Bio-Techne Corporation TECH has made a major breakthrough for its Asia business through its recently-formed alliance in China. The company announced that it has entered into a strategic cooperation agreement with Micropoint Bioscience of Shenzhen, China.
Micropoint Bioscience is a publicly-traded Chinese enterprise that has developed a microfluidic diagnostic chip for point-of-care (POC) testing. While POC plays a significant role in healthcare by accelerating diagnosis and administration of treatment, the microfluidic diagnostic chip by Micropoint Bioscience helps improve POC testing by shrinking tests so that only minimal volumes of samples and reagents are required.
Per Bio-Techne, this collaboration is a perfect strategic fit as this will further strengthen the integration of microfluidic technology needed for more accurate POC diagnostic tools for precision medicine in the emerging geographies like China.
The companyisa leading developer and manufacturer of high quality purified proteins and reagent solutions, namely cytokines. It expects to derive obvious synergies out of this alliance. Diagnostic decisions by the company are increasingly being driven by cytokine- and growth factor-related profiles in circulating body fluids. This requires a testing platform that can accommodate more complex biomarker signatures. And according to Bio-Techne, it is necessary to expand test options, which require access to high-quality reagents to address the growing emerging diagnostic market needs.
Firm Asian Footprint
Notably, in Asia, Bio-Techne is registering a strong foothold over the past few quarters. Last fiscal in China, the company reported approximate growth of 20%. Meanwhile, the rest of Asia led by Korea and Japan grew in the mid-teens. Another rapidly emerging country, India, has now become a legal entity for the company and Bio-Techne is fast hiring hands to capitalize on this growing opportunity in the region.
Although this major biotechnology company is speedily fortifying its position globally, the company might still face challenges posed by bigger players like Bio-Rad Laboratories, Inc. BIO and Merck & Co., Inc. MRK in the market.
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