AUSTIN, Texas and MINNEAPOLIS, Oct. 20, 2015 /PRNewswire/ -- Luminex Corporation (NASDAQ: LMNX) and Bio-Techne Corp (NASDAQ: TECH) today announced the signing of a new distribution and supply agreement through 2020. This agreement extends the relationship between the two companies for immunoassay development and commercialization of Bio-Techne biological content using the Luminex testing platform. Furthermore the agreement allows Bio-Techne to distribute Luminex multiplexing instrumentation, including the Luminex™ 200®, FLEXMAP 3D® and the MAGPIX® platforms in major markets worldwide.
"We are very pleased to broaden our relationship with Bio-Techne, a leading global player in the research, diagnostics and clinical controls markets. We believe enabling Bio-Techne to develop assay content and distribute Luminex multiplexing instruments will aid our goal of providing laboratories of all sizes access to multiplexing solutions for a range of applications," said Todd Bennett, VP, Global Sales and Customer Operations, Luminex Corporation. "With its global scope, Bio-Techne is an ideal partner that can ensure our advanced multiplexing solutions reach the right scientists and researchers. This partnership will help accelerate science and improve the efficiency of disease-related research around the world."
"We have been a partner with Luminex for many years and given our strong market position in immunoassay applications, it is logical for Bio-Techne to continue to support our customers with complete customized workflow solutions, including instruments. This is consistent with the Company's strategic direction of providing full solutions in the Life Science research space, including both biological content and instruments," said Gerry Andros, VP of Sales for Bio-Techne Corporation.
Financial terms were not disclosed.
About xMAP-based Instruments
Luminex offers three multiplex instruments enabling laboratories to choose a platform that fits their throughput and flexibility needs. MAGPIX is the simplest, most affordable, and most compact of Luminex's xMAP instruments. This compact multiplexing unit performs up to 50 different tests in a single reaction volume and reads a 96-well plate in just 60 minutes. The Luminex 200 System provides laboratorians the ability to perform up to 100 different tests in a single reaction volume while using either magnetic or polystyrene microspheres. FLEXMAP 3D is the platform of choice for high throughput applications. The platform is capable of simultaneously measuring up to 500 genes or proteins from a small sample. All three xMAP-based instruments run multiplexed assays for both proteins and nucleic acids, whether kit-based or lab-developed.
Learn more about Luminex instruments: www.luminexcorp.com/instruments
About Luminex Corporation
Luminex is committed to applying its passion for innovation toward creating breakthrough solutions to improve health and advance science. The company is transforming global healthcare and life-science research through the development, manufacturing and marketing of proprietary instruments and assays utilizing xMAP® open-architecture multi-analyte platform, MultiCode® real-time polymerase chain reaction (PCR), and multiplex PCR-based technologies, that deliver cost-effective rapid results to clinicians and researchers. Luminex's technologies are commercially available worldwide and in use in leading clinical laboratories, as well as major pharmaceutical, diagnostic, biotechnology and life-science companies. Luminex is meeting the needs of customers in markets as diverse as clinical diagnostics, pharmaceutical drug discovery, biomedical research including genomic and proteomic research, personalized medicine, biodefense research and food safety. For further information on Luminex Corporation and the latest advances in multiplexing using award winning technology, please visit http://www.luminexcorp.com/.
Statements made in this release that express Luminex's or management's intentions, plans, beliefs, expectations or predictions of future events are forward-looking statements. Forward- looking statements in this release include statements regarding the development and testing progress of our pipeline products, including ARIES and related assays, and the regulatory approvals thereof. The words "believe", "expect", "intend", "anticipates", "confident", "will", "could", "should", and similar expressions are intended to further identify such forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company's actual results or performance could differ materially from those anticipated in such forward-looking statements. Factors that could cause Luminex's actual results or performance to differ materially include risks and uncertainties relating to, among others, our ability to launch products on time, the timing of regulatory approvals, the outcome of clinical trials as well as the risks discussed under the heading "Risk Factors" in Luminex's Reports on Forms 10-K and 10-Q, as filed with the Securities and Exchange Commission. The forward looking statements contained herein represent the judgment of Luminex as of the date of this press release, and Luminex expressly disclaims any intent, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Luminex's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
About Bio-Techne Corp
Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities. Bio-Techne products assist scientific investigations into biological processes and the nature and progress of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With thousands of products in its portfolio, Bio-Techne generated approximately $452 million in net sales in fiscal 2015 and has approximately 1,500 employees worldwide. For more information on Bio-Techne and its brands, please visit www.bio-techne.com.
Our press releases may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements involve risks and uncertainties that may affect the actual results of operations. The following important factors, among others, have affected and, in the future, could affect the Company's actual results: the effect of new branding and marketing initiatives, the integration of new leadership, delays or obstacles in integrating acquired companies, the introduction and acceptance of new biotechnology and clinical control products, the levels and particular directions of research by the Company's customers, the impact of the growing number of producers of biotechnology research products and related price competition, general economic conditions, the impact of currency exchange rate fluctuations, and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships. For additional information concerning such factors, see the section titled "Risk Factors" in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements.
CFO and Investor Relations
Luminex Investor Contact
Harriss Currie, 512.219.8020
Sr. Vice President of Finance and CFO
Luminex Media Contact
Christine Valle, 512.219.8020
Sr. Manager, Global Marketing
SOURCE Luminex Corporation; Bio-Techne Corporation