Bio-Techne
Public | |
Traded as | |
Industry |
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Founded | 1976 |
Founder | Dr. Roger C. Lucas |
Headquarters | Minneapolis, Minnesota, United States |
Key people | Chuck Kummeth (President, CEO) |
Products | 24,000 products, 14,000 of which are antibodies (2014) |
Revenue |
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Number of employees | >1,000 (2014) |
Website | Bio-Techne |
Footnotes / references [1][2] |
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] Boston Biochem, Tocris Bioscience, BiosPacific and Bionostics.[2] The company's products are used in both clinical and research contexts.[4][5] The company was co-founded as a "hematology controls developer"[2] by Dr. Roger C. Lucas, who presently serves as its Chief Scientific Advisor.[6]
Bio-Techne is listed on the NASDAQ under the ticker symbol TECH.[7] Writing for Forbes from an investor's perspective, John Reese praised the management team saying it "...appears to be doing a solid job...",[8] a sentiment echoed by Philip van Doorn, writing for Dow Jones MarketWatch.[9] 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."[10]
Beginning in 2013, the company's chief executive officer was Chuck Kummeth, who had previously been employed by Thermo Fisher Scientific.[2]
In 2014, the same year it underwent a reorganization and changed its name, the company acquired two companies as part of "an aggressive expansion program" and as "part of a long-term strategy to transform [itself] from a reagent supplier to an applied-markets solution provider."[2] Bio-Techne and the Chinese company PrimeGene (Shanghai PrimeGene Bio-Tech) shared customers and sold complementary products; acquisition of PrimeGene, which was anticipated to have completed by the end of 2014, was a strategic move to provide better integrated product offerings to existing customers and provide for reduced cost of manufacturing for "commodity" products.[2] At the same time, Bio-Techne invested in, with plans to eventually acquire, the American equipment maker CyVek with the intention of adapting CyPlex immunoassay technology toward development of a comprehensive platform for use of Bio-Techne products.[2][11]
Acquisitions
- 2013: Bionostics for $104 million[12]
- 2014: Novus Biologicals for $60 million,[13] ProteinSimple for $300 million,[14] PrimeGene,[2] CyVek[2]
- 2015: Cliniqa Corporation[15]
- 2016: Zephyrus Biosciences,[16] Advanced Cell Diagnostics $325 million[17]
References
- ↑ "Form 10-K". EDGAR. U.S. Securities and Exchange Commission. 2015-08-31. p. 34. Retrieved 2016-07-25.
- 1 2 3 4 5 6 7 8 9 10 Dutton, Gail (2014-06-15). "Bio-Techne Realigns for Growth". GEN Corporate Profile. Genetic Engineering & Biotechnology News. 34 (12): 10. Retrieved 2016-07-24.
- ↑ Murphy, Barbara (1998-05-12). "Amgen Inc. Sells Its Stake in Techne Corp.". Los Angeles Times. Retrieved 2015-04-25.
Techne is the parent company for Research and Diagnostic Systems Inc.
- ↑ 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.
- ↑ C-C Chang; et al. (2012-11-23). "CCN2 inhibits lung cancer metastasis through promoting DAPK-dependent anoikis and inducing EGFR degradation". Cell Death & Differentiation. 20: 443–455. doi:10.1038/cdd.2012.136. Retrieved 2015-04-25.
- ↑ "Roger C. Lucas Ph.D.". Executive Profile & Biography. Businessweek. Retrieved 2015-04-25.
Dr. Roger C. Lucas, Ph.D. co-founded Techne Corp., in 1985 and serves as its Chief Scientific Advisor.
- ↑ "Bio-Techne Corp". Yahoo! Finance. Retrieved 2015-04-25.
- ↑ Reese, John P. (2010-10-13). "China Picks Buffett Might Like". Forbes. TECHNE Corporation (TECH). Retrieved 2015-04-25.
TECHNE’s management also appears to be doing a solid job
- ↑ Doorn, Philip van (2015-03-02). "These are the most profitable Nasdaq biotech companies". Dow Jones MarketWatch. Retrieved 2015-04-25.
- ↑ Carole Gould (2000-09-03). "Investing With: Edward B. White". The New York Times. Retrieved 2015-04-25.
praising the chief executive, Thomas Oland, as a "deeply committed scientist."
- ↑ Kennedy, Patrick (2014-04-05). "Techne Makes Investment in Biotech Test System Firm". Star Tribune. Minneapolis, Minnesota. Retrieved 25 July 2016 – via HighBeam Research. (subscription required (help)).
- ↑ "Techne to buy Bionostics for $104m in cash". boston.com. Associated Press. 2013-06-18. Retrieved 2015-04-25.
buy Bionostics Holdings Ltd. and its operating subsidiary Bionostics Inc. for $104 million in cash.
- ↑ "Bio-Techne Announces Agreement To Acquire Novus Biologicals" (Press release). Bio-Techne. 2014-07-02. Retrieved 2015-04-25 – via PR Newswire.
- ↑ "Bio-Techne Announces ProteinSimple Acquisition Completion" (Press release). Bio-Techne. 2014-08-01. Retrieved 2015-04-27.
- ↑ "Bio-Techne Corporation Agrees to Acquire Cliniqa Corporation" (Press release). Bio-Techne. 2015-06-05. Retrieved 2016-05-29 – via PR Newswire.
- ↑ Staff (2016-03-21). "Bio-Techne Acquires Zephyrus Biosciences". GEN News Highlights. Genetic Engineering & Biotechnology News. Retrieved 2016-07-24.
- ↑ Staff (2016-07-21). "Bio-Techne to Acquire Advanced Cell Diagnostics for Up to $325M". GEN News Highlights. Genetic Engineering & Biotechnology News. Retrieved 2016-07-24.
External links
-
- Business data for Bio-Techne Corporation:
- Hoover's
- Reuters
- SEC filings