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) reports that CDC scientists emphasized the significance of fixed tissue analysis for diagnosing SARS-CoV-2 infections in fatal cases lacking prior testing. Published findings in the Journal of Infectious Disease revealed that RNAscope technology enabled visualization of SARS-CoV-2 RNA in autopsy tissues, identifying cellular targets of the virus across various organs. The company is launching a SARS-CoV-2 probe specific for Spike protein mRNA as an Analyte Specific Reagent, enhancing researchers' capacity to detect the virus in fixed tissues.
Bio-Techne Corporation (NASDAQ: TECH) announced its 2021 Investor Day scheduled for September 10, 2021, at the Lotte New York Palace Hotel. The event will feature presentations from senior leadership and a Q&A session. Institutional investors and analysts can access a live webcast of the meeting through Bio-Techne's Investor Relations website. The company, known for developing high-quality purified proteins and reagent solutions, generated approximately $739 million in net sales in fiscal 2020 and employs around 2,600 people worldwide.
Bio-Techne Corporation (NASDAQ: TECH) and PROGEN unveiled the Simple Plex™ AAV2 viral titer assay designed for AAV2 total capsid quantification. This new assay, available on the Ella™ platform, combines the efficiency of PROGEN's established ELISAs with the automation of Ella, enhancing cell and gene therapy development. It enables high-throughput, consistent quantification during viral purification with high sensitivity. With a robust portfolio in life sciences, Bio-Techne generated around $739 million in net sales in fiscal 2020 and employs approximately 2,600 globally.
Bio-Techne (NASDAQ: TECH) has launched the RNAscope HiPlex V2 assay, enhancing its Advanced Cell Diagnostics portfolio. This new assay permits detection of up to 12 gene targets in formalin-fixed paraffin-embedded (FFPE) samples and up to 48 in fresh and frozen samples. The HiPlex V2 provides reliable gene expression data without complex bioinformatics. It enables detailed analysis of gene expression and cellular organization in various tissue types, supporting translational research and biomarker discovery. This innovation positions Bio-Techne competitively in the growing spatial genomics market.
Bio-Techne Corporation (NASDAQ: TECH) will host a conference call and webcast on August 5, 2021, at 8:00 a.m. CDT to discuss its fourth quarter 2021 financial results. Interested parties can join via dial-in at 1-800-289-0438 or through a webcast at public.viavid.com. A recorded rebroadcast will be available until September 5, 2021. Bio-Techne is a leading developer of purified proteins, reagent solutions, and diagnostic products, with $739 million in net sales for fiscal 2020.
Bio-Techne Corporation (NASDAQ:TECH) has opened a new facility in Dublin, Ireland, aimed at enhancing its service to the European life sciences market. The 25,000 square foot facility will act as the primary distribution hub for the company's life science tools and diagnostic reagents. This expansion underscores Bio-Techne's commitment to growth and resilience in the EMEA supply chain. The site is designed to achieve LEED Silver accreditation, reflecting a focus on environmental sustainability. CEO Chuck Kummeth expressed optimism about the continued success in the European research community.
Bio-Techne Corporation (NASDAQ: TECH) announced an expanded collaboration with Catamaran Bio to enhance cell engineering and manufacturing technologies for CAR-NK cell therapies. The new agreement includes a worldwide license for the TcBuster™ transposon system, which allows for efficient gene editing, integrated into Catamaran's TAILWIND™ Platform. This partnership aims to advance scalable, robust manufacturing processes for allogeneic CAR-NK therapies, targeting cancer treatments, especially solid tumors. Bio-Techne generated approximately $739 million in net sales in fiscal 2020.
Bio-Techne Corporation (NASDAQ: TECH) has partnered with Autolomous to implement the AutoloMATETM electronic batch record system at its GMP cellular manufacturing center. This initiative aims to enhance process control in cell-based therapies, ensuring higher quality standards for patient products. Bio-Techne will provide therapeutic companies with state-of-the-art electronic records and integrate further technologies within their platforms. This marks Autolomous's first deployment in the USA, showcasing the flexibility of their solutions for various cell and gene therapy workflows.
Bio-Techne Corporation (NASDAQ: TECH) announced its membership in the Cell and Gene Therapy Catapult process analytical technology (PAT) consortium. This initiative, comprising over 20 pharmaceutical and technology organizations, aims to enhance process analytics in the cell and gene therapy sector. The collaboration focuses on developing specific analytical technologies to improve manufacturing processes, which could lead to better batch yields and lower costs. CEO Chuck Kummeth expressed optimism about sharing knowledge to advance the industry and enhance patient outcomes through innovative therapies.
Kantaro Biosciences, a joint venture involving RenalytixAI (RNLX) and the Mount Sinai Health System, has received Health Canada Authorization for its COVID-SeroKlir semi-quantitative antibody test kit. This kit can detect the presence and precise level of neutralizing IgG antibodies with 98.8% sensitivity and 99.6% specificity. Importantly, it is available for immediate use in Canadian laboratories without proprietary equipment. The test has already been deployed over 127,000 times on diverse populations, offering significant potential for guiding public health policies as Canada reopens.
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