China’s Xi speaks with Trump by phone, discusses Taiwan and bilateral ties
MINNEAPOLIS/SEATTLE - Bio-Techne Corporation (NASDAQ:TECH) has entered into a licensing agreement with Seattle-based Monod Bio for exclusive commercial rights to a subset of NovoBody™ Duo molecules, the companies announced Tuesday. The $9.13 billion market cap company, currently trading at $58.61, has maintained a "GOOD" overall financial health score according to InvestingPro data.
The agreement gives Bio-Techne access to these AI-designed bispecific binding proteins, which were developed at Monod Bio, a spinout from the David Baker lab at the University of Washington's Institute for Protein Design.
"NovoBody™ Duo molecules extend our portfolio with innovative AI-powered designs and state-of-the-art customization, stability, and performance," said Will Geist, President of Bio-Techne's Protein Sciences Segment, according to the press release.
Unlike traditional antibodies, these molecules can be engineered more rapidly and cost-effectively for multi-specific binding applications, making them suitable for research tools and diagnostics, the companies stated.
The partnership aligns with Bio-Techne's strategic growth initiatives in novel biological discovery and therapeutic development, while strengthening its position in AI-enabled innovation.
Bio-Techne, which reported over $1.2 billion in net sales in fiscal 2025, provides life science tools and bioactive reagents for research and clinical diagnostic applications. Monod Bio specializes in AI-powered protein design for research and diagnostic applications.
Financial terms of the licensing agreement were not disclosed in the announcement, which was based on a company press release. For investors seeking deeper insights, InvestingPro offers a comprehensive Pro Research Report on Bio-Techne, one of 1,400+ US equities covered with detailed analysis and actionable intelligence.
In other recent news, Bio-Techne Corp reported its Q1 2025 earnings, which fell short of analyst expectations. The company announced an earnings per share (EPS) of $0.42 and revenue totaling $286.6 million. These figures were slightly below what analysts had forecasted, contributing to a negative reaction from investors. Despite some positive developments in operations and products, the financial shortfall and regional revenue declines have affected market sentiment. This earnings report marks a significant event for Bio-Techne Corp, as it highlights the challenges the company faces in meeting market expectations. Additionally, the results have led to a reevaluation of the company's current standing among investors. The company's performance in the upcoming quarters will be closely watched to see if it can align more closely with analyst projections.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.