Bio-Techne Completes Investment In Wilson Wolf Manufacturing

Apr 03, 2023•over 2 years ago

MinneapolisTherapeuticsManufacturingBiotechnologyHealth Care

Investors

Bio TechneBio Techne Corporation

Description

Bio-Techne Corporation (NASDAQ: TECH) today announced it has completed its investment in Wilson Wolf Manufacturing. Wilson Wolf achieved the trailing 12-month earnings before interest, taxes, depreciation, and amortization (EBITDA) target of $55 million, triggering Bio-Techne's initial investment in the company. Bio-Techne's $257 million investment gives the Company a 20% ownership stake in Wilson Wolf. The agreement includes the right to acquire the remaining ownership in Wilson Wolf for $1 billion upon its achievement of $226 million in trailing 12-month revenue or $136 million in EBITDA

Company Information

Company

Wilson Wolf Manufacturing

Location

Minneapolis, Minnesota, United States

About

Wilson Wolf, headquartered in St. Paul, Minnesota, is an innovative leader in the development, and manufacture of cell production technology for use in the groundbreaking healthcare field of Cell and Gene Therapy (CGT). Wilson Wolf's proprietary Gas Permeable Rapid Expansion cell production products (called "G-Rex®") are the only products that provide immune cells with the ideal amount of oxygen and nutrients required for cell proliferation, which results in highly capable cells for clinical applications. G-Rex is widely regarded as the simplest and most efficient technology for the creation of immune cells and is used by over 800 CGT market participants. In 2020, Bio-Techne, Wilson Wolf and Fresenius Kabi announced the formation of the ScaleReady™ joint venture, bringing together tools and technologies for cell culture, cell activation, gene editing and cell processing. ScaleReady is empowering the field of gene therapy by delivering a simple scalable and versatile manufacturing platform for cell and gene therapies.

Related People

2 contacts

Funding Insights

Based on industry data

VC-backed spending patterns