BRIEF—Bio-Techne to acquire Quad Technologies

In a second M&A deal this year, USA-based purified protein maker Bio-Techne says it has reached agreement to acquire all of the stock of QT Holdings Corporation d/b/a Quad Technologies.

The transaction, financial terms of which are not disclosed, is expected to close in early July and to be financed through available cash on hand.

"We are extremely excited to welcome Quad Technologies and its line of advanced reagents to Bio-Techne," commented Charles Kummeth, president and chief executive of Bio-Techne.

"We are confident that the novel, releasable, customizable, non-magnetic, QuickGel technologies, offered by Quad Technologies for cell separation and activation, represent a breakthrough in process improvements for clinical grade cell and gene therapy applications as well as for research use."

Quad Technologies has developed QuickGel microparticles that are easily modifiable with antibodies and can serve as the substrate for traditional "bead-based" separation and cell activation with the added benefit of being able to quickly dissolve them after use.

Quad Technologies' foundational QuickGel technology consists of a biocompatible dissolvable polymer which, when functionalized with the proper antibodies, can be used to enrich specific cell populations as well as to activate such cells with traditional cell surface cross-linking ligands.

These products are ideal in the CAR-T/TCR and other gene-modified cell therapy process where there is high value placed on cell purity and functionality.

In January, Bio-Techne acquired all of the stock of Atlanta Biologicals and its affiliated company, Scientific Ventures.