Bio-Techne Files Patent Infringement Lawsuit Against Molecular Instruments
Bio-Techne Corporation (NASDAQ: TECH) has initiated legal action against Molecular Instruments, Inc. in the UK, claiming infringement of its patented RNAscope® ISH technology. The lawsuit targets Molecular Instruments' HCR 3.0 technology, alleging violations of its European Patents 2,500,439 and 1,910,572. Bio-Techne's RNAscope® technology, known for its reliability in spatial biology, has over 6,000 peer-reviewed publications and 40,000 catalog probes. The company emphasizes the importance of protecting its intellectual property, which it views as critical for innovation and research advancement.
- Bio-Techne reinforces its commitment to its RNAscope® technology through legal action, potentially enhancing its market position.
- The extensive patent portfolio solidifies Bio-Techne's competitive edge in the spatial biology market.
- Ongoing legal disputes could divert resources and attention from research and development.
- Legal actions may lead to prolonged litigation costs and uncertainty regarding market share against competitors.
Bio-Techne enforces intellectual property for gold standard RNAscope® ISH technology in spatial biology and clinical applications.
MINNEAPOLIS, Sept. 26, 2022 /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 that it has taken legal action in the United Kingdom to halt the infringement of its patented RNAscope® ISH technology by Molecular Instruments, Inc.
Advanced Cell Diagnostics, a Bio-Techne brand, owns patents covering various features of its RNAscope® technology. RNAscope® is the gold standard for in situ hybridization (ISH), trusted by researchers around the globe, with a rapidly growing list of over 6,000 peer reviewed publications. With over 40,000 unique RNAscope® ISH catalog probes available in over 400 species and fast, expert custom probe design, researchers have the flexibility to spatially interrogate any gene across a wide array of diseases and tissues with unparalleled sensitivity and specificity.
In its lawsuit filed in the UK Patents Court, Bio-Techne alleges that Molecular Instruments' HCR 3.0 technology infringes Bio-Techne's European Patents (UK) 2,500,439 and 1,910,572. The lawsuit seeks damages and injunctive relief requiring Molecular Instruments to stop infringing Bio-Techne's patents in the United Kingdom.
"Bio-Techne has made substantial investments in the development and application of its RNAscope® technology to advance research discovery and accelerate diagnostic and therapeutic product development," said Chuck Kummeth, President and Chief Executive Officer of Bio-Techne. "Our intellectual property portfolio is foundational to our innovation in the spatial biology detection space, and we are committed to protecting these investments and defending our intellectual property rights."
About Bio-Techne Corporation (NASDAQ: TECH)
Contact: David Clair, Vice President, Investor Relations
david.clair@bio-techne.com
612-656-441
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SOURCE Bio-Techne Corporation
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