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) has partnered with Lunaphore to create an automated spatial multiomics workflow aimed at enhancing research in disease analysis and therapeutic development. This collaboration integrates Bio-Techne's RNAscope™ technology with Lunaphore's seqIF™ system for simultaneous detection of protein and RNA biomarkers. The innovative solution promises flexibility in panel designs and is expected to streamline workflows for researchers focused on various diseases, including cancer and neurodegenerative disorders. With RNAscope™'s extensive catalog of over 45,000 probes and proven sensitivity, the partnership aims to significantly accelerate the discovery of novel diagnostics and therapeutics.
Bio-Techne Corporation (NASDAQ: TECH) announced its participation in the American Association for Cancer Research (AACR) annual meeting from April 14-19, 2023, in Orlando, Florida. The company will showcase its extensive portfolio of products aimed at advancing cancer research and facilitating cell and gene therapy development. Featured products include reagents, immunoassays, proteomic instruments, and spatial biology solutions. Several scientists from Bio-Techne will present posters on topics such as biomarkers, structural biology, and spatial biology. Bio-Techne generated approximately $1.1 billion in net sales in fiscal 2022 and employs about 3,000 people globally.
Bio-Techne Corporation (NASDAQ: TECH) will host a conference call and webcast on May 3, 2023, at 8:00 a.m. CDT to discuss its third quarter 2023 financial results. Investors can dial in at 1-877-300-8521 for U.S. calls or 1-412-317-6026 for international calls, using Conference ID 10177426. A rebroadcast will be available for those unable to join live, from 11:00 a.m. CDT on May 3 to 11:00 p.m. CDT on June 3, 2023. Bio-Techne is a leader in developing purified proteins and reagent solutions, generating approximately $1.1 billion in net sales for fiscal 2022 and employing around 3,000 employees globally.
Bio-Techne Corporation (NASDAQ: TECH) has completed its $257 million investment in Wilson Wolf Manufacturing, acquiring a 20% ownership stake. This investment was initiated after Wilson Wolf met its EBITDA target of $55 million. Bio-Techne has the option to acquire the remaining stake for $1 billion upon Wilson Wolf achieving $226 million in revenue or $136 million in EBITDA by December 31, 2027. If the milestones are not met, Bio-Techne can acquire Wilson Wolf for approximately 4.4 times its trailing revenue. Wilson Wolf is recognized for its innovative cell production technology used in cell and gene therapy.
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