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    Bio-Techne Corp (TECH)

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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 .

    1. 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.

    2. 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.

    NamePositionExternal RolesShort 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.

    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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?

    Program DetailsProgram 1
    Approval DateFebruary 2, 2022
    End Date/DurationN/A
    Total additional amount$400 million
    Remaining authorization amount$180.7 million
    DetailsMitigate the dilutive effect of stock option exercises
    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    2025100Forward Starting SwapN/A25% = (100 / 400) * 100
    2025200Forward Starting SwapN/A50% = (200 / 400) * 100
    2026100Forward Starting SwapN/A25% = (100 / 400) * 100
    2027300Revolving Credit FacilityVariable75% = (300 / 400) * 100
    NameStart DateEnd DateReason for Change
    KPMG LLP2002 PresentCurrent auditor

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    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.

    Bio-Techne Addresses Market Volatility and Guidance Improvements
    TECH
    Guidance Update
    Revenue Acceleration/Inflection
    Demand Weakening
    • 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.
    Mar 12, 2025, 2:01 PM
    Bio-Techne Reviews Funding Dynamics, Growth Drivers, and M&A Outlook
    TECH
    Revenue Acceleration/Inflection
    M&A
    Guidance Update
    • 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.
    Mar 11, 2025, 3:21 PM