Bio-Techne Corp. - TECH STOCK NEWS

Bio-Techne (NASDAQ: TECH) has released its 2024 Corporate Sustainability Report (CSR), highlighting progress in Environmental, Social, and Governance (ESG) initiatives. The report focuses on four key pillars: Our People, Advancing Science, Governance and Operational Integrity, and The Environment.

Key developments include:

• Submitting a commitment to reduce Scope 1, 2, and 3 greenhouse gas emissions
• Completing the first EcoVadis sustainability assessment, earning a Bronze Medal
• Continuing to prioritize innovation and community enrichment

CEO Kim Kelderman emphasized the company's dedication to responsible growth and delivering products for advancing therapeutics, vaccines, and diagnostics. The CSR is available on Bio-Techne's website in the Corporate and Social Responsibility section.

ScaleReady, in collaboration with Wilson Wolf Manufacturing, Bio-Techne (NASDAQ: TECH), and CellReady, has awarded a $250,000 G-Rex® Grant to ImmunoScape Pte. This grant will support ImmunoScape's process development and IND enabling studies for their novel WT1-targeted TCR-T cell therapy. The grant includes access to Wilson Wolf's G-Rex® bioreactors and Bio-Techne's new ProPak™ GMP Cytokines, designed to streamline reagent preparation and reduce costs in GMP manufacturing.

ImmunoScape plans to use the grant for pre-clinical process development, technology transfer to their CDMO partner, and generating data for an FDA IND submission planned for 2026. The G-Rex Grant Program, a $20M initiative by ScaleReady, aims to advance cell and gene-modified cell therapy development and manufacturing.

ScaleReady, in collaboration with Wilson Wolf Manufacturing, Bio-Techne (NASDAQ: TECH), and CellReady, has awarded a $150,000 G-Rex Grant to Verismo Therapeutics, a clinical-stage CAR T company. This grant, part of ScaleReady's $20 million program, aims to optimize the development and manufacturing of Verismo's KIR-CAR platform using G-Rex technology.

The grant will support Verismo in transitioning their active and future pipeline to G-Rex, enhancing efficiency and cost-effectiveness in cell therapy production. As part of the grant, Verismo will evaluate critical reagents from Bio-Techne, including GMP cytokines and the new ProPak GMP Cytokines line, estimated to be commercially available by the end of 2024.

Verismo Therapeutics, a clinical-stage CAR T company, has been awarded a $150,000 G-Rex Grant by ScaleReady™. This grant will support the optimization of Verismo's KIR-CAR platform development and manufacturing using the G-Rex technology. The grant is part of ScaleReady's $20 million program aimed at advancing Cell and Gene Therapy (CGT) development and manufacturing.

As part of the grant, Verismo will optimize their G-Rex-based KIR-CAR T process and implement it as a platform manufacturing process. The company will also evaluate critical reagents from Bio-Techne, including GMP cytokines and the new ProPakTM GMP cytokines line, estimated to be commercially available by the end of 2024.

ScaleReady and Bio-Techne (NASDAQ: TECH) have launched G-Rex optimized ProPak™ GMP Cytokines, designed for efficient closed system cell and gene-modified cell therapy (CGT) manufacturing. The product consists of a weldable bag with liquid formulated GMP-grade cytokines (IL-7 or IL-15) for CAR-T and TCR-T cell production. Each ProPak™ contains enough cytokines to dose a 1-liter G-Rex bioreactor at 10ng/mL concentration.

This innovation aims to reduce operating costs and complexity in CGT manufacturing by simplifying the process of acquiring, storing, preparing, and administering critical reagents. The product eliminates the need for cytokine reconstitution, enabling a hands-off ballroom style G-Rex manufacturing approach.

ScaleReady, in collaboration with Wilson Wolf Manufacturing, Bio-Techne (NASDAQ: TECH), and CellReady, has awarded the inaugural G-Rex® Grant of $300,000 to Dr. Steve Feldman of Stanford Medicine's Laboratory for Cell and Gene Medicine (LCGM). The grant will support the development of Stanford's G-Rex platform for CAR-T cell therapy manufacturing.

Stanford Medicine LCGM plans to use the grant to:

• Deploy a G-Rex-centric manufacturing process in an upcoming Phase 1 trial for GPC2+ pediatric neuroblastoma and medulloblastoma
• Implement Bio-Techne's Ella™ platform as a potency assay for final drug product release
• Collaborate with CellReady to create efficient G-Rex master batch records
• Develop a novel closed-system T cell purification technology

The G-Rex Grant Program is a $20M initiative by ScaleReady to advance cell and gene-modified cell therapy development and manufacturing.

Bio-Techne (NASDAQ: TECH) has announced that its President and CEO, Kim Kelderman, will be presenting at three major healthcare investor conferences in September 2024. The presentations will take place at the Morgan Stanley 22nd Annual Global Healthcare Conference on September 4th at 4:05 PM EDT, the 2024 Wells Fargo Healthcare Conference on September 6th at 11:00 AM EDT, and the Baird 2024 Global Healthcare Conference on September 10th at 1:25 PM EDT.

Investors and interested parties can access live webcasts of these presentations through the IR Calendar page on Bio-Techne's Investor Relations website. This series of presentations offers an opportunity for the company to showcase its developments and strategies to a wide audience of healthcare investors and analysts.

Bio-Techne (NASDAQ: TECH) has announced a quarterly dividend of $0.08 per share for the quarter ended June 30, 2024. The dividend will be payable on August 30, 2024, to shareholders of record as of August 19, 2024. This decision was made by the company's Board of Directors, who will consider future cash dividends on a quarterly basis.

Bio-Techne is a global life sciences company that provides innovative tools and bioactive reagents for research and clinical diagnostics. With a diverse portfolio of thousands of products, the company generated approximately $1.2 billion in net sales in fiscal 2024 and employs around 3,100 people worldwide.

Bio-Techne (NASDAQ: TECH) reported its Q4 and full fiscal year 2024 results. Q4 organic revenue increased by 1% (2% reported) to $306.1 million, while full-year organic revenue grew 1% (2% reported) to $1.2 billion. Q4 GAAP EPS was $0.25, down from $0.47 a year ago, and adjusted EPS was $0.49, compared to $0.55 last year. Full-year GAAP EPS decreased to $1.05 from $1.76, and adjusted EPS fell to $1.77 from $1.99. The Diagnostics & Genomics segment showed strong performance with 9% organic growth in Q4 and 6% for the full year. Cash flow from operations increased by 18% to $299.0 million for fiscal 2024. The company noted stabilization in biopharma and China markets, with continued focus on profitability resulting in a 33.5% adjusted operating margin in Q4.