In This Article:
Bio-Techne Corporation TECH recently announced a co-marketing and co-promotion agreement with Waters Corporation. The latest partnership is aimed at expanding the reach of advanced biotherapeutic characterization and development processes. Additionally, it is expected to bolster the company’s Diagnostics and Spatial Biology segment.
TECH’s Likely Stock Trend Following the News
Since the announcement on Dec. 19, Bio-Techne’s shares dipped 0.03% to $71.39 last Thursday. Earlier in October and November 2024, scientists and commercial team members of both Bio-Techne and Waters Corporation participated in several joint activities at key conferences, including CASSS MS, Festival of Biologics and PEGS EU, and in-person talks at two Bio-Techne User Group Meetings in Boston and San Diego. Accordingly, we expect the latest agreement to boost the market sentiment toward TECH stock in the upcoming days.
Bio-Techne has a market capitalization of $11.63 billion. The Zacks Consensus Estimate for the company’s fiscal 2025 earnings indicates a 5.1% year-over-year increase on a 5.5% revenue improvement. In the trailing four quarters, it delivered an average earnings surprise of 1.55%.
More on TECH’s Agreement
Under the agreement, the companies plan to combine their complementary expertise on charge separation (Bio-Techne's MauriceFlex System) and liquid chromatography-mass spectrometry (BioAccord LC-MS System from Waters) to deliver innovative solutions that optimize workflows, improve precision and accelerate development timelines.
Meanwhile, application scientists from both companies are working on the analysis of additional classes of biomolecules. The companies plan to exhibit the joint results at the upcoming scientific conferences. Additionally, this work will guide application notes, webinars and presentations at the upcoming Bio-Techne User Group Meetings.
Industry Prospects Favor Bio-Techne
Per a report from Roots Analysis, the global biotherapeutics market is expected to grow to $11.00 billion by 2025, at a CAGR of 9.6%. Biotherapeutics is currently the fastest-growing sector within the biopharmaceutical industry. Advances in biotechnology and a better understanding of human microbiome are fueling the market growth.
Image Source: Zacks Investment Research
More Updates From TECH
Earlier this month, Bio-Techne launched a highly sensitive ESR1 mutation monitoring assay through its Asuragen brand. ESR1 gene mutations are known to be linked to hormone receptor-positive (HR+) metastatic breast cancer.
Additionally, the company partnered with MedSanTek. Per the agreement, MedSanTek became the distributor of Bio-Techne's R&D Systems, Novus, Tocris, Protein Simple, Advanced Cell Diagnostics (ACD) and Asuragen brands across Turkey.