BIO-TECHNE ANNOUNCES NEW DISTRIBUTION AGREEMENT WITH LEADER LIFE SCIENCES

Rhea-AI Summary

Bio-Techne (NASDAQ: TECH) has announced a new distribution partnership with Leader Life Sciences to expand its presence in the Gulf Cooperation Council (GCC) countries. The agreement covers distribution in Bahrain, Oman, Qatar, Saudi Arabia, and United Arab Emirates. Leader Life Sciences will distribute Bio-Techne's comprehensive portfolio, including antibodies, proteins, immunoassay kits, enzymes, and spatial biology tools to biopharma companies, laboratories, hospitals, and universities in the GCC region. Bio-Techne generated approximately $1.2 billion in net sales in fiscal 2024 and employs over 3,100 people worldwide.

Positive

• Expansion into new markets through distribution agreement in GCC countries
• Access to established distribution network in Middle East and North Africa region
• $1.2 billion in net sales reported for fiscal 2024

Negative

• None.

Insights

Market Research Analyst

This distribution agreement marks a strategic expansion into the high-potential GCC markets, representing a meaningful growth opportunity for Bio-Techne. The MENA region's healthcare sector is experiencing rapid growth, with significant investments in research infrastructure and healthcare facilities. Leader Life Sciences' established presence and deep regional connections will help Bio-Techne tap into this expanding market more effectively.

The partnership gives Bio-Techne access to a network of biopharma companies, laboratories, hospitals and universities across six wealthy Gulf nations. With Bio-Techne's $1.2 billion in annual sales, this expansion could contribute meaningfully to revenue growth, particularly given the region's increasing focus on biotechnology and healthcare development. The comprehensive product portfolio coverage in the agreement, spanning antibodies to spatial biology tools, positions Bio-Techne to capture a larger share of the region's growing life sciences market.

MINNEAPOLIS, Nov. 20, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH), a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities today announced a partnership with Leader Life Sciences. Under the agreement, Leader Life Sciences becomes a distributor of Bio-Techne's portfolio across the Gulf Cooperation Council (GCC) countries, which include Bahrain, Oman, Qatar, Saudi Arabia, and United Arab Emirates.

Founded in 2020, Leader Life Sciences is a scientific solutions provider dedicated to empowering the research and diagnostic community in the Middle East and North Africa (MENA) region. Serving as a catalyst for innovation, they collaborate with private and public research centers, educational institutions, and healthcare facilities to bring scientific visions to life. Their expertise spans a wide range of domains, including lab automation, digital pathology, turnkey laboratory projects and diagnostics, and beyond. Under this agreement, Leader Life Sciences will distribute Bio-Techne's extensive portfolio of innovative products, including antibodies, proteins, immunoassay kits, enzymes, small molecules, proteomic analysis instruments, and spatial biology tools to biopharma companies, laboratories, hospitals, and universities in the GCC region.

"We are excited to partner with Leader Life Sciences to expand the reach of our products and services throughout the GCC countries," said Dr. Peter Schüßler, Vice President and General Manager of Bio-Techne's EMEA region. "Leader Life Sciences' extensive distribution network and industry expertise paired with Bio-Techne's innovative portfolio is the ideal combination to catalyze advances in science and medicine in the region."

"We are thrilled to partner with Bio-Techne, a global leader in innovative life sciences solutions. This collaboration marks a pivotal step in our mission to empower researchers, scientists, and diagnosticians in the MENA region. Together, we are committed to providing cutting-edge technologies that accelerate discovery and enhance advancements in diagnostics, reinforcing our dedication to driving progress of the scientific community of the region," said Nirmal Kumar, Managing Director at Leader Life Sciences.

For more information about Bio-Techne and its range of products and services, visit our Website.

About Bio-Techne:
Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities. Bio-Techne products assist scientific investigations into biological processes and the nature and progress of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With hundreds of thousands of products in its portfolio, Bio-Techne generated approximately $1.2 billion in net sales in fiscal 2024 and has over 3,100 employees worldwide. For more information on Bio-Techne and its brands, please visit https://www.bio-techne.com or follow the Company on social media at: Facebook, LinkedIn, Twitter or YouTube.

Bio-Techne Contact:
David Clair, Vice President, Investor Relations & Corporate Development
david.clair@bio-techne.com
612-656-4416

Leader Life Sciences Contact:

rahaf@leaderlifesciences.com

nirmal@leaderlifesciences.com

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SOURCE Bio-Techne Corporation

FAQ

What regions will Bio-Techne's distribution agreement with Leader Life Sciences cover?

The distribution agreement covers the Gulf Cooperation Council (GCC) countries, including Bahrain, Oman, Qatar, Saudi Arabia, and United Arab Emirates.

What products will Leader Life Sciences distribute for Bio-Techne (TECH)?

Leader Life Sciences will distribute Bio-Techne's portfolio including antibodies, proteins, immunoassay kits, enzymes, small molecules, proteomic analysis instruments, and spatial biology tools.

What was Bio-Techne's (TECH) net sales for fiscal 2024?

Bio-Techne reported approximately $1.2 billion in net sales for fiscal 2024.