On September 17, 2020 Bio-Techne Corporation (NASDAQ: TECH) and QIAGEN N.V. reported the expansion and extension of a non-exclusive partnership to co-market exosome technology to existing and potential biopharma partners as well as the joint development of new exosome based products (Press release, Bio-Techne, SEP 17, 2020, View Source [SID1234565272]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The agreement grants QIAGEN a non-exclusive development license to Bio-Techne’s exosome technology for the development of companion in vitro diagnostic products (CDX-IVD) for existing and potential biopharma partners. Following the agreement, both Bio-Techne and QIAGEN will be actively promoting the use of exosome technology to their respective global biopharma partners. The initial phase of the co-marketing agreement lasts 24 months, with the potential to extend longer upon the fulfillment of certain conditions.

The two companies also announced the extension and expansion of the existing exclusive collaboration and license agreement that was originally in place between Exosome Diagnostics (now a Bio-Techne company) and QIAGEN. The agreement includes leveraging Exosome Diagnostics’ proprietary platforms for biomarker discovery for the joint development of new products and for ongoing marketing activities to promote exosome technologies. The extended collaboration and joint product development agreement ends in 2028 and can be extended if mutually agreed to by both companies.

"QIAGEN is an ideal partner to co-market and co-develop products leveraging our proprietary exosome technology," commented Chuck Kummeth, President and Chief Executive Officer of Bio-Techne. "We are excited to expand our partnership with an established global diagnostics leader and anticipate both companies as well as current and future biopharma partners to benefit from the expanded agreement."

"Bio-Techne’s exosome technology represents a novel diagnostic approach with broad applications that will be especially beneficial to our global pharma partners," said Thierry Bernard, Chief Executive Officer of QIAGEN. "We see numerous applications for this technology and remain enthusiastic on its potential. We look forward to co-marketing this technology and collaborating on innovative companion diagnostic products for our global biopharma partners."