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Bio-Techne closes $43M equity investment in Astute Medical

Bio-Techne Corp. made a $43 million equity investment in medical diagnostics company Astute Medical Inc.

The financing gives Bio-Techne certain manufacturing rights for future products and royalties on diagnostic tests containing Bio-Techne reagents. In exchange, Astute gains access to Bio-Techne's extensive libraries of antibodies and proteins to develop new diagnostic methodologies.

The investment was made as part of Bio-Techne's long-term plan to further its presence in the branded diagnostic market.