Bio-Techne's Select FBS Product Rights And Inventory Acquired By Gemini Bioproducts

(RTTNews) - Gemini Bioproducts, LLC, a supplier of cell culture reagents and process liquids and healthcare private equity firm BelHealth Investment Partners, LLC announced acquisition of selected Fetal Bovine Serum (FBS) product rights and inventory from from Bio-Techne Corporation (TECH)

Financial terms of the deal have not been disclosed.

The companies expect to effect these transactions on December 3.

Under the agreement, GeminiBio gets the manufacturing and global sales rights for Bio-Techne's Fetal Bovine Serum (FBS) products such as Optima, Premium Select, and Premium.

Chief Executive Officer Brian Parker says "With the addition of the Optima, Premium Select, and Premium product brands, GeminiBio strengthens its market position, providing customers with expanded options and enhanced supply chain security."

TECH is currently trading at 3.20% higher at $73.56 on the Nasdaq.