Bio-Techne Announces Grand Opening Of GMP Manufacturing Facility

Rhea-AI Summary

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.

Positive

• New 61,000 square foot GMP facility opened, enhancing capacity.
• $50 million investment demonstrates commitment to growth.
• Increased production capabilities for GMP-grade materials meet demand from over 1,000 cell and gene therapies in clinical trials.
• Facility supports the rapidly growing cell therapy market.

Negative

• None.

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MINNEAPOLIS, Sept. 30, 2020 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today announced the grand opening of its approximately 61,000 square foot state-of-the-art GMP (Good Manufacturing Practices) manufacturing facility. Located in St. Paul, MN, the new facility is dedicated to supporting large-scale production of GMP-grade materials, including E. coli-derived recombinant proteins, which are an essential component for many immuno-oncology and regenerative medicine cell and gene-modified therapy workflows. The advent of both chimeric antigen receptor T cell therapies (CAR T) and stem cell therapies has significantly increased the demand for GMP grade recombinant proteins. The opening of this facility positions Bio-Techne to meet current and future demand for the GMP-grade reagents necessary to support the rapidly growing cell therapy market.

Bio-Techne invested approximately $50 million to build the new facility and equip it with the advanced manufacturing and quality control technologies needed to produce products for cell and gene therapies. The process of culturing cells for therapeutic use requires precise amounts of specific biological proteins to support cell growth and development. Bio-Techne has decades of experience in manufacturing these proteins. With multiple fermenters and purification suites, this new facility will now allow Bio-Techne to manufacture the large quantities of proteins under the GMP quality conditions required for use in the manufacturing of cells for therapeutic applications. Following extensive quality validation procedures, the facility is expected to begin production in early 2021.

Cell and gene therapies are rapidly growing fields of medicine that introduce natural or genetically modified cells into patients' bodies to treat disease or repair damaged tissues, representing the next paradigm in treating difficult clinical indications. Initial successes in immuno-oncology have propelled the market forward, enabling many commercial and research institutions to develop novel cell therapeutic modalities, creating a rich pipeline of potential therapies. These cell and gene therapies provide new hope to patients where traditional therapies were previously unavailable or failed over time.      

"Bio-Techne is the global leader in manufacturing research-grade proteins, with our R&D Systems brand widely recognized for the highest level of purity, bioreactivity and lot-to-lot consistency," commented Chuck Kummeth, Bio-Techne's President and Chief Executive Officer. "GMP proteins are an essential ingredient for the production of cell and gene therapies. With over 1,000 cell and gene therapies in various phases of clinical trials globally, we anticipate demand for GMP-grade proteins to dramatically increase going forward, representing a potential bottleneck in the cell and gene therapy workflow. Bio-Techne's global recognition combined with our state of the art GMP manufacturing facility positions us to meet global demand and further solidify our protein leadership position."  

More information on Bio-Techne's portfolio of products for Cell & Gene Therapy workflow can be found at www.bio-techne.com/research-areas/cell-and-gene-therapy.

About Bio-Techne Corporation (NASDAQ: TECH)

Contact:

David Clair, Senior Director, Corporate Development 612-656-4416  david.clair@bio-techne.com

 

 

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SOURCE Bio-Techne Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the significance of Bio-Techne's new GMP facility opening on Sept. 30, 2020 for stock symbol TECH?

Bio-Techne's new GMP facility enhances its production capacity for critical materials in cell and gene therapies, potentially driving future revenue growth and solidifying its market position.

How much did Bio-Techne invest in the new manufacturing facility?

Bio-Techne invested approximately $50 million to build and equip the new GMP manufacturing facility.

What will the new GMP manufacturing facility produce?

The facility will produce GMP-grade materials, including E. coli-derived recombinant proteins for cell and gene therapy workflows.

When is production expected to begin at the new facility?

Production at the new facility is expected to begin in early 2021 after quality validation procedures.

How does the new facility impact Bio-Techne's position in the market?

The facility positions Bio-Techne to meet the increasing global demand for GMP-grade proteins, reinforcing its leadership in research-grade protein manufacturing.