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MINNEAPOLIS - Bio-Techne Corporation (NASDAQ: TECH), a $10.2 billion market cap company with robust financials and a GOOD health score according to InvestingPro, has started the distribution of its new Leo System, an advancement in automated protein analysis, the company announced today. The Leo System is designed to enhance protein quantitation with increased sample throughput and reproducibility, positioning itself as a significant development in bioanalytical workflows.
The Leo System, which utilizes Simple Western Technology, enables the processing of up to 100 samples within a single run of three hours. This capacity is touted as quadruple the throughput of its predecessor, the Jess Simple Western System, and provides a fivefold increase in speed compared to the Sally Sue and Peggy Sue Simple Western Systems. Its high throughput and fast turn-around-times are expected to streamline studies and development processes in the scientific community. With a strong current ratio of 3.94 and annual revenue of $1.2 billion, Bio-Techne demonstrates the financial capability to support this innovative product launch.
A key feature of the Leo System is its ability to deliver analytical grade protein quantitation that meets the stringent requirements of regulatory agency submissions. The system is also equipped with the enhanced Compass for Simple Western Software, which includes advanced analysis capabilities and support for 21 CFR Part 11 Compliance, a regulation pertaining to electronic records and signatures.
Will Geist, President of Bio-Techne’s Protein Sciences Segment, stated that the Leo System allows for the acceleration of scientific advancements and the faster commercialization of next-generation therapies. The company highlighted the positive feedback from early adopters and beta testers, who have commended the system’s robust performance and versatility across various applications including clinical biomarker studies, gene therapy potency assays, and quality control.
Bio-Techne Corporation, a leading developer and manufacturer of high-quality purified proteins and reagent solutions, is presenting data on the Leo System’s performance in an upcoming webinar. This move illustrates the company’s commitment to supporting scientific research and the development of novel therapeutic approaches. For deeper insights into Bio-Techne’s financial health and growth potential, including 10+ additional ProTips and comprehensive analysis, visit InvestingPro, where you’ll find detailed research reports and expert analysis covering 1,400+ US stocks.
The information for this article is based on a press release statement from Bio-Techne Corporation.
In other recent news, Bio-Techne Corporation reported its Q4 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.42 compared to a forecast of $0.39. The company also achieved revenue of $297 million, exceeding the anticipated $286.14 million. This performance reflects a 4% year-over-year increase in revenue and a 5% growth in net gross profit, reaching $95 million. Bio-Techne also announced the launch of a Good Manufacturing Practice (GMP) grade transposase mRNA for its TcBuster genome engineering system, which is expected to enhance the development of cell-based therapies. In legal developments, Bio-Techne has been ordered to pay approximately $37 million to former CEO Charles R. Kummeth following an arbitration decision regarding stock options. This payout includes nearly $36 million based on the average closing price of the company’s stock prior to the original expiration date, along with interest and legal fees. These updates reflect Bio-Techne’s ongoing strategic initiatives and financial adjustments.
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