Welcome to our dedicated page for Bio-Techne Corporation news (Ticker: TECH), a resource for investors and traders seeking the latest updates and insights on Bio-Techne Corporation 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 (NASDAQ: TECH) has announced a conference call and webcast scheduled for August 7, 2024, at 8:00 a.m. CDT to review their fourth quarter and fiscal 2024 financial results. Investors and interested parties can access the call via phone or webcast. For those unable to attend live, a recorded rebroadcast will be available from 11:00 a.m. CDT on August 7 until 11:00 p.m. CDT on September 7, 2024. This event provides an opportunity for stakeholders to gain insights into Bio-Techne's financial performance and future outlook.
Bio-Techne (NASDAQ: TECH) has announced that its President and CEO, Kim Kelderman, will present at several upcoming investor conferences. These include the William Blair 44th Annual Growth Conference on June 4, 2024, the Jefferies Global Healthcare Conference on June 6, 2024, and the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024. Each presentation will be accessible via a live webcast on Bio-Techne's Investor Relations website.
Bio-Techne (NASDAQ: TECH) will showcase its MauriceFlex™ System at the 72nd ASMS Conference on Mass Spectrometry from June 2-6, 2024, in Anaheim, California.
The MauriceFlex System offers advanced imaged capillary isoelectric focusing (icIEF) solutions, including fractionation, and supports various mass spectrometric methods for protein characterization.
Highlights include a breakfast seminar on June 4th featuring Dr. Chris Heger and Dr. Sara Carillo discussing the system's applications, particularly in protein charge heterogeneity and cell and gene therapy.
Bio-Techne will also present seven posters detailing collaborations with industry leaders like Pfizer and 908 Devices, showcasing advancements in charge isoform characterization.
Will Geist, President of Protein Sciences, emphasized the system's unique capabilities and collaborative efforts at ASMS to advance life-saving therapies.
Visit Bio-Techne at Booth #161 and learn more at bio-techne.com/mauriceflex.
ScaleReady, in cooperation with Wilson Wolf Manufacturing, Bio-Techne (NASDAQ: TECH), and CellReady, has unveiled a $20 million G-Rex® Grant Program aimed at advancing cell and gene therapy (CGT) development. The initiative offers up to $300,000 in G-Rex® devices, reagents, equipment, and support services to qualifying academic and commercial institutions. The program intends to reduce barriers to CGT innovation, enabling faster and more cost-effective development. Industry leaders emphasize the program's potential to enhance research timelines, streamline transitions to GMP manufacturing, and improve data quality for IND applications.
Bio-Techne (NASDAQ: TECH) has announced that its President and CEO, Kim Kelderman, will present at the 2024 Leerink Partners Healthcare Crossroads Conference.
The presentation is scheduled for May 29, 2024, at 8:40 a.m. CDT. Interested parties can access a live webcast of the presentation on Bio-Techne's Investor Relations website.
Bio-Techne (NASDAQ: TECH) and Regulus Therapeutics Inc. announced positive top-line results from the second cohort of their Phase 1b MAD study of RGLS8429 for Autosomal Dominant Polycystic Kidney Disease (ADPKD). The collaboration, ongoing since 2020, utilizes Bio-Techne's Simple Western™ platforms and ExosomeDx CLIA laboratory for biomarker analysis. Regulus developed assays to measure polycystin 1 and 2 levels, key biomarkers in ADPKD, using Bio-Techne’s technology. This milestone highlights the clinical potential of RGLS8429 and advances the study, aiming to improve global healthcare with innovative therapeutics.
Molecular Instruments announced a significant legal victory with the Patents Court of the High Court of England and Wales ruling in their favor against Advanced Cell Diagnostics, a Bio-Techne group company (NASDAQ: TECH). The court revoked two European patents (UK) held by Advanced Cell Diagnostics and dismissed their infringement claims against Molecular Instruments regarding the HCR™ RNA-ISH technology. This action resulted in Advanced Cell Diagnostics being ordered to pay £1.35 million (approximately $1.72 million) to Molecular Instruments. The judgment by Mr. Justice Meade, delivered on April 23, 2024, concluded that the patents were invalid due to obviousness based on overwhelming primary evidence. Dr. Harry Choi, CEO of Molecular Instruments, expressed satisfaction with the outcome, emphasizing their commitment to supporting UK researchers with advanced molecular tools.
Bio-Techne (NASDAQ: TECH) has confirmed that Kim Kelderman, President and CEO, will present at the BofA Securities Health Care Conference on May 14, 2024. The presentation will be available via live webcast on the company's Investor Relations website.
Bio-Techne (NASDAQ: TECH) will present at the 27th Annual Meeting of the American Society of Gene & Cell Therapy, showcasing its cell and gene therapy workflow solutions. The event will feature speaker sessions, poster presentations, and a multimedia experience highlighting Bio-Techne's innovative tools and solutions for advancing cell and gene therapies.
Bio-Techne (NASDAQ: TECH) reported third-quarter fiscal 2024 results with organic revenue up 2%, GAAP EPS at $0.31, adjusted EPS at $0.48, and strong commercial execution in Diagnostics & Genomics segment. Cash flow increased by 31% to $223.5 million.
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