Bio-Techne Explained

Bio-Techne Corporation
Former Name:	Research and Diagnostic Systems, Inc. (1976–1985) Techne Corporation (1985–2014)
Type:	Public
Industry:	Biotechnology
Founder:	Roger C. Lucas
Revenue:	(2024)
Operating Income:	US$207 million (2024)
Net Income:	US$168 million (2024)
Assets:	US$2.70 billion (2024)
Equity:	US$2.07 billion (2024)
Num Employees:	3,100 (2024)
Footnotes:	^[1]

Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.^[1]

History

The company was founded in 1976 by Roger C. Lucas as Research and Diagnostic Systems, Inc. In 1985, it merged into Techne Corporation and became a public company.^[1]

In March 2013, Charles (Chuck) Kummeth was named chief executive officer of the company.^[2]

In July 2013, the company acquired Bionostics for $104 million.^{[3] [4]}

In February 2014, the company changed its name to Bio-Techne.^[5]

In April 2014, the company agreed to acquire Shanghai PrimeGene Bio-Tech Company (PrimeGene).^{[6] [7]}

In July 2014, the company acquired Novus Biologicals for $60 million.^{[8] [9] [10]}

In August 2014, the company acquired ProteinSimple for $300 million.^[11]

In November 2014, the company agreed to acquire CyVek for $60 million plus up to an additional $135 million in earn-out payments.^{[12] [13] [14]}

In June 2015, the company agreed to acquire Cliniqa Corporation.^{[15] [16]}

In March 2016, the company acquired Zephyrus Biosciences.^{[17] [18] [19]}

In July 2016, the company acquired Space Import-Export.^[20]

In August 2016, company acquired Advanced Cell Diagnostics for $250 million plus an additional $75 million in possible milestone payments.^{[21] [22] [23]}

In September 2017, the company acquired Trevigen.^{[24] [25]}

In January 2018, the company acquired Atlanta Biologicals.^{[26] [27]}

In June 2018, the company agreed to acquire Quad Technologies.^{[28] [29]}

In August 2018, the company acquired Exosome Diagnostics for $250 million plus up to an additional $325 million in milestone payments.^[30]

In June 2019, the company acquired B-Mogen.^{[31] [32]}

In April 2021, the company acquired Asuragen for $215 million plus up to an additional $105 million in milestone payments.^[33]

In June 2022, the business announced it would acquire Namocell Inc.^[34]

In June 2023, Bio-Techne announced it would acquire Lunaphore Technologies SA,^[35] the transaction was completed the following month^[36]

Notes and References

1. Web site: Bio-Techne Corporation FY 2024 Annual Report (Form 10-K) . . August 22, 2024.
2. Board Of Directors Appoints Charles Kummeth As Chief Executive Officer And Director Of Techne Corporation . . March 18, 2013.
3. News: Techne Corp. completes $104M cash purchase of Bionostics, names new CTO . Patricia . Resende . . July 23, 2013.
4. News: Local company news . . July 22, 2013.
5. News: Techne Corporation Announces New Trade Name, Bio-Techne . . February 10, 2014.
6. News: Bio-Techne Announces Acquisition Agreement . . April 15, 2014.
7. News: Techne has deal to buy Chinese genetics firm . Jim . Hammerand . . April 15, 2014.
8. News: Bio-Techne Acquires Novus Biologicals for $60M . . July 3, 2014.
9. News: Bio-Techne Announces Agreement to Acquire Novus Biologicals for $60M . . July 3, 2014.
10. News: Bio-Techne Announces Agreement To Acquire Novus Biologicals . . July 2, 2014.
11. Bio-Techne Announces ProteinSimple Acquisition Completion . . August 1, 2014.
12. Bio-Techne Announces Agreement To Acquire CyVek . . November 4, 2014.
13. News: Bio-Techne to Acquire CyVek for Up to $195M+ . . November 5, 2014.
14. News: Wallingford's CyVek acquired by Minnesota company . . November 13, 2014.
15. Bio-Techne Corporation Agrees to Acquire Cliniqa Corporation . . June 5, 2015.
16. News: Cliniqa Now Owned by Bio-Techne . . June 5, 2015.
17. Bio-Techne Corporation Agrees to Acquire Zephyrus Biosciences, Inc. . . March 21, 2016.
18. News: Bio-Techne Acquires Zephyrus Biosciences . . March 21, 2016.
19. News: Bio-Techne Acquires Zephyrus Biosciences . . March 22, 2016.
20. Bio-Techne Acquires Space Import-Export And Strengthens European Leadership Team . . July 1, 2016.
21. Bio-Techne Corporation Completed its Acquisition of Advanced Cell Diagnostics . . August 1, 2016.
22. News: Bio-Techne to Acquire Advanced Cell Diagnostics for Up to $325M . . July 7, 2016.
23. News: MedTech Bio-Techne shells out $250M for Advanced Cell Diagnostics . Amirah . Al Idrus . . July 7, 2016.
24. Bio-Techne Acquires Trevigen Inc. . . September 5, 2017.
25. News: Bio-Techne acquires privately held Trevigen . Ravikash . Bakolia . . September 5, 2017.
26. Bio-Techne Acquires Atlanta Biologicals Inc. . . January 2, 2018.
27. News: Bio-Techne buys Atlanta Biologicals in cash deal . Joe . Carlson . . January 2, 2018.
28. Bio-Techne To Acquire Quad Technologies . . June 7, 2018.
29. News: Bio-Techne to acquire privately held Quad Technologies . Ravikash . Bakolia . . June 7, 2018.
30. Bio-Techne Corporation Completed Its Acquisition of Exosome Diagnostics, Inc. . . August 1, 2018.
31. Bio-Techne To Acquire B-MoGen Biotechnologies Inc. . . June 4, 2019.
32. News: Bio-Techne acquires Minneapolis gene-editing firm formed at U of M . Alex . Wittenberg . . June 5, 2019 .
33. Bio-Techne Completes Acquisition of Asuragen, Inc. . . April 6, 2021.
34. Web site: Bio-Techne to Acquire Namocell . June 22, 2022 .
35. Web site: BIO-TECHNE TO ACQUIRE LUNAPHORE :: Bio-Techne Corporation (TECH) . June 22, 2023 .
36. Web site: Bio-Techne Completes Lunaphore Acquisition . July 10, 2023 .