Bio-Techne and QIAGEN Announce Expansion and Extension of Exosome Partnership
Bio-Techne Corporation (NASDAQ: TECH) and QIAGEN N.V. have expanded their non-exclusive partnership focusing on exosome technology. The agreement allows QIAGEN to use Bio-Techne's exosome technology for developing companion in vitro diagnostic products. This partnership will promote the technology among biopharma partners for an initial 24 months, potentially extendable. Furthermore, both companies are extending their exclusive collaboration for product development through Exosome Diagnostics until 2028, enhancing marketing efforts around exosome technologies.
- Expansion of partnership with QIAGEN enhances market reach for exosome technology.
- Agreement allows joint development of innovative diagnostic products.
- Initial 24-month marketing phase indicates strong commitment to collaboration.
- None.
MINNEAPOLIS, Sept. 17, 2020 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) and QIAGEN N.V. today announced the expansion and extension of a non-exclusive partnership to co-market exosome technology to existing and potential biopharma partners as well as the joint development of new exosome based products.
The agreement grants QIAGEN a non-exclusive development license to Bio-Techne's exosome technology for the development of companion in vitro diagnostic products (CDX-IVD) for existing and potential biopharma partners. Following the agreement, both Bio-Techne and QIAGEN will be actively promoting the use of exosome technology to their respective global biopharma partners. The initial phase of the co-marketing agreement lasts 24 months, with the potential to extend longer upon the fulfillment of certain conditions.
The two companies also announced the extension and expansion of the existing exclusive collaboration and license agreement that was originally in place between Exosome Diagnostics (now a Bio-Techne company) and QIAGEN. The agreement includes leveraging Exosome Diagnostics' proprietary platforms for biomarker discovery for the joint development of new products and for ongoing marketing activities to promote exosome technologies. The extended collaboration and joint product development agreement ends in 2028 and can be extended if mutually agreed to by both companies.
"QIAGEN is an ideal partner to co-market and co-develop products leveraging our proprietary exosome technology," commented Chuck Kummeth, President and Chief Executive Officer of Bio-Techne. "We are excited to expand our partnership with an established global diagnostics leader and anticipate both companies as well as current and future biopharma partners to benefit from the expanded agreement."
"Bio-Techne's exosome technology represents a novel diagnostic approach with broad applications that will be especially beneficial to our global pharma partners," said Thierry Bernard, Chief Executive Officer of QIAGEN. "We see numerous applications for this technology and remain enthusiastic on its potential. We look forward to co-marketing this technology and collaborating on innovative companion diagnostic products for our global biopharma partners."
About Bio-Techne Corporation (NASDAQ: TECH)
Contact: David Clair, Senior Director, Investor Relations & Corporate Development
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SOURCE Bio-Techne Corporation
FAQ
What is the significance of the Bio-Techne and QIAGEN partnership announced on September 17, 2020?
How long is the initial phase of the Bio-Techne and QIAGEN co-marketing agreement?
What products will Bio-Techne and QIAGEN focus on developing?
What is the end date for the extended collaboration agreement between Bio-Techne and QIAGEN?
What potential benefits does QIAGEN see in Bio-Techne's exosome technology?
