MINNEAPOLIS, Sept. 17, 2020 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) and QIAGEN N.V. today announced the expansion and extension of a non-exclusive partnership to co-market exosome technology to existing and potential biopharma partners as well as the joint development of new exosome based products.
The agreement grants QIAGEN a non-exclusive development license to Bio-Techne's exosome technology for the development of companion in vitro diagnostic products (CDX-IVD) for existing and potential biopharma partners. Following the agreement, both Bio-Techne and QIAGEN will be actively promoting the use of exosome technology to their respective global biopharma partners. The initial phase of the co-marketing agreement lasts 24 months, with the potential to extend longer upon the fulfillment of certain conditions.
The two companies also announced the extension and expansion of the existing exclusive collaboration and license agreement that was originally in place between Exosome Diagnostics (now a Bio-Techne company) and QIAGEN. The agreement includes leveraging Exosome Diagnostics' proprietary platforms for biomarker discovery for the joint development of new products and for ongoing marketing activities to promote exosome technologies. The extended collaboration and joint product development agreement ends in 2028 and can be extended if mutually agreed to by both companies.
"QIAGEN is an ideal partner to co-market and co-develop products leveraging our proprietary exosome technology," commented Chuck Kummeth, President and Chief Executive Officer of Bio-Techne. "We are excited to expand our partnership with an established global diagnostics leader and anticipate both companies as well as current and future biopharma partners to benefit from the expanded agreement."
"Bio-Techne's exosome technology represents a novel diagnostic approach with broad applications that will be especially beneficial to our global pharma partners," said Thierry Bernard, Chief Executive Officer of QIAGEN. "We see numerous applications for this technology and remain enthusiastic on its potential. We look forward to co-marketing this technology and collaborating on innovative companion diagnostic products for our global biopharma partners."
About Bio-Techne Corporation (NASDAQ: TECH)
Contact: David Clair, Senior Director, Investor Relations & Corporate Development