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 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.
Bio-Techne Corporation (NASDAQ: TECH) announced its completion of participation in the Cell and Gene Therapy Catapult Process Analytical Technology (Catapult PAT) consortium, a multi-year initiative involving 24 partners. The initiative, which began in January 2021, focused on developing cell and gene therapy-specific analytical technologies. Data was collected during experiments on T-cell expansion bioprocesses, resulting in a first-of-its-kind dataset. The Ella™ platform from Bio-Techne played a key role in the research, which is set to enhance facilities in the UK. Bio-Techne generated approximately $1.1 billion in net sales in fiscal 2022.
Bio-Techne Corporation (NASDAQ: TECH) announced that Jim Hippel, Executive Vice President and CFO, will present at the Barclays Global Healthcare Conference on March 14, 2023, at 2:35 p.m. EDT. A live webcast can be accessed on Bio-Techne's Investor Relations website.
Bio-Techne is a leader in developing high-quality purified proteins and reagents, generating approximately $1.1 billion in net sales in fiscal 2022. The company's extensive portfolio supports biomedical research and diagnostics, enhancing drug discovery and clinical testing.
Bio-Techne Corporation (NASDAQ: TECH) announced an investment of $257 million in Wilson Wolf Manufacturing, resulting in a 20% ownership stake. This follows Wilson Wolf achieving a trailing 12-month EBITDA of $55 million. Bio-Techne can acquire the remaining ownership for $1 billion if Wilson Wolf hits a revenue milestone of $226 million or $136 million in EBITDA by December 31, 2027. Wilson Wolf specializes in innovative cell production technology crucial for Cell and Gene Therapy. The investment is poised to enhance Bio-Techne's capacity in CGT manufacturing and streamline processes in the sector.
Bio-Techne Corporation (NASDAQ: TECH) announced that CEO Chuck Kummeth will present at the Cowen 43rd Annual Health Care Conference on March 6, 2023, at 2:10 p.m. EST. Investors can access a live webcast of the presentation through the company's Investor Relations website.
Bio-Techne is a prominent developer of purified proteins and reagent solutions, including cytokines, antibodies, and diagnostic products. The company generated approximately $1.1 billion in net sales for fiscal 2022 and employs around 3,000 people globally.
Bio-Techne Corporation (NASDAQ: TECH) announced that the Medicare contractor, National Government Services, has finalized local coverage determination for the ExoDx Prostate Test. Effective March 1, 2023, this policy covers annual testing for men with a negative biopsy but considered at high risk for prostate cancer. The ExoDx Test helps identify patients who truly need invasive biopsies based on their PSA levels.
This updated coverage reflects the latest recommendations from the National Comprehensive Cancer Network, enhancing patient access to noninvasive testing before proceeding with biopsies, thus addressing rising prostate cancer incidences.
Bio-Techne Corporation (NASDAQ: TECH) announced that Jim Hippel, Executive Vice President and Chief Financial Officer, will present at the Citi 2023 Healthcare Services, Medtech, Tools & HCIT Conference on March 1, 2023, at 2:00 p.m. EST. Investors can access a live webcast of the presentation on the Investor Relations website. With approximately $1.1 billion in net sales in fiscal 2022, Bio-Techne specializes in high-quality purified proteins, reagent solutions, and diagnostic products, providing tools for research and clinical diagnostics globally.
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