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 launched a new ESR1 mutation monitoring assay through its brand Asuragen. The research-use-only assay includes a qPCR detection kit and an isolation kit for cell-free DNA and exosomal RNA. The technology is designed to detect 11 ESR1 ligand-binding domain mutations with high sensitivity, particularly relevant for hormone receptor-positive (HR+) metastatic breast cancer patients.
The assay combines QuantideX® qPCR ESR1 exoMutation Kit with ExoLution™ Plus cfDNA + exoRNA Isolation Kit, offering enhanced sensitivity through detection of both cell-free DNA and exosomal RNA signals. This advancement is significant as ESR1 mutations appear in up to 40% of HR+ metastatic breast cancer patients following endocrine therapy, indicating treatment resistance.
Bio-Techne (NASDAQ: TECH) has announced its participation in the Citi 2024 Global Healthcare Conference. Kim Kelderman, President and Chief Executive Officer, will deliver a presentation on Wednesday, December 4, 2024, at 3:15 p.m. EST. Interested parties can access a live webcast of the presentation through the IR Calendar page on Bio-Techne's Investor Relations website.
GeminiBio has acquired selected fetal bovine serum (FBS) product rights and inventory from Bio-Techne (NASDAQ: TECH). The acquisition includes manufacturing and global sales rights for Bio-Techne's R&D Systems FBS product brands: Optima, Premium Select, and Premium. Following Bio-Techne's decision to discontinue their FBS products, GeminiBio will ensure continuous product availability starting December 3, 2024. GeminiBio operates two cGMP manufacturing facilities in West Sacramento, CA, dedicated to animal origin and animal origin-free product manufacturing, serving various life science and biotech customers.
Bio-Techne (NASDAQ: TECH) has announced a new distribution partnership with Leader Life Sciences to expand its presence in the Gulf Cooperation Council (GCC) countries. The agreement covers distribution in Bahrain, Oman, Qatar, Saudi Arabia, and United Arab Emirates. Leader Life Sciences will distribute Bio-Techne's comprehensive portfolio, including antibodies, proteins, immunoassay kits, enzymes, and spatial biology tools to biopharma companies, laboratories, hospitals, and universities in the GCC region. Bio-Techne generated approximately $1.2 billion in net sales in fiscal 2024 and employs over 3,100 people worldwide.
Bio-Techne (NASDAQ: TECH) has announced a strategic partnership with ALZpath to advance neurodegenerative disease research, particularly Alzheimer's. The collaboration combines Bio-Techne's Ella™ automated immunoassay platform with ALZpath's proprietary pTau217 antibody to create the Simple Plex Human Phospho-Tau (T217) ALZpath Assay.
The new assay enables detection of pTau217, a biomarker associated with Alzheimer's disease, in plasma samples within 90 minutes without manual intervention. This integration aims to increase efficiency, scalability, and precision in neurodegenerative disease research while accelerating clinical decisions.
Bio-Techne (NASDAQ: TECH) announced its participation in the Association for Molecular Pathology (AMP) 2024 Annual Meeting & Expo from November 19-23 in Vancouver. Through its brand Asuragen, the company will showcase new research products for breast cancer monitoring and carrier screening at booth #811. The event features workshops on the QuantideX® qPCR ESR1 exoMutation Kit and AmplideX® Nanopore Carrier Plus Kit, along with discussions on LDT compliance. Multiple research posters will be presented covering topics including ESR1 mutations detection, complex variant genotyping, and molecular testing advances.
Bio-Techne (NASDAQ: TECH) has achieved Class B In Vitro Diagnostic Regulation (IVDR) certification for its R&D Systems Hematology Controls and Calibrators, updating from the prior Class C classification. This certification validates compliance with European Union regulations for in-vitro diagnostic devices, confirming the products' quality standards, accuracy, precision, and reliability. The certification represents a significant milestone for Bio-Techne in supporting healthcare professionals with high-quality laboratory testing components.
Bio-Techne (NASDAQ: TECH) has achieved IVDR certification for its R&D Systems Hematology Controls and Calibrators, confirming compliance with European Union regulations for in-vitro diagnostic devices. This certification underscores the products' high quality, accuracy, precision, and reliability. It represents a significant milestone in Bio-Techne's dedication to supporting healthcare professionals with top-tier laboratory components. The certified Hematology Controls and Calibrators are vital for ensuring accurate patient testing in laboratories, meeting stringent hematology standards.
Bio-Techne (NASDAQ: TECH) has announced its participation in three upcoming investor conferences in November 2024. The company will present at the UBS Global Healthcare Conference on November 12 at 9:30 AM PST, the Stifel 2024 Healthcare Conference on November 19 at 8:00 AM EST, and the Stephens NASH 2024 Conference on November 20 at 11:00 AM CST. Interested parties can access live webcasts of all presentations through Bio-Techne's Investor Relations website's IR Calendar page.
ScaleReady has awarded G-Rex Grants totaling $475,000 to three leading investigators at Baylor College of Medicine's Center for Cell and Gene Therapy (CAGT).
Dr. Ann Leen received $275,000 for research on T cell therapies for AML and MDS. Dr. Katie McKenna received $100,000 to develop 3D tumor spheroid models. Dr. Dimitrios Laurin Wagner and Dr. Marie Pouzolles received $100,000 for non-viral gene editing platforms to create immune cell therapies.
The G-Rex Grant Program is a $20M initiative aimed at advancing cell and gene therapy development and manufacturing.
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