Bio-Techne

Bio-Techne Corporation is a holding company for biotechnology and clinical diagnostic brands. It was founded in 1976 as Techne Corporation and changed its name to Bio-Techne in 2014.[2] The company's brands include flagship R&D Systems (Research and Diagnostic Systems Inc.),[3] Novus Biologicals, Tocris Bioscience, ProteinSimple, Exosome Diagnostics, BiosPacific, Cliniqa, Advanced Cell Diagnostics, RNA Medical, Bionostics and BostonBiochem.[2][4] The company's products are used in both clinical and research contexts.[5][6] The company was co-founded as a "hematology controls developer"[2] by Dr. Roger C. Lucas, who presently serves as its Chief Scientific Advisor.[7]

For other uses, see Techne (disambiguation).
Bio-Techne Corporation
Public
Traded as
Industry
Founded1976
FounderDr. Roger C. Lucas
Headquarters
Minneapolis, Minnesota
,
United States
Area served
Worldwide
Key people
Chuck Kummeth (President, CEO)
ProductsProteins, antibodies, immunoassays, small molecules, cell culture media, in situ hybridization products, protein analysis instruments, diagnostic controls, calibrators, blood gas and clinical chemistry controls
Revenue
  • $563M (2017)
  • $499M (2016)
Number of employees
>2,100 (2018)
WebsiteBio-Techne
Footnotes / references
[1][2]

Bio-Techne is listed on the NASDAQ under the ticker symbol TECH.[8] Writing for Forbes from an investor's perspective, John Reese praised the management team saying it "...appears to be doing a solid job...",[9] a sentiment echoed by Philip van Doorn, writing for Dow Jones MarketWatch.[10] Interviewing investor Edward B. White for the New York Times, Carole Gould noted that White thought the chief executive, Thomas Oland, was a "deeply committed scientist."[11]

Beginning in 2013, the company's chief executive officer was Charles (Chuck) Kummeth, who had previously been employed by 3M and Thermo Fisher Scientific.[2]

In an article by the Star Tribune, Joe Carlson wrote "Analysts like how Bio-Techne is growing, combining well-considered acquisition targets with the company's long-running reputation for producing top-quality raw proteins and antibodies for use in research."[12]

Acquisitions
  • 2013: Bionostics for $104 million[13]
  • 2014: Novus Biologicals for $60 million,[14] ProteinSimple for $300 million,[15] PrimeGene,[2] CyVek[2]
  • 2015: Cliniqa Corporation[16]
  • 2016: Zephyrus Biosciences[17] Advanced Cell Diagnostics for $325 million[18]
  • 2017: Trevigen[19]
  • 2018: Atlanta Biologicals[20], Quad Technologies[21], Exosome Diagnostics for up to $575 million [22]
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References
  1. "Form 10-K". EDGAR. U.S. Securities and Exchange Commission. August 31, 2015. p. 34. Retrieved July 25, 2016.
  2. Dutton, Gail (June 15, 2014). "Bio-Techne Realigns for Growth". GEN Corporate Profile. Genetic Engineering & Biotechnology News. 34 (12): 10. Retrieved July 24, 2016.
  3. Murphy, Barbara (May 12, 1998). "Amgen Inc. Sells Its Stake in Techne Corp". Los Angeles Times. Retrieved April 25, 2015. Techne is the parent company for Research and Diagnostic Systems Inc.
  4. "Bio-Techne Corporation Brands: Bio-Techne". www.bio-techne.com. Retrieved August 5, 2018.
  5. Meguru Miyamoto; Kazuyuki Ishihara & Katsuji Okuda (April 2006). "The Treponema denticola Surface Protease Dentilisin Degrades Interleukin-1β (IL-1β), IL-6, and Tumor Necrosis Factor Alpha". Infection and Immunity. 74 (4): 2462–2467. doi:10.1128/IAI.74.4.2462-2467.2006. PMC 1418930. PMID 16552080.
  6. C-C Chang; et al. (November 23, 2012). "CCN2 inhibits lung cancer metastasis through promoting DAPK-dependent anoikis and inducing EGFR degradation". Cell Death & Differentiation. 20 (3): 443–455. doi:10.1038/cdd.2012.136. PMC 3569983. PMID 23175185.
  7. "Roger C. Lucas Ph.D." Executive Profile & Biography. Businessweek. Retrieved April 25, 2015. Dr. Roger C. Lucas, Ph.D. co-founded Techne Corp., in 1985 and serves as its Chief Scientific Advisor.
  8. "Bio-Techne Corp". Yahoo! Finance. Retrieved April 25, 2015.
  9. Reese, John P. (October 13, 2010). "China Picks Buffett Might Like". Forbes. TECHNE Corporation (TECH). Retrieved April 25, 2015. TECHNE’s management also appears to be doing a solid job
  10. Doorn, Philip van (March 2, 2015). "These are the most profitable Nasdaq biotech companies". Dow Jones MarketWatch. Retrieved April 25, 2015.
  11. Carole Gould (September 3, 2000). "Investing With: Edward B. White". The New York Times. Retrieved April 25, 2015. praising the chief executive, Thomas Oland, as a "deeply committed scientist."
  12. "Biotech firm carves a large niche in tools for research". Retrieved August 5, 2018.
  13. "Techne to buy Bionostics for $104m in cash". boston.com. Associated Press. June 18, 2013. Retrieved April 25, 2015. buy Bionostics Holdings Ltd. and its operating subsidiary Bionostics Inc. for $104 million in cash.
  14. "Bio-Techne Announces Agreement To Acquire Novus Biologicals" (Press release). Bio-Techne. July 2, 2014. Retrieved April 25, 2015 – via PR Newswire.
  15. "Bio-Techne Announces ProteinSimple Acquisition Completion" (Press release). Bio-Techne. August 1, 2014. Retrieved April 27, 2015.
  16. "Bio-Techne Corporation Agrees to Acquire Cliniqa Corporation" (Press release). Bio-Techne. June 5, 2015. Retrieved May 29, 2016 – via PR Newswire.
  17. Staff (March 21, 2016). "Bio-Techne Acquires Zephyrus Biosciences". GEN News Highlights. Genetic Engineering & Biotechnology News. Retrieved July 24, 2016.
  18. Staff (July 21, 2016). "Bio-Techne to Acquire Advanced Cell Diagnostics for Up to $325M". GEN News Highlights. Genetic Engineering & Biotechnology News. Retrieved July 24, 2016.
  19. "Bio-Techne Acquires Trevigen Inc". PR Newswire. Retrieved April 10, 2018.
  20. "Bio-Techne Acquires Atlanta Biologicals Inc". PR Newswire. Retrieved April 10, 2018.
  21. Corporation, Bio-Techne. "Bio-Techne To Acquire Quad Technologies". www.prnewswire.com. Retrieved May 22, 2019.
  22. "Bio-Techne closes $250M Exosome Diagnostics takeover". MedTech Dive. Retrieved August 5, 2018.

[1]

  1. "Bio-Techne To Acquires Quad Technologies". PR Newswire. Retrieved July 27, 2018.
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