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MINNEAPOLIS - Bio-Techne Corporation (NASDAQ:TECH) has expanded its agreement with Oxford Nanopore Technologies (LSE:ONT) to develop a broader portfolio of genetic products and extended their collaboration through 2032, according to a press release statement. Oxford Nanopore, currently valued at $1.9 billion, has shown strong momentum with a 42% stock price gain over the past six months.
The enhanced agreement builds on the companies’ previous work that resulted in the AmplideX Nanopore Carrier Plus Kit launched in March 2025. The collaboration will focus on developing targeted enrichment sequencing kits for screening and diagnosing heritable genetic disorders.
The expanded partnership establishes a framework for defining and proposing future product portfolios, allowing Bio-Techne to leverage Oxford Nanopore’s molecular sensing platform.
"This expanded agreement underscores our commitment to advancing genetic testing solutions that simplify workflows and deliver richer insights for laboratories worldwide," said Matt McManus, President of Bio-Techne’s Diagnostics and Spatial Biology Segment.
Rosemary Dokos, Chief Product and Marketing Officer of Oxford Nanopore Technologies, stated the collaboration aims to "make testing faster, simpler, and more accessible."
Bio-Techne, a provider of life science tools, reagents, and diagnostic products, reported over $1.2 billion in net sales in fiscal 2025 and employs approximately 3,100 people globally.
Oxford Nanopore Technologies develops nanopore-based sensing technology for DNA and RNA analysis, with its platform being used in more than 125 countries.
In other recent news, Oxford Nanopore Technologies reported first-half revenue of £105 million, surpassing market expectations and showing a 28% growth at constant exchange rates. This growth was driven by strong performance in its PromethION product range, which saw a 59% year-over-year increase, and in Applied markets, which grew 33% compared to the same period last year. The company also reiterated its full-year outlook, maintaining a positive stance for the remainder of the year.
Deutsche Bank has raised its price target for Oxford Nanopore to GBP2.10 from GBP1.90, maintaining a Buy rating. The firm suggests that the company is taking a cautious approach, with fiscal year 2025 numbers appearing "de-risked." Similarly, Piper Sandler increased its price target to GBP1.90 from GBP1.50 and continues to rate the stock as Overweight. Piper Sandler noted that Oxford Nanopore’s results were consistent with its half-year trading update, with pricing trends expected to remain favorable in the second half of the year.
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