BIO-TECHNE SUCCESSFUL ON SECOND CLAIM OF REVERSE ENGINEERING BY MILTENYI BIOTEC
Bio-Techne (NASDAQ: TECH) has won another legal case against Miltenyi Biotec in the Cologne Regional Court, Germany, regarding the unauthorized reverse engineering of Bio-Techne's proprietary NKG2C/CD159c antibodies.
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Rhea-AI Summary
Bio-Techne (NASDAQ: TECH) has won another legal case against Miltenyi Biotec in the Cologne Regional Court, Germany, regarding the unauthorized reverse engineering of Bio-Techne's proprietary NKG2C/CD159c antibodies. The court found that Miltenyi's antibodies had 100% identical variable regions to Bio-Techne's R&D Systems branded products.
This victory follows a similar 2023 case where Miltenyi was found to have reverse engineered Bio-Techne's TIGIT and CCR-7 antibodies. The court has awarded Bio-Techne monetary damages for sales of the reverse engineered antibodies, reimbursement of costs for demonstrating copying, and rights to additional information about Miltenyi's unlawful activities. Miltenyi retains the right to appeal the ruling.
Positive
- Court victory grants Bio-Techne monetary damages for unauthorized antibody sales
- Court awards reimbursement of costs for proving intellectual property infringement
- Company gains right to detailed information about Miltenyi's reverse engineering activities
Negative
- Potential appeal by Miltenyi could extend legal proceedings
- Ongoing intellectual property violations indicate continued market competition risks
Details
News Market Reaction – TECH
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Bio-Techne took legal action against Miltenyi in the
"We are pleased the court has recognized that Miltenyi has repeatedly and unlawfully passed off Bio-Techne's proprietary innovations to Miltenyi's customers as their own," said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. "We have spent almost five decades developing our extensive catalogue of solutions that enable the scientific community to discover novel biological insights and develop advanced therapeutics. We will continue to vigorously defend our intellectual property against Miltenyi and any other potential offenders."
Miltenyi may appeal the Court's ruling.
About Bio-Techne
Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities. Bio-Techne products assist scientific investigations into biological processes and the nature and progress of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With hundreds of thousands of products in its portfolio, Bio-Techne generated approximately
Contact: | David Clair, Vice President, Investor Relations & Corporate Development |
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SOURCE Bio-Techne Corporation
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