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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Bio Techne Corporation | NASDAQ:TECH | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -3.13 | -4.10% | 73.29 | 73.28 | 74.97 | 78.44 | 74.15 | 76.48 | 1,278,550 | 00:58:02 |
From Dec 2024 to Jan 2025
MINNEAPOLIS, Jan. 7, 2025 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today announced that it prevailed on another claim that Miltenyi Biotec B.V. & Co. KG commercialized antibodies developed based on information obtained by reverse engineering Bio-Techne's proprietary R&D Systems branded NKG2C/CD159c antibodies. This follows a similar case from 2023, where Miltenyi was found to have reversed engineered and commercialized Bio-Techne's proprietary R&D Systems branded TIGIT and CCR-7 antibodies.
Bio-Techne took legal action against Miltenyi in the Cologne Regional Court, Germany (docket no. 33 O 221/24), after discovering that the variable regions of Miltenyi's NKG2C/CD159c antibodies were 100% identical to the R&D Systems antibodies. In addition to finding that Miltenyi has been marketing and selling these reverse engineered antibodies, the court determined that Bio-Techne is entitled to monetary damages related to sales of the reverse engineered antibodies, reimbursement for Bio-Techne's costs incurred to demonstrate that Miltenyi copied our antibodies and additional detailed information regarding Miltenyi's unlawful reverse engineering activities.
"We are pleased the court has recognized that Miltenyi has repeatedly and unlawfully passed off Bio-Techne's proprietary innovations to Miltenyi's customers as their own," said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. "We have spent almost five decades developing our extensive catalogue of solutions that enable the scientific community to discover novel biological insights and develop advanced therapeutics. We will continue to vigorously defend our intellectual property against Miltenyi and any other potential offenders."
Miltenyi may appeal the Court's ruling.
About Bio-Techne
Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities. Bio-Techne products assist scientific investigations into biological processes and the nature and progress of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With hundreds of thousands of products in its portfolio, Bio-Techne generated approximately $1.2 billion in net sales in fiscal 2024 and has over 3,100 employees worldwide. For more information on Bio-Techne and its brands, please visit https://www.bio-techne.com or follow the Company on social media at: Facebook, LinkedIn, Twitter or YouTube.
Contact: | David Clair, Vice President, Investor Relations & Corporate Development |
View original content to download multimedia:https://www.prnewswire.com/news-releases/bio-techne-successful-on-second-claim-of-reverse-engineering-by-miltenyi-biotec-302343926.html
SOURCE Bio-Techne Corporation
Copyright 2025 PR Newswire
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