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.
Overview
Bio-Techne Corporation (NASDAQ: TECH) is a globally recognized life sciences company offering innovative bioactive reagents, consumables, and instruments. Its extensive portfolio supports a broad spectrum of applications in clinical diagnostics, drug discovery, and biological research. Using advanced immunoassays, spatial biology tools, and protein analysis reagents, Bio-Techne equips scientists with the essential resources to investigate complex biological processes and disease mechanisms.
Core Business Areas
Bio-Techne organizes its operations into two primary segments:
- Protein Sciences: This segment supplies specialized reagents such as antibodies, cytokines, and growth factors, along with analytical instruments, that serve as critical tools for protein analysis and cell biology. These products are employed in both basic and advanced research settings, reflecting a strong commitment to scientific precision and reproducibility.
- Diagnostics and Spatial Biology: Focused on clinical diagnostic solutions, this segment offers molecular tests, diagnostic reagents, and spatial biology products. These tools facilitate reliable clinical assays, supporting translational research and precision medicine through enhanced imaging and biomarker analysis.
Global Reach and Market Position
Based in Minnesota, Bio-Techne has established a significant market presence globally. Its products are widely used in North America, Europe, the Middle East, Africa, the UK, and Asia-Pacific. This international footprint, combined with a deep and diverse product catalog, positions the company as a key contributor to high-quality scientific research and diagnostic testing worldwide.
Innovation and Strategic Collaborations
Innovation is at the core of Bio-Techne’s operations. The company invests heavily in research and development to integrate emerging technologies, such as AI-assisted protein design and automated spatial biology platforms, into its product lines. Strategic collaborations with academic institutions, industry partners, and regional distributors further enhance its capabilities and propel breakthrough innovations. These partnerships not only accelerate product development but also ensure that the tools provided are seamlessly integrated into existing research and clinical workflows.
Product Portfolio and Revenue Streams
Bio-Techne offers an extensive inventory of bioactive reagents and research tools. Its products cater to a wide array of scientific needs ranging from basic research to clinical diagnostics. By providing both Research Use Only (RUO) and Good Manufacturing Practice (GMP) grade products, the company meets the rigorous demands of biotechnology, pharmaceutical, and academic sectors. Its revenue is generated through direct sales, licensing agreements, and strategic distribution deals, all of which underscore the company’s role as a pivotal enabler of scientific exploration.
Competitive Landscape
In a crowded marketplace, Bio-Techne stands out by leveraging its robust product portfolio, cutting-edge technological integration, and a proven track record of intellectual property innovation. While competitors offer similar life sciences tools, Bio-Techne differentiates itself with high-quality, reliable products and ongoing legal protections that reinforce its investment in research and development.
Customer Focus and Operational Excellence
The company prioritizes customer success by delivering reproducible and high-performance research tools that enhance scientific discovery. It regularly engages with the scientific community through educational workshops, technical discussions, and industry events, ensuring its customers remain at the forefront of innovation. This commitment to operational excellence has solidified Bio-Techne’s reputation as a trusted partner in both research and clinical diagnostic communities.
Conclusion
Overall, Bio-Techne Corporation is a cornerstone in the life sciences industry. Through its dual focus on Protein Sciences and Diagnostics & Spatial Biology, the company provides essential tools and innovative solutions that empower researchers and clinicians alike. Its global reach, strategic collaborations, and continuous push for technological advancement highlight its pivotal role in advancing biomedical research and clinical diagnostics.
Bio-Techne Corporation (NASDAQ: TECH) announced preliminary data on its kidney transplant rejection test, ExoTRU™, developed with the Azzi laboratory at Harvard Medical School. This innovative, non-invasive urine-based multigene assay can distinguish between types of kidney rejection, aiding clinical decision-making and patient care. Scheduled for launch in 2021, ExoTRU demonstrates a negative predictive value (NPV) of 93.3% and a positive predictive value (PPV) of 86.2%. The test's introduction is expected to enhance monitoring and management for kidney transplant patients who face challenges with conventional methods.
Bio-Techne Corporation (NASDAQ: TECH) has agreed to acquire Asuragen, Inc. for an initial $215 million in cash, plus contingent payments of up to $105 million based on future milestones. The deal, financed through cash reserves and a credit line, is expected to close in Q4 of fiscal 2021. Asuragen, a leader in molecular diagnostics, reported over $30 million in revenue in 2020. The acquisition aims to enhance Bio-Techne's diagnostic portfolio and leverage Asuragen's expertise in molecular products, potentially driving significant growth and market expansion.
Bio-Techne Corporation (NASDAQ: TECH) announced that its CEO, Chuck Kummeth, will present at the Barclays Global Healthcare Conference on March 11, 2021, at 9:10 a.m. EST. A live webcast will be available on the company’s Investor Relations website. The company specializes in high-quality purified proteins, reagent solutions, and diagnostic products, generating $739 million in net sales in fiscal 2020. With over 2,300 employees, Bio-Techne plays a crucial role in biomedical research and clinical diagnostics.
Bio-Techne Corporation (NASDAQ: TECH) announced a new reimbursement contract with Humana, effective April 1, 2021, for the ExoDx™ Prostate (EPI) test, a genomic tool aiding in prostate biopsy decisions. Humana, the largest Medicare Advantage provider, serves about 20 million patients. The EPI test, performed by Exosome Diagnostics, is covered by Medicare and various commercial plans. This development expands access to the test, which helps reduce unnecessary invasive procedures. Bio-Techne's CEO expressed optimism about the growing acceptance of advanced diagnostics in the healthcare sector.
Bio-Techne Corporation (NASDAQ: TECH) announced a licensing agreement with Luminary Therapeutics for TcBuster™, its non-viral gene delivery system. This agreement allows Luminary to utilize TcBuster in their LMY-920 program, which involves advanced CAR-T therapies. The license aims to enhance the manufacturing of gene-modified cell therapies, offering benefits over viral methods. Luminary plans to file an Investigational New Drug (IND) application with the FDA later this year, marking a significant step in their therapeutic development process.
Bio-Techne Corporation (NASDAQ: TECH) announced that CEO Chuck Kummeth will present at Citi's 2021 Healthcare Services, Medtech, Tools & HCIT Virtual Conference on February 25, 2021, at 9:50 a.m. EST. The live webcast will be available on the company's Investor Relations website. Bio-Techne specializes in high-quality purified proteins, reagents, and diagnostic products, generating approximately $739 million in net sales in fiscal 2020. The firm operates with over 2,300 employees globally, focusing on advancing scientific research and molecular diagnostics.
Bio-Techne Corporation (NASDAQ:TECH) announced the publication of a significant paper by Exosome Diagnostics titled Exosome-based Liquid Biopsies in Cancer: Opportunities and Challenges in the Annals of Oncology. This review highlights the advancements in exosome-based liquid biopsies, which show promise for early cancer detection. Despite progress, there's a need for improved accuracy in these tests, especially for early-stage cancers. The paper emphasizes the potential of multi-analyte measurements from exosomes as a solution to limitations in existing liquid biopsy methods.
Kantaro Biosciences, a joint venture with RenalytixAI and Bio-Techne, announced that the FDA has added its COVID-SeroKlir antibody test to the Emergency Use Authorization (EUA) for convalescent plasma treatment in hospitalized COVID-19 patients. The test, which detects SARS-CoV-2 IgG antibodies with 98.8% sensitivity and 99.6% specificity, aims to qualify high titer convalescent plasma. Kantaro emphasizes the test's potential role in advancing COVID-19 therapeutics, having been used nearly 90,000 times across diverse populations since its initial FDA authorization in November 2020.
Bio-Techne Corporation (NASDAQ: TECH) announced that Chuck Kummeth, President and CEO, will present at the 2021 SVB Leerink Global Healthcare Conference on February 24, 2021, at 11:20 a.m. EST. The live webcast can be accessed via the Investor Relations page on Bio-Techne's website. The company develops high-quality purified proteins, reagents, and diagnostic products, generating approximately $739 million in net sales in fiscal 2020. Bio-Techne's products support scientific research and clinical diagnostics, contributing significantly to drug discovery and disease understanding.
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