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.
ScaleReady, a joint venture involving Bio-Techne (NASDAQ: TECH), announces the launch of the Cue Cell Processing System, designed exclusively for cell and gene therapy organizations. This innovative system automates complex, labor-intensive tasks, enhancing precision in cell processing workflows. Cue is customizable, ensuring that final formulations meet specifications consistently. Available in the U.S., Canada, and Europe, it also supports requests for regulatory documentation for advanced applications. This launch positions ScaleReady as a leader in the evolving market of cell and gene therapies.
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 Corporation (NASDAQ: TECH) presented new data regarding the Maurice Flex™ instrument at the 2022 CE Pharm conference, showcasing its advanced icIEF fractionation capabilities. This instrument addresses challenges in traditional ion-exchange chromatography (IEX) by offering rapid and high-purity fraction collection (80-100%) for intact mass spectrometry analysis. The instrument will allow scientists to choose their methods for downstream charge isoform characterization, streamlining protein analysis. The Maurice Flex™ is set to be launched for purchase in early 2023.
Bio-Techne Corporation (NASDAQ: TECH) announced that Exosome Diagnostics will present initial data on a non-invasive saliva profiling assay for Sjögren's Syndrome at the 15th International Symposium on Sjögren's Syndrome in Rome, Italy, on September 9, 2022. This novel assay utilizes extracellular vesicles to monitor RNA from saliva samples, offering a potential breakthrough in diagnosing and understanding this autoimmune disease. The study demonstrated high accuracy, with AUC values over 0.9. The development of this liquid biopsy tool aims to enhance precision medicine and improve patient care.
Bio-Techne Corporation (NASDAQ: TECH) announced that CEO Chuck Kummeth will present at the Baird 2022 Global Healthcare Conference on September 14, 2022, at 12:50 p.m. EST. The live webcast will be available on their Investor Relations website. Bio-Techne specializes in high-quality purified proteins, reagents, and genomic tools, generating approximately $1.1 billion in net sales in fiscal 2022. Their extensive product portfolio supports researchers and clinical labs in drug discovery and molecular diagnostics.
Bio-Techne Corporation (NASDAQ: TECH) announced plans to seek shareholder approval for a four-for-one forward stock split during its 2022 Annual Meeting scheduled for October 27, 2022. This initiative aims to increase the total number of authorized shares through an amendment to the Company's Articles of Incorporation, with the stock dividend expected in the second quarter of fiscal 2023. Shareholders will find more information in the preliminary proxy filed with the SEC on September 1, 2022, and additional details are forthcoming in a definitive proxy statement.
Bio-Techne Corporation (NASDAQ: TECH) announced that Jim Hippel, CFO, will present at the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 1:30 p.m. EST. Interested parties can access the live webcast through the Investor Relations website. Bio-Techne specializes in high-quality purified proteins, diagnostics, and genomic tools, generating approximately $1.1 billion in net sales in fiscal 2022. The company employs about 3,000 individuals worldwide, focusing on advancing research and clinical diagnostics.
Bio-Techne Corporation (NASDAQ: TECH) will have its CFO, Jim Hippel, present at the 2022 Wells Fargo Healthcare Conference on September 7, 2022, at 9:10 a.m. EST. The presentation will be available via live webcast on the company’s Investor Relations website. Bio-Techne is known for developing high-quality purified proteins and reagents, contributing to advancements in biomedical research and clinical diagnostics. The company generated approximately $1.1 billion in net sales in fiscal 2022 and employs around 3,000 people globally.
Bio-Techne Corporation (NASDAQ: TECH) has published a study in Green Analytical Chemistry showcasing an innovative icIEF method for assessing Adeno-Associated Virus (AAV) capsid proteins. Led by Dr. Jiaqi Wu and Dr. Chris Heger, the method, validated against ICH Q6B guidelines, demonstrated excellent precision, linearity (R2 = 0.998), and a low limit of quantitation of 2.6 x 1010 VP/mL. The method scored high in environmental sustainability, making it suitable for the biopharma industry, enhancing both data reliability and ecological responsibility.
FAQ
What is the current stock price of Bio-Techne (TECH)?
What is the market cap of Bio-Techne (TECH)?
What does Bio-Techne Corporation do?
What are Bio-Techne's main business segments?
Where is Bio-Techne headquartered?
Which markets does Bio-Techne serve?
What recent legal actions has Bio-Techne taken?
What is the Bio-Marker Pathfinder (BMP) kit?
What was Bio-Techne's financial performance in Q3 FY2024?
What is the MauriceFlex™ System?
How many employees does Bio-Techne have?
What was Bio-Techne's revenue in fiscal 2023?
