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BIO-TECHNE FILES PATENT INFRINGEMENT LAWSUIT AGAINST MOLECULAR INSTRUMENTS Bio-Techne Corporation (NASDAQ: TECH), a global life sciences company providing innovative tools and bioactive reagents for the research and clinical ...

Key Takeaway: Bio-Techne Corporation has filed a patent infringement lawsuit against Molecular Instruments in the Unified Patent Court in Europe. The lawsuit claims that Molecular Instruments' HCR 3.0 technology infringes Bio-Techne's RNAscope patented technology. Bio-Techne aims to seek damages and an injunction to stop the infringement in European markets. The company emphasizes its leadership in the space and commitment to defending its intellectual property.
Price reaction · baseline $62.8 (2024-04-22 close) · hit after-hours · 1 other TECH headline(s) in the window, move may be shared
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Market Sentiment Analysis

POSITIVE FACTORS

  • Bio-Techne is a leader in spatial biology and has a strong portfolio of patents.
  • The company has made substantial investments to enhance its technology offerings.
  • RNAscope technology is highly regarded and has a large number of peer-reviewed publications.

CONCERNS & RISKS

  • The legal action indicates potential disputes that could hinder business relationships.
  • The lawsuit could lead to lengthy legal battles that may distract from business focus.

Full Press Release Details

Bio-Techne enforces intellectual property for gold standard RNAscope® ISH technology in spatial biology research and clinical applications.
MINNEAPOLIS , April 23, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH ), a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities, today announced that it has taken legal action in the Unified Patent Court in Europe to halt the infringement of its patented RNAscope® ISH technology by Molecular Instruments, Inc.
Bio-Techne, under its Advanced Cell Diagnostics (ACD) brand, owns patents covering numerous features of its RNAscope technology. Bio-Techne is a pioneer in spatial biology, with its broad portfolio of over 50,000 unique RNAscope in situ hybridization (ISH) probes across over 400 species offering its biopharma and academic customers best-in-class single-molecule sensitivity with unrivaled specificity at subcellular resolution. RNAscope is the most referenced technology in the industry, with its rapidly growing portfolio of peer-reviewed publications recently surpassing 10,000.
In its lawsuit filed in the Unified Patent Court (a pan-European forum for resolving patent disputes), in the Netherlands Local Division of the Court of First Instance in The Hague , Bio-Techne alleges that Molecular Instruments' HCR 3.0 technology infringes ACD's European Patents 1,910,572 and 2,500,439. The lawsuit seeks damages and injunctive relief requiring Molecular Instruments to stop infringing ACD's patents in key European markets.
"Bio-Techne has made substantial investments to become the global leader in the rapidly growing spatial biology industry, including the development and application of its RNAscope technology as well as the acquisition of Lunaphore, which added the fully automated, high-throughput, hyperplex COMET platform to the portfolio," said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. "We will continue to diligently monitor the spatial biology industry, as well as all of the areas where we operate, for violators of our intellectual property and vigorously defend our position against any potential offenders."

Frequently Asked Questions

What technology does Bio-Techne enforce patents for?

Bio-Techne enforces patents for its RNAscope® ISH technology.

Who is being sued by Bio-Techne?

Bio-Techne has filed a lawsuit against Molecular Instruments, Inc.

What is the main claim in Bio-Techne's lawsuit?

The lawsuit claims that Molecular Instruments infringes on ACD's patents.

How many RNAscope probes does Bio-Techne offer?

Bio-Techne offers over 50,000 unique RNAscope ISH probes.

What is the purpose of Bio-Techne's legal action?

The legal action seeks to halt patent infringement and obtain damages.

Last updated: Apr 23, 2024