Bio-Techne Corporation (NASDAQ: TECH) announced today that it has acquired all of the stock of Trevigen Inc. for cash. The transaction is financed through available cash on hand.

    Charles R. Kummeth, President and Chief Executive Officer of Bio-Techne, commented, “We are pleased to have Trevigen as part of Bio-Techne Corporation. We are very familiar with the Trevigen product line, having sold it for many years. The Trevigen products complement our current product portfolio and make it easier to reach customers interested in products to better understand cell behavior and genotoxic events on cells. Having tools to study DNA damage and the apoptotic cell process is an important aspect of understanding drug action. As more drug testing is being conducted on physiologically more appropriate cell models, including 3D cell cultures, having membrane extracts products to support the robust growth of such cells, such as the Cultrex product line, makes these products an important addition to the Bio-Techne product line.”

    Trevigen President Michael Elliott added, “We believe there is a good strategic fit between the two companies given that both companies share the passion to empower cutting-edge science with quality reagents. We have had long-standing business relationship with Bio-Techne and we are pleased to have found a partner committed to providing the research community with high quality products and customer service. Having a broader array of products will both serve our customers more efficiently, as well as provide additional channels for our products in the global market.”

    Trevigen was founded in 1992 by scientist and entrepreneur Dr. Jack Chirikjian and Michael Elliott, and is located in Gaithersburg, Maryland. The acquisition is expected to be accretive to Bio-Techne’s adjusted earnings per share for its fiscal year 2018.

    Fredrikson & Byron, P.A. is serving as Bio-Techne’s legal counsel. Crosstree Capital Partners Inc. acted as financial advisor to Trevigen. Miles & Stockbrige P.C. served as legal counsel to Trevigen.

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