BIO-TECHNE ANNOUNCES STRATEGIC INVESTMENT IN SPEAR BIO

Rhea-AI Summary

Bio-Techne (NASDAQ: TECH) has announced its participation in Spear Bio's $45 million Series A funding round. Spear Bio, founded in 2021, is developing ultra-sensitive immunoassays capable of measuring protein biomarkers at attomolar levels from sub-microliter sample volumes. Their proprietary Successive Proximity Extension Amplification Reaction (SPEAR) technology offers significant advantages over traditional immunoassay and next-gen proteomic technologies.

The funding will accelerate Spear Bio's product development and scale its in-house manufacturing capacity. The company's initial offering will focus on key biomarkers supporting translational research in Alzheimer's disease. Bio-Techne's CEO, Kim Kelderman, expressed excitement about the investment, highlighting the potential for early diagnosis of neurodegenerative diseases using Spear Bio's technology.

Positive

• Strategic investment in Spear Bio's $45 million Series A funding round
• Potential access to ultra-sensitive immunoassay technology for detecting low abundant biomarkers
• Expansion into high-growth markets, including early diagnosis of neurodegenerative diseases
• Compatibility with existing qPCR equipment in research and clinical facilities

Negative

• None.

Biotechnology Analyst

Bio-Techne's strategic investment in Spear Bio represents a significant move in the ultra-sensitive immunoassay market. The $45 million Series A funding round, with Bio-Techne's participation, underscores the potential of Spear Bio's proprietary SPEAR technology.

The key advantages of SPEAR technology include:

• Attomolar-level sensitivity for protein biomarkers
• Sub-microliter sample volume requirements
• Reduced background noise compared to conventional proximity-based assays
• Compatibility with standard qPCR instruments

This investment aligns with Bio-Techne's strategy to expand its portfolio in high-growth markets, particularly in neurodegenerative disease research. The ability to detect biomarkers at extremely low concentrations could be a game-changer for early diagnosis and monitoring of conditions like Alzheimer's disease.

For investors, this move signals Bio-Techne's commitment to staying at the forefront of biomarker detection technology. The partnership with Spear Bio could potentially lead to new product offerings and revenue streams in the rapidly growing precision medicine market.

However, it's important to note that the success of this investment will depend on Spear Bio's ability to successfully commercialize its technology and gain market adoption. The competitive landscape in biomarker detection is intense and Spear Bio will need to demonstrate clear advantages over existing technologies to capture market share.

Financial Analyst

Bio-Techne's investment in Spear Bio's Series A funding round is a strategic move that could potentially yield significant returns. While the exact amount of Bio-Techne's investment isn't disclosed, participation in a $45 million round suggests a substantial financial commitment.

Key financial implications to consider:

• Potential for future revenue growth if Spear Bio's technology is successfully commercialized
• Diversification of Bio-Techne's investment portfolio in the high-growth biotech sector
• Possible synergies with Bio-Techne's existing product lines, potentially leading to cost savings or new product development opportunities

Investors should note that early-stage biotech investments carry inherent risks. The path from technology development to market success can be long and uncertain. However, if Spear Bio's technology delivers on its promise, it could open up new markets and drive significant value for Bio-Techne.

The investment also aligns with broader industry trends towards precision medicine and early disease detection, which are expected to see robust growth in the coming years. This strategic positioning could enhance Bio-Techne's long-term competitive advantage in the life sciences tools and diagnostics market.

While the immediate financial impact on Bio-Techne may be , the long-term potential of this investment should be closely monitored by investors as Spear Bio progresses in its product development and commercialization efforts.

MINNEAPOLIS, July 29, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today announced its participation in Spear Bio's $45 million Series A funding round. Spear Bio will use the proceeds from this funding round to further accelerate product development and scale its in-house manufacturing capacity. Bio-Techne joined Foresite Capital, and other investors, in this funding round.

Founded in 2021 and headquartered in Woburn, Massachusetts, Spear Bio is an innovative leader in the development, and manufacture of ultra-sensitive immunoassays capable of measuring protein biomarkers at attomolar level from sub-microliter sample volume. Spear Bio's proprietary Successive Proximity Extension Amplification Reaction (SPEAR) technology is exclusively licensed from the Wyss Institute for Biologically Inspired Engineering at Harvard University. SPEAR leverages target-binding probes that bind to proximal sites in a protein's structure. This double-tagging event enables the two specially-designed probes to "shake hands" multiple times under a time-controlled manner to ensure true target-induced proximity and synthesize a unique DNA sequence which can then be amplified and quantified using standard qPCR instruments. In the absence of target protein, the transient interaction between free-floating probes does not allow multiple "shake hands" to initiate the synthesis of the amplifiable DNA sequence, reducing background over three orders of magnitude compared to conventional proximity-based assays. The ultra-sensitivity offered by Spear Bio's technology makes it ideal for measuring historically challenging low abundant biomarkers in neurology, inflammation and oncology. The initial offering will focus on key biomarkers supporting translational research in Alzheimer's disease.

"We are excited to invest in Spear Bio," said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. "Spear Bio's ultra-sensitive detection technology offers significant advantages over traditional immunoassay and next-gen proteomic technologies, enabling the quantification of mere dozens of protein molecules in a sample. This level of sensitivity unlocks several challenging applications and high growth markets, including early diagnosis of neurodegenerative diseases. Importantly, Spear Bio's assays run on qPCR equipment, which is routinely found in research and clinical facilities, representing an existing installed base to run these groundbreaking assays."

"Having an industry leader like Bio-Techne invest in Spear Bio is a testament to the high potential of the SPEAR technology," said Feng Xuan, Ph.D., Cofounder and Chief Executive Officer of Spear Bio. "Following this funding round, Spear Bio is ideally positioned to rapidly deploy our next-generation assay technology and enable the detection of biomarkers in historically challenging conditions, including neurodegenerative diseases."

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 thousands of products in its portfolio, Bio-Techne generated over $1.1 billion in net sales in fiscal 2023 and has approximately 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.

About Spear Bio
Spear Bio – founded in 2021 and headquartered in Woburn, Massachusetts – is an innovative leader in providing scalable solutions for ultra-sensitive protein biomarker measurements. Spear Bio's proprietary technology, Successive Proximity Extension Amplification Reaction (SPEAR), employs a unique 2-factor authentication mechanism to precisely measure protein biomarkers at attomolar level from sub-microliter sample volume. Spear Bio is focused on leveraging its technology's unprecedented sensitivity to transform protein research and early disease diagnosis.

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

 

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SOURCE Bio-Techne Corporation

FAQ

What is Bio-Techne's (TECH) recent investment in Spear Bio?

Bio-Techne (NASDAQ: TECH) recently participated in Spear Bio's $45 million Series A funding round, investing in the company's ultra-sensitive immunoassay technology for detecting protein biomarkers at attomolar levels.

How will Spear Bio use the funding received from Bio-Techne (TECH) and other investors?

Spear Bio will use the proceeds from the $45 million Series A funding round to accelerate product development and scale its in-house manufacturing capacity for their ultra-sensitive immunoassay technology.

What is the potential impact of Spear Bio's technology on Bio-Techne's (TECH) business?

Spear Bio's technology could enable Bio-Techne (TECH) to expand into high-growth markets, particularly in early diagnosis of neurodegenerative diseases like Alzheimer's, by offering ultra-sensitive detection of protein biomarkers.

What is unique about Spear Bio's SPEAR technology that Bio-Techne (TECH) has invested in?

Spear Bio's SPEAR technology offers ultra-sensitive detection of protein biomarkers at attomolar levels from sub-microliter sample volumes, providing significant advantages over traditional immunoassay and next-gen proteomic technologies.