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) has launched the innovative Turbo CE-SDS cartridge, enhancing the capabilities of its Maurice capillary electrophoresis instrument. This product reduces protein purity analysis time to 5.5 minutes, responding to the biopharmaceutical industry's demand for speed and efficiency in drug development. The Turbo CE-SDS cartridge increases throughput by approximately 400%, facilitating faster and more effective sample analysis throughout the bioprocess development stages. Existing users will find integration seamless, supporting quality control and overall workflow efficiency.
Bio-Techne (NASDAQ: TECH) has announced the European launch of the CE-IVD marked RNAscope ISH Probe High Risk HPV. This tool is designed for the accurate detection of HPV mRNA in patients with oropharyngeal squamous cell carcinoma (OPSCC). Compared to traditional methods like immunohistochemistry (IHC) for p16 protein, which can misdiagnose by 5-20%, the RNAscope ISH offers superior accuracy for identifying high-risk HPV types. This advancement allows clinicians to improve patient management and diagnosis.
Bio-Techne Corporation (NASDAQ:TECH) has completed its acquisition of Namocell, Inc. This acquisition enhances Bio-Techne's capabilities by integrating Namocell's single cell sorting and dispensing technologies, which are vital for biotherapeutics and diagnostics workflows. Key applications include cell and gene therapy development, single cell genomics, and antibody discovery. The deal positions Bio-Techne to leverage these innovative technologies for growth in the biotechnology sector.
Bio-Techne Corporation (NASDAQ:TECH) has announced its intention to acquire Namocell, Inc., a leader in single cell sorting technology, expected to close in Q1 of fiscal 2023. The acquisition aims to enhance Bio-Techne's Cell and Gene Therapy franchise, with Namocell's innovative technology offering significant advantages over traditional methods like flow cytometry. Namocell's products facilitate quick and gentle sorting of single cells, critical for various applications in biotherapeutics and diagnostics. This strategic move is anticipated to generate commercial synergies for Bio-Techne.
Bio-Techne Corporation (NASDAQ: TECH) announced the publication of a global study in the Journal of Electrophoresis, assessing the comparability of its iCE3 and Maurice analytical platforms for charge heterogeneity analysis of therapeutic proteins. The study involved 19 sites across the US, Europe, and China, demonstrating excellent comparability with less than 1.02% standard deviation for charge variants and high precision for isoelectric point values. This advancement supports biopharmaceutical companies in transitioning to the Maurice system, enhancing its market presence and credibility in GMP quality control.
Bio-Techne Corporation (NASDAQ: TECH) announced that CEO Chuck Kummeth will present at the Jefferies 2022 Healthcare Conference on June 8, 2022, at 9:30 a.m. EDT. Investors can access the live webcast through Bio-Techne's Investor Relations website. The company is a leader in developing high-quality purified proteins, reagents, and diagnostic products, generating approximately $931 million in net sales in fiscal 2021. With a workforce of around 2,700, Bio-Techne plays a vital role in scientific research and clinical diagnostics.
Bio-Techne Corporation (NASDAQ: TECH) has entered a partnership with Nonagen Bioscience to exclusively manufacture the Oncuria bladder cancer diagnostic panel. Oncuria utilizes xMAP Luminex technology to provide early detection, therapy selection, and monitoring of bladder cancer. The test received FDA Breakthrough Device Designation in September 2021, which facilitates expedited review and collaboration with the FDA. The Oncuria test is expected to be available by Q4 2022, promising improved patient outcomes through enhanced cancer detection capabilities.
Bio-Techne Corporation (NASDAQ: TECH) announced a significant scientific presence at the American Urological Association Conference from May 13-16, 2022, in New Orleans, LA. Exosome Diagnostics will present two posters and conduct six in-booth scientific presentations, including a live symposium with Cal Ripken, Jr. and Dr. Ronald Tutrone. Key presentations include biomarker studies on prostate cancer and kidney transplant rejection. The ExoDx Prostate test plays a crucial role in early detection, supported by Medicare. One in nine American men will face prostate cancer in their lifetime, highlighting the need for awareness.
Bio-Techne Corporation (NASDAQ: TECH) announced a quarterly dividend of $0.32 per share for the quarter ending March 31, 2022. This dividend will be payable on May 27, 2022 to shareholders of record as of May 16, 2022. The company reported approximately $931 million in net sales for fiscal 2021 and continues to provide innovative tools for the life sciences industry. Future dividends will be evaluated quarterly by the Board of Directors.
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