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) launched its ProteinSimple-branded MauriceFlex™ system during the WCBP conference on Jan. 26, 2023, in Washington D.C. This innovative system enables protein charge variant fractionation along with routine cIEF and CE-SDS assays, streamlining protein characterization workflows. MauriceFlex™ distinguishes itself by allowing cIEF-based fractionation without the extensive method development and preparation typically required. A major biotech company showcased the system's capabilities in analyzing charge variant fractions of a therapeutic dual variable domain antibody. According to Will Geist, President of Protein Sciences, MauriceFlex™ accelerates therapeutic molecule analysis, enhancing market readiness.
Bio-Techne Corporation (NASDAQ: TECH) announced a conference call and webcast to discuss its second quarter 2023 financial results on February 2, 2023, at 8:00 a.m. CST. Investors can join the call by dialing 1-877-407-9208 or through the webcast link provided. A recorded replay will be available from 11:00 a.m. CST on February 2 until 11:00 p.m. CST on March 2. The company, noted for high-quality protein and reagent solutions, generated approximately $1.1 billion in net sales in fiscal 2022 and employs around 3,000 people globally.
Bio-Techne Corporation (NASDAQ: TECH) has introduced the RNAscope Plus smRNA-RNA detection assay, expanding its Advanced Cell Diagnostics (ACD) portfolio. This assay allows simultaneous fluorescent detection of small regulatory RNAs and target RNAs within tissue samples at single-cell resolution. Designed for scalability, it supports extensive studies on the Leica Bond Rx platform. The assay enhances the research of oligonucleotide therapies, crucial for developing targeted treatments for various diseases. Bio-Techne reported approximately $1.1 billion in net sales for fiscal 2022.
Bio-Techne Corporation (NASDAQ: TECH) announced that CEO Chuck Kummeth will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 8:15 a.m. PST. The presentation will be accessible via a live webcast on Bio-Techne's Investor Relations website. Bio-Techne specializes in manufacturing purified proteins, reagents, and diagnostic products, generating approximately $1.1 billion in net sales in fiscal 2022. The company employs around 3,000 people globally and offers a wide range of scientific products for molecular diagnostics and biological research.
Bio-Techne Corporation (NASDAQ: TECH) announced the launch of MitoBrilliant™ probes on Dec. 5, 2022. These innovative fluorescent probes are designed for effective imaging and tracking of mitochondria in live and fixed cells. The MitoBrilliant™ Live probes allow dynamic monitoring of mitochondrial membrane potential, while MitoBrilliant™ 646 offers high performance for post-fixation imaging. Developed using Janelia Fluor™ technology, these probes enhance modern imaging capabilities crucial for scientific research. Bio-Techne reported $1.1 billion in net sales in fiscal 2022.
Bio-Techne (NASDAQ: TECH) has announced a collaboration with Oxford Nanopore Technologies to develop innovative assays for reproductive health and carrier screening. This partnership aims to combine Asuragen's PCR technology with Oxford Nanopore's DNA sequencing capabilities to create a streamlined workflow for identifying challenging genes. The new integrated system is expected to analyze 11 critical genes associated with severe genetic disorders, covering approximately 70% of pathogenic variants. The collaboration addresses the growing need for efficient carrier screening solutions.
Bio-Techne Corporation (NASDAQ: TECH) has announced that CEO Chuck Kummeth will present at the Fifth Annual Evercore ISI HealthCONx Conference on November 29, 2022, at 8:50 a.m. EST. The presentation will be available via a live webcast on Bio-Techne's Investor Relations website. The company is a prominent developer of purified proteins, reagents, and diagnostic products, generating approximately $1.1 billion in net sales in fiscal 2022. Bio-Techne serves biomedical researchers and clinical laboratories with a wide range of innovative solutions, employing around 3,000 staff globally.
Bio-Techne Corporation (NASDAQ: TECH) announced a new study published in Nature Protocols demonstrating its Namocell™ Single Cell Dispenser's effectiveness for cloning human pluripotent stem cells (hPSCs). The workflow enhances cell viability and genomic stability, addressing challenges in single cell cloning critical for gene therapy applications. The Namocell system offers a gentle dispensing process, minimizing cell stress and maximizing recovery rates. This innovation positions Bio-Techne to advance hPSC research and applications in regenerative medicine.
Bio-Techne Corporation (NASDAQ: TECH) has opened a new 52,000 sq. ft. product innovation and manufacturing facility in Wallingford, Connecticut, doubling its operational footprint. This facility enhances Ella™ immunoassay cartridge production capacity five-fold, enabling production of up to 500,000 cartridges annually. The expansion, featuring one of the largest cleanrooms in the area, aims to meet the rising global demand for rapid and precise biomarker detection. The Ella assays, developed by R&D Systems, support diverse research areas and are expected to experience continued demand growth.
Bio-Techne Corporation (NASDAQ: TECH) will be presenting at the Stephens Annual Investment Conference on November 17, 2022, at 10:00 a.m. CST. The presentation will be conducted by Jim Hippel, Executive Vice President and Chief Financial Officer. Investors can access a live webcast through the company's Investor Relations website. Bio-Techne is a leader in developing purified proteins and reagent solutions, generating approximately $1.1 billion in net sales in fiscal 2022 and employing about 3,000 people globally.
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