Skip to main content

Market Overview

Bio-Techne Scoops Up Genetics And Oncology-Focused Diagnostics Firm

Share:
  • Bio-Techne Corp (NASDAQ: TECH) has agreed to acquire Asuragen Inc, a provider of genetic carrier screening and oncology testing kits.
  • The deal value includes an initial consideration of $215 million in cash plus contingent consideration of up to $105 million.
  • The transaction will close by the end of this year.
  • Bio-Techne had a cash, equivalents, and short-term investments balance of $282.95 million as of December 2020.
  • Asuragen operates a 50,000 square foot manufacturing facility and a laboratory. Last year it generated greater than $30 million in revenue globally.
  • Asuragen's CEO, Matt McManus, will join the Bio-Techne team to continue to lead the legacy Asuragen business and the integration process.
  • Perella Weinberg Partners LP is the financial advisor, and Vinson & Elkins LLP is serving as legal counsel to Asuragen.
  • Price Action: TECH shares closed 3.8% lower at $361.24 on Wednesday.
 

Related Articles (TECH)

View Comments and Join the Discussion!

Posted-In: DiagnosticsBiotech M&A News Health Care General

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com