MINNEAPOLIS - Bio-Techne (NASDAQ:TECH) Corporation (NASDAQ: TECH), a provider of automated platforms for biotherapeutic characterization with a market capitalization of $11.35 billion, announced today its new strategic alliance with Waters Corporation (NYSE:WAT). According to InvestingPro data, the company maintains a "GOOD" financial health rating, supported by strong profitability metrics and robust liquidity position. This collaboration is set to enhance biotherapeutic development processes by integrating Bio-Techne's MauriceFlex™ System with Waters' BioAccord™ LC-MS System.
The partnership focuses on the co-marketing and co-promotion of both companies' complementary technologies to improve workflow efficiency, precision, and speed in the development of biotherapeutics. Joint efforts have already been initiated, with activities in recent months that included the release of an application note, a webinar, and presentations at significant industry conferences.
Will Geist, President of the Protein Sciences Segment at Bio-Techne, expressed enthusiasm for the partnership's potential to expedite biotherapeutic characterization in biopharmaceutical laboratories. He emphasized the company's commitment to delivering innovative solutions that streamline scientific workflows and expedite the delivery of life-saving therapies to the market.
Bio-Techne and Waters have been actively engaging the scientific community through their collaboration. Application scientists from both entities are currently analyzing additional classes of biomolecules, and their findings are expected to be showcased in future scientific conferences. The collaboration aims to produce further application notes, webinars, and presentations to promote their advanced capabilities in biotherapeutic characterization and development.
Bio-Techne Corporation, with a global presence in the life sciences sector, offers a wide range of tools and reagents for research and clinical diagnostic applications. The company reported net sales of approximately $1.2 billion in fiscal 2024 and employs around 3,100 individuals worldwide. With an impressive gross profit margin of 66% and a current ratio of 4.56, InvestingPro analysis reveals the company's strong operational efficiency and solid balance sheet. Investors seeking detailed insights can access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering this and 1,400+ other top US stocks.
This strategic partnership marks a step towards integrating and optimizing technologies in the biotherapeutic characterization space, potentially benefiting the biopharmaceutical industry with improved methods for developing therapies. The information for this article is based on a press release statement.
In other recent news, Bio-Techne Corporation reported a 4% year-over-year organic revenue growth in its first quarter for Fiscal Year 2025, with revenues reaching $289.5 million. Adjusted earnings per share (EPS) saw a slight increment to $0.42 from the previous year's $0.41. The company also announced a new partnership with Leader Life Sciences to distribute Bio-Techne's comprehensive portfolio throughout the Gulf Cooperation Council (GCC) countries.
Additionally, Bio-Techne Corporation granted its Executive Vice President and Chief Financial Officer, James Hippel, a one-time award of 34,634 restricted stock units (RSUs) as a retention incentive. Meanwhile, Baird, a financial services firm, increased its price target for Bio-Techne from $82 to $84, maintaining an Outperform rating, following the company's strong quarterly results.
These recent developments underline Bio-Techne's effective navigation through market challenges and its focus on strategic growth initiatives. Despite challenges in China, Bio-Techne successfully launched new products, including the high-throughput Western Blot system, Leo, and RNAscope assays on its COMET platform. The company experienced over 60% growth in its cell and gene therapy segment's GMP reagents.
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