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) appointed Brenda Everson as Senior Vice President of Human Resources, effective January 10, 2022. She succeeds Struan Robertson, who is set to retire on February 11, 2022. Everson brings over 20 years of experience, most recently as VP of HR at Midco and previously at Apple, where she held senior roles for 18 years. President Chuck Kummeth praised Robertson's contributions to the company's culture and expressed enthusiasm for Everson's leadership skills as the company continues to grow.
Bio-Techne Corporation (NASDAQ: TECH) has appointed William A. Geist as President of the Protein Sciences Segment, effective January 3, 2022. He replaces N. David Eansor, who is retiring but will assist with the transition until February 2022. Mr. Geist brings over two decades of experience, previously serving as COO at Quanterix and VP at Thermo Fisher Scientific. His expertise in managing life science tool businesses generating over $1 billion in annual revenue positions him well to drive growth in the Protein Sciences Segment.
Bio-Techne Corporation (NASDAQ: TECH) has announced an option agreement with Wilson Wolf Corporation, allowing for a potential 20% ownership stake after Wilson Wolf achieves $100 million in revenue or $50 million in EBITDA. Additionally, Bio-Techne can fully acquire Wilson Wolf upon reaching approximately $225 million in revenue or $135 million in EBITDA. Wilson Wolf specializes in cell culture technologies, particularly the G-Rex® product line, crucial for cell therapy. This partnership aims to enhance cell and gene therapy manufacturing efficiency.
Bio-Techne Corporation (NASDAQ: TECH) announced a significant breakthrough with the publication of a manuscript in Scientific Reports demonstrating their lateral flow technology for COVID-19 diagnostics. The proof-of-concept study shows an affordable test using a minimally invasive swab that yields results in 15 minutes, featuring 87.5% sensitivity and 100% specificity. The company aims to collaborate with diagnostic firms to further develop rapid diagnostic tests leveraging their extensive resources.
Bio-Techne Corporation (NASDAQ: TECH) announced presentations at two investor conferences. Chuck Kummeth, CEO, will speak at the Stephens Annual Investment Conference on December 2, 2021 at 4:00 p.m. CDT. Jim Hippel, CFO, will present at the Evercore ISI HealthCONx Conference on December 1, 2021 at 4:20 p.m. EDT. Both events will have live webcasts accessible through Bio-Techne's Investor Relations website. The company generated approximately $931 million in net sales in fiscal 2021, highlighting its significant role in biomedical research and diagnostics.
ScaleReady has launched the G-Rex®500M-CS, a second-generation product that enhances cell and gene therapy manufacturing. This new device offers a shelf-life extension to three years, improved ergonomics, and various operating options. ScaleReady, a joint venture of Fresenius Kabi and Bio-Techne (NASDAQ: TECH), aims to simplify and automate manufacturing processes, driven by strong growth in the cell therapy market. Josh Ludwig noted the importance of reliable systems in producing high-quality cells, essential for effective therapies.
Bio-Techne Corporation (NASDAQ: TECH) will present at the Stifel 2021 Virtual Healthcare Conference on November 16, 2021, at 10:00 a.m. EDT. Jim Hippel, the Executive Vice President and CFO, will lead the presentation. A live webcast will be available on Bio-Techne's Investor Relations website.
Bio-Techne specializes in developing high-quality proteins and diagnostic products, generating approximately $931 million in net sales in fiscal 2021. The company employs around 2,700 people globally.
Bio-Techne Corporation (NASDAQ:TECH) announced the launch of the AmplideX® PCR/CE CFTR Kit, designed to detect pathogenic variants in the CFTR gene, which is associated with cystic fibrosis. This new kit offers broader variant coverage for diverse populations, detecting approximately 93% of known pathogenic variants in the U.S. The assay delivers results in under five hours and includes push-button data analysis software. The launch underscores Bio-Techne's commitment to enhancing diagnostic accuracy across all ancestries.
Bio-Techne Corporation (NASDAQ: TECH) announced that its Executive Vice President and CFO, Jim Hippel, will present at the Credit Suisse 30th Annual Healthcare Conference on November 9, 2021, at 11:20 a.m. EST. The presentation will be available via a live webcast on Bio-Techne's Investor Relations website. The company specializes in high-quality purified proteins, reagents, and diagnostic products, generating approximately $931 million in net sales in fiscal 2021. Bio-Techne employs around 2,700 staff globally, focusing on advancing biological research and molecular diagnostics.
Bio-Techne Corporation (NASDAQ: TECH) announced the commercial launch of GMP-grade proteins from its new St. Paul, MN facility, focusing on large-scale production for cell and gene therapy workflows. This investment of $50 million enhances its capacity to meet the increasing demand driven by over 1300 ongoing clinical trials in cell therapy, marking a 43% increase from the previous year. The facility's state-of-the-art technology and scalability aim to ensure lot-to-lot consistency and patient safety in GMP manufacturing.
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