Bio-Techne Corp Stock Price, News & Analysis

Bio-Techne Corporation (NASDAQ:TECH) has received CE-IVD certification for its ExoDx™ Prostate test (EPI), allowing it to be performed in Europe. The test, which aids in determining the need for prostate biopsies, has demonstrated a high sensitivity of 92% and a negative predictive value of 89%. With this certification, the EPI-CE test will be available in Bio-Techne’s Munich laboratory, potentially saving over €1,000 per patient by avoiding unnecessary biopsy procedures. This advancement is expected to enhance decision-making for clinicians and patients across Europe.

Bio-Techne Corporation (NASDAQ: TECH) announced preliminary data on its kidney transplant rejection test, ExoTRU™, developed with the Azzi laboratory at Harvard Medical School. This innovative, non-invasive urine-based multigene assay can distinguish between types of kidney rejection, aiding clinical decision-making and patient care. Scheduled for launch in 2021, ExoTRU demonstrates a negative predictive value (NPV) of 93.3% and a positive predictive value (PPV) of 86.2%. The test's introduction is expected to enhance monitoring and management for kidney transplant patients who face challenges with conventional methods.

Bio-Techne Corporation (NASDAQ: TECH) has agreed to acquire Asuragen, Inc. for an initial $215 million in cash, plus contingent payments of up to $105 million based on future milestones. The deal, financed through cash reserves and a credit line, is expected to close in Q4 of fiscal 2021. Asuragen, a leader in molecular diagnostics, reported over $30 million in revenue in 2020. The acquisition aims to enhance Bio-Techne's diagnostic portfolio and leverage Asuragen's expertise in molecular products, potentially driving significant growth and market expansion.

Bio-Techne Corporation (NASDAQ: TECH) announced that its CEO, Chuck Kummeth, will present at the Barclays Global Healthcare Conference on March 11, 2021, at 9:10 a.m. EST. A live webcast will be available on the company’s Investor Relations website. The company specializes in high-quality purified proteins, reagent solutions, and diagnostic products, generating $739 million in net sales in fiscal 2020. With over 2,300 employees, Bio-Techne plays a crucial role in biomedical research and clinical diagnostics.

Bio-Techne Corporation (NASDAQ: TECH) announced a new reimbursement contract with Humana, effective April 1, 2021, for the ExoDx™ Prostate (EPI) test, a genomic tool aiding in prostate biopsy decisions. Humana, the largest Medicare Advantage provider, serves about 20 million patients. The EPI test, performed by Exosome Diagnostics, is covered by Medicare and various commercial plans. This development expands access to the test, which helps reduce unnecessary invasive procedures. Bio-Techne's CEO expressed optimism about the growing acceptance of advanced diagnostics in the healthcare sector.

Bio-Techne Corporation (NASDAQ: TECH) announced a licensing agreement with Luminary Therapeutics for TcBuster™, its non-viral gene delivery system. This agreement allows Luminary to utilize TcBuster in their LMY-920 program, which involves advanced CAR-T therapies. The license aims to enhance the manufacturing of gene-modified cell therapies, offering benefits over viral methods. Luminary plans to file an Investigational New Drug (IND) application with the FDA later this year, marking a significant step in their therapeutic development process.