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MINNEAPOLIS - Bio-Techne (NASDAQ:TECH) Corporation (NASDAQ: TECH) has once again succeeded in a legal dispute against Miltenyi Biotec, with the Cologne Regional Court ruling in favor of the life sciences company. The court found that Miltenyi Biotec unlawfully commercialized antibodies that were reverse engineered from Bio-Techne's proprietary R&D Systems branded NKG2C/CD159c antibodies.
The court's decision, which follows a similar case from 2023 involving TIGIT and CCR-7 antibodies, entitles Bio-Techne to monetary damages and reimbursement for costs incurred in proving the infringement. The court also ordered Miltenyi to provide detailed information about their reverse engineering activities.
Kim Kelderman, President and CEO of Bio-Techne, expressed satisfaction with the court's recognition of Miltenyi's repeated unauthorized use of Bio-Techne's innovations. Kelderman emphasized the company's commitment to defending its intellectual property, which has been developed over nearly five decades to support scientific research and the development of advanced therapeutics.
Miltenyi has the option to appeal the court's ruling.
Bio-Techne, a global life sciences company, offers tools and bioactive reagents for research and clinical diagnostics. The company boasts an extensive portfolio of products that facilitate the study of biological processes and disease progression, contribute to drug discovery, and enable precise clinical tests and diagnoses. Bio-Techne reported net sales of approximately $1.2 billion in fiscal 2024 and employs over 3,100 people worldwide. InvestingPro analysis reveals an impressive gross profit margin of 66% and a 17-year track record of consistent dividend payments. For detailed insights and access to the comprehensive Pro Research Report covering Bio-Techne and 1,400+ other US stocks, consider subscribing to InvestingPro.
The information in this article is based on a press release statement from Bio-Techne Corporation.
In other recent news, Bio-Techne Corporation has been actively forging strategic alliances and making significant business moves. The company's recent partnership with Waters Corporation (NYSE:WAT) aims to enhance biotherapeutic development processes by integrating Bio-Techne's MauriceFlex™ System with Waters' BioAccord™ LC-MS System. Additionally, Bio-Techne has also partnered with Leader Life Sciences to distribute its comprehensive portfolio throughout the Gulf Cooperation Council countries.
On the financial front, Bio-Techne reported a 4% year-over-year organic revenue growth in its first quarter for Fiscal Year 2025, with revenues reaching $289.5 million. The company's adjusted earnings per share (EPS) saw a slight increment to $0.42 from the previous year's $0.41.
In executive moves, Bio-Techne 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.
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 highlight Bio-Techne's strategic growth initiatives and its effective navigation through market challenges.
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