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Bio-Techne acquires gene engineering startup B-MoGen

Minneapolis-based Bio-Techne Corp. acquired B-MoGen Biotechnologies Inc. to strengthen its pipeline of cell and gene therapy offerings.

Terms of the deal were not disclosed, but Bio-Techne said it financed the acquisition with cash on hand.

B-MoGen Biotechnologies was founded in 2015 as a startup out of the University of Minnesota and has about 20 employees. The private company focuses on gene engineering, editing and delivery tools.

The transaction will help commercialize B-MoGen's technology using Bio-Techne's resources.

Bio-Techne is a life sciences company with products for cell and gene therapy applications.

Fredrikson & Byron PA is acting as Bio-Techne's legal counsel, while Dorsey & Whitney LLP is serving as legal counsel to B-MoGen.