
- Financial Performance: Bio-Techne reported a modest 3% revenue increase for Q3 FY2024 despite challenging market conditions, underscoring strong operational execution and strategic investments.
- Product Showcases: The company unveiled its MauriceFlex™ System at the 72nd ASMS Conference, demonstrating innovative solutions for protein characterization.
With over 3,100 employees worldwide, Bio-Techne generated over $1.1 billion in net sales in fiscal 2023. The company continues to drive significant advancements in life sciences and healthcare through its robust portfolio and strategic initiatives.
Bio-Techne (NASDAQ: TECH) announced its participation in the Association for Molecular Pathology (AMP) 2024 Annual Meeting & Expo from November 19-23 in Vancouver. Through its brand Asuragen, the company will showcase new research products for breast cancer monitoring and carrier screening at booth #811. The event features workshops on the QuantideX® qPCR ESR1 exoMutation Kit and AmplideX® Nanopore Carrier Plus Kit, along with discussions on LDT compliance. Multiple research posters will be presented covering topics including ESR1 mutations detection, complex variant genotyping, and molecular testing advances.
Bio-Techne (NASDAQ: TECH) has achieved Class B In Vitro Diagnostic Regulation (IVDR) certification for its R&D Systems Hematology Controls and Calibrators, updating from the prior Class C classification. This certification validates compliance with European Union regulations for in-vitro diagnostic devices, confirming the products' quality standards, accuracy, precision, and reliability. The certification represents a significant milestone for Bio-Techne in supporting healthcare professionals with high-quality laboratory testing components.
Bio-Techne (NASDAQ: TECH) has achieved IVDR certification for its R&D Systems Hematology Controls and Calibrators, confirming compliance with European Union regulations for in-vitro diagnostic devices. This certification underscores the products' high quality, accuracy, precision, and reliability. It represents a significant milestone in Bio-Techne's dedication to supporting healthcare professionals with top-tier laboratory components. The certified Hematology Controls and Calibrators are vital for ensuring accurate patient testing in laboratories, meeting stringent hematology standards.
Bio-Techne (NASDAQ: TECH) has announced its participation in three upcoming investor conferences in November 2024. The company will present at the UBS Global Healthcare Conference on November 12 at 9:30 AM PST, the Stifel 2024 Healthcare Conference on November 19 at 8:00 AM EST, and the Stephens NASH 2024 Conference on November 20 at 11:00 AM CST. Interested parties can access live webcasts of all presentations through Bio-Techne's Investor Relations website's IR Calendar page.
ScaleReady has awarded G-Rex Grants totaling $475,000 to three leading investigators at Baylor College of Medicine's Center for Cell and Gene Therapy (CAGT).
Dr. Ann Leen received $275,000 for research on T cell therapies for AML and MDS. Dr. Katie McKenna received $100,000 to develop 3D tumor spheroid models. Dr. Dimitrios Laurin Wagner and Dr. Marie Pouzolles received $100,000 for non-viral gene editing platforms to create immune cell therapies.
The G-Rex Grant Program is a $20M initiative aimed at advancing cell and gene therapy development and manufacturing.
Bio-Techne (NASDAQ: TECH) will showcase its portfolio at the Society for Immunotherapy of Cancer (SITC) 39th Annual Meeting from November 6-10, 2024, in Houston, Texas. The company's spatial biology brands, Advanced Cell Diagnostics (ACD) and Lunaphore, will present their innovations at booths #613 and #701 respectively.
ACD will showcase spatial multiomics products featuring RNAscope™ technology, while Lunaphore will demonstrate its automated COMET™ suite and HORIZON™ image analysis software. The company will present multiple posters highlighting research applications, including multiomic mapping of the brain, immune cell profiling, and biomarker detection studies. Collaborative research presentations with prominent institutions will also be featured.
Bio-Techne announced significant clinical data from its Lunaphore COMET spatial biology platform. The platform integrates with clinical research workflows and uses IHC-validated antibodies for rapid panel development. Research conducted with the National Tumor Institute and Nucleai revealed tumor microenvironment features that could predict therapy response in melanoma patients. The study combined multiplex immunofluorescence with AI-powered biomarker analysis, marking the first application of this technology in a clinical trial. Additional research with Johns Hopkins University demonstrated the platform's novel amplification technique for comprehensive tumor profiling.
Bio-Techne (NASDAQ: TECH) has declared a quarterly dividend of $0.08 per share for the quarter ended September 30, 2024. The dividend will be paid on November 22, 2024, to shareholders of record as of November 11, 2024. The company, which provides innovative tools and bioactive reagents for research and clinical diagnostics, reported net sales of approximately $1.2 billion in fiscal 2024 and employs around 3,100 people globally.
Bio-Techne (NASDAQ: TECH) reported Q1 FY2025 results with organic revenue growth of 4% (5% reported) to $289.5 million. GAAP EPS decreased to $0.21 from $0.31 year-over-year, while adjusted EPS slightly increased to $0.42 from $0.41. The Diagnostics & Spatial Biology segment showed strong performance with 14% organic growth. The Protein Sciences segment remained flat at $204.5 million with 1% organic growth. GAAP operating margin declined to 13.8% from 20.2%, while adjusted operating margin decreased to 29.0% from 31.4% due to product mix and compensation accruals.
ScaleReady announced that Luminary Therapeutics has been awarded a $300,000 G-Rex® Grant in collaboration with Wilson Wolf Manufacturing and Bio-Techne (NASDAQ: TECH). The grant will support development of novel CAR γδ T cell therapies for autoimmune conditions. Luminary's approach combines Vδ1 and Vδ2 subsets with immune cloaking mechanism and utilizes Bio-Techne's TcBuster™ technology. The company claims their manufacturing process can produce 180-200 patient doses per run at less than $10,000 per drug product. The grant is part of ScaleReady's $20M initiative to advance cell and gene therapy development.
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