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) will have its CEO, Chuck Kummeth, present at the Stifel 2020 Virtual Healthcare Conference on November 16, 2020, at 1:20 p.m. EST. Interested parties can access a live webcast through the Investor Relations website. Bio-Techne specializes in producing high-quality proteins and diagnostic tools used in biomedical research and clinical laboratories. In fiscal 2020, the company reported approximately $739 million in net sales and employs over 2,300 people globally.
Bio-Techne Corporation (NASDAQ: TECH) announced that CFO Jim Hippel will present at the 29th Annual Credit Suisse Virtual Healthcare Conference on November 11, 2020, at 4:15 p.m. EST. Interested parties can access the live webcast through 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. With over 2,300 employees, Bio-Techne continues to support scientific research, drug discovery, and clinical diagnostics.
Kantaro Biosciences has formed a two-year marketing and distribution agreement with EKF Diagnostics to provide its COVID-19 antibody tests, COVID-SeroKlir and COVID-SeroIndex, across Europe, with exclusive rights in the UK and Germany. The tests boast a CE Mark certification, demonstrating high sensitivity (97.8%) and specificity (99.6%) in detecting IgG antibodies. This partnership aims to enhance public health strategies and assist in assessing immunity amidst ongoing vaccination efforts. The technology is based on extensive research at the Mount Sinai Health System.
Kantaro Biosciences, in partnership with Bio-Techne Corporation, has secured CE marking for its COVID-SeroKlir and COVID-SeroIndex antibody test kits. These quantitative tests, now available to authorized clinical labs in the EU, provide crucial data about COVID-19 antibody presence and levels. COVID-SeroKlir demonstrates 97.8% sensitivity and 99.6% specificity, supporting both clinical and research applications. Kantaro aims to produce up to 10 million tests monthly, enhancing pandemic response efforts.
Bio-Techne Corporation (NASDAQ: TECH) launched the SARS-CoV-2 Multi-Antigen Serology Module for its Simple Western automated systems. This new assay detects human IgG antibodies against five SARS-CoV-2 antigens within three hours, processing up to 23 samples simultaneously. The module promises to enhance COVID-19 research by providing a detailed view of immune responses, offering quicker, reproducible results compared to traditional methods. Bio-Techne emphasizes its commitment to supporting vaccine developers and researchers with this advanced technology.
Bio-Techne Corporation (NASDAQ: TECH) will host a conference call and webcast on November 5, 2020, at 8:00 a.m. CST to discuss its first quarter 2021 financial results. Investors can access the live call via phone or online. A replay will be available after the call until December 5, 2020. Bio-Techne, a leader in developing purified proteins and diagnostic products, reported approximately $739 million in net sales for fiscal 2020 and employs around 2,300 staff worldwide.
Bio-Techne Corporation (NASDAQ:TECH) has opened a new office in Toronto, Canada, housing approximately 40 employees. This facility aims to support the Canadian life sciences industry and will service academic and biopharma clients with Bio-Techne's life science tools and diagnostic reagents. The Toronto office will also manufacture and distribute cartridges for the Protein Simple branded iCE and Maurice systems, enhancing the company’s production capacity. Designed for energy efficiency, it meets ISO 9001 standards to ensure high-quality operations.
Bio-Techne Corporation (NASDAQ: TECH) announced the grand opening of a 61,000 square foot GMP manufacturing facility in St. Paul, MN, investing $50 million. This facility aims to support large-scale production of GMP-grade materials essential for cell and gene therapies, particularly E. coli-derived recombinant proteins. With a growing demand driven by immuno-oncology and stem cell therapies, Bio-Techne is positioned to enhance its manufacturing capabilities and meet global market needs. Production is expected to begin in early 2021 after quality validation procedures.
Bio-Techne Corporation (NASDAQ:TECH) announced a publication in BMC Urology regarding the ExoDx Prostate test (EPI). Conducted by Dr. James McKiernan and colleagues, the study found that EPI achieved a 92% negative predictive value for ruling out high-grade prostate cancer in men with prior negative biopsies, potentially avoiding 27% of unnecessary repeat biopsies. Prostate cancer remains a significant health concern, with over 3.6 million men living with it in the U.S. This study underscores the test's clinical benefits, elevating patient and physician confidence in biopsy decisions.
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