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Bio-Techne Corporation develops, manufactures, and sells biotechnology reagents, instruments, and services for research and clinical diagnostic markets worldwide. The company operates through two main segments: Protein Sciences and Diagnostics and Genomics . Bio-Techne's offerings include high-quality biological reagents, diagnostic products, and advanced tissue-based assays, catering to both research and clinical needs .
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Protein Sciences - Develops and manufactures high-quality biological reagents, including cytokines, growth factors, antibodies, immunoassays, and small molecule compounds. Offers proteomic analytical tools for protein analysis, automated western blot, and multiplexed ELISA workflows.
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Diagnostics and Genomics - Develops and manufactures diagnostic products such as controls, calibrators, diagnostic assays, and exosome-based molecular diagnostic assays. Provides advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
James Hippel Executive | EVP and CFO | None | CFO since 2014; previously held financial leadership roles at Mirion Technologies and Thermo Fisher Scientific. | |
Kim Kelderman Executive | President and CEO | Board Member at StatLab Medical Products | Joined TECH in 2018; previously led Diagnostics and Genomics Segment; promoted to CEO in 2024. | View Report → |
Matthew McManus Executive | President, Diagnostics and Genomics | Chairman of the Board at ANSA | Joined TECH in 2021 after TECH acquired Asuragen, where he was CEO; promoted to current role in 2024. | |
Shane Bohnen Executive | SVP, General Counsel, and Corporate Secretary | None | Joined TECH in 2019; promoted to General Counsel in 2023; previously held legal roles at Resideo Technologies and Smiths Medical. | |
William Geist Executive | President, Protein Sciences Segment | None | Joined TECH in 2022; previously COO at Quanterix and held senior roles at Thermo Fisher Scientific. | |
Amy E. Herr Board | Director | Chancellor’s Professor at UC Berkeley; VP of Chan Zuckerberg Biohub Network; Founding Executive Director of UC Berkeley’s Bakar BioEnginuity Hub | Director since 2025; bioengineering expert with leadership roles in academia and biotech; co-founder of Zephyrus Biosciences (acquired by TECH). | |
John L. Higgins Board | Director | Chairman of the Board at OmniAb, Inc. | Director since 2009; former CEO of Ligand Pharmaceuticals; extensive experience in M&A and financial oversight. | |
Joseph D. Keegan, Ph.D. Board | Director | Director at Interpace Diagnostics; Executive Chair at Halo Labs and Carterra; Non-Executive Chair at Arrayjet; Director at Nuclera and Biolog | Director since 2017; extensive experience in life sciences tools and diagnostics sectors. | |
Judith Klimovsky, M.D. Board | Director | EVP and Chief Development Officer at Genmab A/S | Director since 2024; extensive experience in antibody therapeutics and oncology clinical development; previously grew Genmab's R&D team significantly. | |
Julie L. Bushman Board | Director | Director at Adient, plc and Phillips 66 | Retired EVP of International Operations at 3M; brings global operations and IT expertise. | |
Robert V. Baumgartner Board | Independent Chair of the Board | Chair at United Theranostics, LLC; Board Member at OIA Global; Advisor to Sirona Medical | Director since 2003; Chair since 2012; extensive experience as CEO and Executive Chair in large businesses. | |
Rupert Vessey, MA, BM BCh, FRCP, DPhil Board | Director | Executive Partner and Chief Scientist at Flagship Pioneering; Board Member at Generate: Biomedicines | Director since 2019; former President of Research and Early Development at Bristol-Myers Squibb; expertise in pharmaceutical R&D. |
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Given the 100 basis point headwind from incentive compensation accrual restatements impacting operating margins, what concrete steps are you taking to improve margins back to historical levels, and what is your timeline to achieve your long-term target of up to 40% operating margins?
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Demand for your COMET platform continues to outpace your manufacturing capacity; what specific measures are you implementing to scale production, and how will you address potential supply constraints that could limit growth in this high-demand area?
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The strong growth in your Molecular Diagnostics segment was partly driven by one-time factors like inventory normalization; how sustainable is this growth moving forward, and what factors give you confidence that momentum can continue into fiscal 2025?
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With instrumentation sales under pressure and peers experiencing weakness in this area, how do you plan to drive growth in your instrumentation business, and can the double-digit growth in instrument-related consumables be sustained without corresponding instrument sales?
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The Protein Sciences segment has been heavily impacted by macroeconomic pressures, especially in China and biotech funding constraints; what strategies are you implementing to accelerate growth in this segment, and how confident are you in a second-half recovery given the uncertainties in these markets?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Lunaphore Technologies SA | 2023 | Bio-Techne acquired Lunaphore for $170.1 million in a cash-free, debt-free transaction, adding spatial biology instruments to enhance its translational and clinical research capabilities, with key assets including developed technologies valued at $60.3 million and recognized goodwill of $102.56 million. |
Wilson Wolf Manufacturing LLC | 2023 | Bio-Techne made an investment acquiring approximately 20% for $257 million with a future option to acquire the remaining stake based on milestones, enhancing its position in cell and gene therapy through Wilson Wolf’s advanced cell production technology. |
Namocell, Inc. | 2022 | Bio-Techne acquired Namocell for $101.2 million (with up to an additional $25 million contingent consideration), integrating its single cell sorting and dispensing platforms into the Protein Sciences segment to strengthen its cell and gene therapy workflow solutions and proteomic analytical tools portfolio. |
Recent press releases and 8-K filings for TECH.
- Q3 FY2025 Results: Net sales reached $316.2M with 6% organic growth; Protein Sciences led with $227.7M (7% organic growth) while Diagnostics & Spatial Biology achieved 2% organic growth with robust instrument performance like COMET .
- Profitability Initiatives: Achieved an improved adjusted operating margin of 34.9% through disciplined cost control, structural streamlining, and targeted initiatives .
- Dividend & Share Repurchase: Declared a quarterly dividend of $0.08 per share (payable May 30, 2025) and launched a share repurchase program authorizing up to $500 million .
- Earnings Performance: Reported adjusted EPS of $0.56 and GAAP EPS of $0.14 (down from $0.31 last year), emphasizing operational profitability .
- Q4 Guidance: Management expects Q4 to see low-single digit organic growth amid macro headwinds, with full mitigation of tariff impacts by fiscal year 2026 .
- Academic market concerns were discussed with emphasis on a potential 50 basis point revenue impact from an 8% reduction in NIH funding, alongside early signs of recovery in March, indicating minimal long-term exposure.
- Biopharma demand dynamics were highlighted, noting that smaller biotech orders began recovering earlier and large pharma unexpectedly outpaced expectations, which contributed to raised guidance for later quarters .
- In China, robust demand for higher-end instrumentation was observed, driven by targeted government stimulus and scheduled equipment upgrades, underscoring the company's competitive position in that region.
- NIH funding impact discussed with a worst-case scenario of an 8% reduction translating to about a 50bps headwind, though long-term exposure remains limited.
- China business now contributes around 8% of revenue with a historical 50/50 mix between instruments and consumables, and management sees early recovery signs through targeted stimulus initiatives.
- The GMP protein business has grown from under $5M to over $60M annually with current double-digit growth and a long-term expected CAGR of roughly 30%, despite quarterly lumpiness.
- Discussion included M&A activity, highlighting the potential acquisition of Wilson Wolf upon reaching thresholds of $226M TTM revenue or $136M EBITDA, targeting a 4.4x TTM revenue multiple.