Bio-Techne Divests Exosome Diagnostics to Reposition Product Portfolio

Bio-Techne Corporation (Minneapolis, MN, USA) has entered into an agreement with Mdxhealth SA (Irvine, CA, USA), which will acquire its Exosome Diagnostics Inc. (Waltham, MA, US) business, including the ExoDx Prostate (EPI) test, CLIA-certified clinical laboratory, and related assets. Bio-Techne will retain access to the proprietary exosome-based technology for ongoing kit development in its precision diagnostics growth pillar.

"Mdxhealth is the ideal acquirer of our ExoDx Prostate test and CLIA-certified laboratory," said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. "Mdxhealth has made several strategic moves over the past few years to position the company as a leader in urology and prostate cancer diagnostics. The addition of ExoDx Prostate to their portfolio accelerates their leadership in this market."

"Following this transaction, Bio-Techne will strengthen its foundation as a developer of innovative, high-value, high-margin products, tools, and reagents for the life science research and clinical diagnostics markets. This repositioning of the portfolio enables Bio-Techne to direct additional investments to further strengthen this foundation, while creating an immediate uplift to our sector-leading operating margin profile," added Kelderman.

"ExoDx Prostate is a strong strategic fit with our rapidly growing urology and prostate cancer diagnostic business," said Michael McGarrity, Chief Executive Officer of Mdxhealth. "The ExoDx Prostate test equips men with information to make better decisions and avoid unnecessary and potentially dangerous prostate biopsies. Bio-Techne has done a tremendous job delivering this necessary information to patients and growing the base of physicians leveraging this tool. We are looking forward to building on this success."

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Bio-Techne Corporation
Exosome Diagnostics Inc.
Mdxhealth SA