<SEC-DOCUMENT>0001193125-14-130702.txt : 20140404
<SEC-HEADER>0001193125-14-130702.hdr.sgml : 20140404
<ACCEPTANCE-DATETIME>20140404080054
ACCESSION NUMBER:		0001193125-14-130702
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140401
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140404
DATE AS OF CHANGE:		20140404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TECHNE CORP /MN/
		CENTRAL INDEX KEY:			0000842023
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				411427402
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17272
		FILM NUMBER:		14744405

	BUSINESS ADDRESS:	
		STREET 1:		614 MCKINLEY PL N E
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413
		BUSINESS PHONE:		6123798854

	MAIL ADDRESS:	
		STREET 1:		614 MCKINLEY PLACE NE
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d706924d8k.htm
<DESCRIPTION>8-K
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<HTML><HEAD>
<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): April&nbsp;1, 2014 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>TECHNE CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Minnesota</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>0-17272</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>41-1427402</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification Number)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>614 McKinley Place NE</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Minneapolis, MN</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>55413</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(612) 379-8854 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s Telephone Number, Including Area Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
Name or Former Address, if Changed Since Last Report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.01 Entry Into a Material Definitive Agreement. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On April&nbsp;1, 2014, Techne Corporation (the &#147;<U>Company</U>&#148;), Research and Diagnostic Systems, Inc. (&#147;<U>R&amp;D</U>&#148;),
a Minnesota corporation and wholly-owned subsidiary of the Company, and Cayenne Merger Sub, Inc. (&#147;<U>Merger Sub</U>&#148;), a Delaware corporation and wholly-owned subsidiary of R&amp;D, entered into an Agreement of Investment and Merger (the
&#147;<U>Agreement</U>&#148;) with CyVek, Inc., a Delaware corporation (&#147;<U>CyVek</U>&#148;), and Citron Capital Limited, as Stockholders&#146; Agent. Pursuant to the terms of the Agreement, on April&nbsp;2, 2014, R&amp;D invested
$10&nbsp;million in CyVek and received shares of Common Stock representing 19.99% of the outstanding voting stock of CyVek. In connection with this investment, R&amp;D became a party to CyVek&#146;s existing investor agreements and will have an
observer seat on CyVek&#146;s Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If, within 12 months of the date of the Agreement (subject to a 90 day extension in the
discretion of R&amp;D), CyVek meets commercial milestones related to the sale, lease or license of its CyPlex analyzer product to at least 10 separate customers and the sale of at least 500 of its CyPlex cartridges, R&amp;D will acquire CyVek
through the merger of Merger Sub with and into CyVek, with CyVek surviving the merger as a wholly-owned subsidiary of R&amp;D (the &#147;<U>Merger</U>&#148;). The Merger is also contingent upon the accuracy of certain representations and warranties
of the parties as of the date of the Merger and other customary closing conditions. The stockholders of CyVek have approved the Merger, and certain stockholders of CyVek have executed agreements to continue to support the Merger and granted proxies
to R&amp;D to vote their shares in favor of the Merger and against alternative proposals. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the Merger is consummated, R&amp;D will make
an initial payment of $60&nbsp;million to the other stockholders of CyVek, of which $6&nbsp;million will be placed in escrow for 15&nbsp;months to secure indemnity obligations of such stockholders. The purchase price payable at the closing of the
Merger may be adjusted based on the final levels of cash, indebtedness and transaction expenses of CyVek as of the closing. R&amp;D will also pay CyVek&#146;s other stockholders up to $35&nbsp;million based on the revenue generated by CyVek&#146;s
products and related products before the date that is 30&nbsp;months from the closing of the Merger, subject to acceleration upon certain change of control and breach of covenant events. R&amp;D will also pay CyVek&#146;s other stockholders 50% of
the amount, if any, by which the revenue from CyVek&#146;s products and related products exceeds $100&nbsp;million in calendar year 2020. Techne and R&amp;D will be subject to certain restrictions on the transfer of the business acquired from CyVek
and related assets until January&nbsp;1, 2021. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Certain CyVek stockholders will be subject to non-solicitation obligations for three years
following the closing of the Merger and non-compete obligations for five years following the closing of the Merger. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This description of
the material terms of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which will be filed as an exhibit to the Company&#146;s Annual Report on Form 10-K for the year
ending June&nbsp;30, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A copy of the press release announcing the investment is filed herewith as Exhibit 99.1. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01 Financial Statements and Exhibits </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Press Release, dated April&nbsp;4, 2014.</TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SIGNATURE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">TECHNE CORPORATION</TD></TR>
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<TD VALIGN="top">Date: April&nbsp;4, 2014</TD>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Charles R. Kummeth</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Charles R. Kummeth</TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="top">President and Chief Executive Officer</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT INDEX </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:37.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit&nbsp;No.</P></TD>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman">Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release, dated April 4, 2014.</TD></TR>
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<TYPE>EX-99.1
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<FILENAME>d706924dex991.htm
<DESCRIPTION>EX-99.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">BIO-TECHNE ANNOUNCES INVESTMENT IN CYVEK, INC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Minneapolis/ April&nbsp;4, 2014/ Techne Corporation (NASDAQ: TECH), d/b/a Bio-Techne, announced today that it has made a $10 million equity investment in
CyVek, Inc. (CyVek), with a commitment to acquire CyVek if certain future milestones are met. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CyVek has developed a transformative immunoassay
technology, CyPlex<SUP STYLE="font-size:85%; vertical-align:top">TM</SUP>, which integrates an innovatively designed microfluidic cartridge with a state-of-the-art analyzer to deliver the most advanced and efficient bench top immunoassay system.
CyPlex&#146;s<SUP STYLE="font-size:85%; vertical-align:top">TM</SUP> ability to provide &#147;sample to answer&#148; test results precisely and quickly in a sealed disposable device makes it a very attractive platform for clinical applications. The
CyPlex<SUP STYLE="font-size:85%; vertical-align:top">TM</SUP> technology has demonstrated broad applicability across numerous sectors, including routine life sciences research applications. Commercial launch will be initially targeted towards
customers who focus on translational research where sensitive, precise, accurate, multi-analyte results from small sample volumes are highly critical. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;CyVek has succeeded in developing a technology that combines unrivaled ease-of-use with extraordinary precision. With its legacy as the world&#146;s
most thoroughly characterized antibody company, Bio-Techne has antibodies and reagents that are a perfect complement to the CyPlex<SUP STYLE="font-size:85%; vertical-align:top">TM</SUP> platform. The combination of Bio-Techne&#146;s content on
CyVek&#146;s multiplex testing platform provides researchers with a powerful tool to develop, validate and test biomarker panels, so as to expedite life sciences research and enable biomarker-based diagnostics,&#148; said Per Hellsund, President and
Chief Executive Officer of CyVek. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are very pleased to have formalized a strong working relationship with CyVek for the testing platform they
have developed. We are confident that being able to deploy Bio-Techne&#146;s reagents on CyVek&#146;s innovative testing platform will translate into a powerful new solution for our customers. These features, in conjunction with the sample
processing automation benefits of the CyVek technology, are sure to deliver valuable benefits to all users of this new technology. Additionally this is consistent with our long term strategy to expand Bio-Techne&#146;s business from being a reagent
supplier to an applied-markets solutions provider,&#148; said Charles Kummeth, Bio-Techne&#146;s CEO. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">About Techne Corporation (d/b/a Bio-Techne) </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Techne Corporation and Subsidiaries (the Company) are engaged in the development, manufacture and sale of biotechnology products and clinical calibrators and
controls. These activities are conducted through the Company&#146;s two operating subsidiaries: Research and Diagnostic Systems, Inc. (R&amp;D Systems) of Minneapolis, Minnesota and R&amp;D Systems Europe, Ltd. (R&amp;D Europe) of Abingdon, England.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">R&amp;D Systems is a specialty manufacturer of biological products. R&amp;D Systems has four subsidiaries: BiosPacific, Inc., located in Emeryville,
California, Boston Biochem, Inc., located in Cambridge, Massachusetts, Bionostics, Inc., operating in Devens, Massachusetts, and R&amp;D Systems China Co. Ltd., located in Shanghai, China. BiosPacific is a worldwide supplier of biologics to
manufacturers of in vitro diagnostic systems and immunodiagnostic kits. Boston Biochem is a leading developer and manufacturer of ubiquitin-related research products. Bionostics is a leading supplier of control solutions used in point-of-care blood
glucose and blood gas testing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">R&amp;D China and R&amp;D Europe distribute the Company&#146;s biotechnology products. R&amp;D Europe has two
subsidiaries: Tocris Holdings Ltd. (Tocris) of Bristol, England and R&amp;D Systems GmbH, a German sales operation. Tocris is a leading supplier of chemical reagents for non-clinical life science research. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-Looking Statements </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements found in this
release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the Company&#146;s current views with respect to future events and financial performance
and include any statement that does not directly relate to a current or historical fact. Forward-looking statements can generally be identified by the words &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate&#148; or &#147;intend&#148; or
similar words.&nbsp;Such statements, including those relating to (i)&nbsp;the commitment to acquire CyVek if certain milestones are met, (ii)&nbsp;the commercial launch of CyVek&#146;s products, (iii)&nbsp;the benefits and prospects of CyVek&#146;s
technology, and (iv)&nbsp;the Company&#146;s long-term strategy, involve risks and uncertainties that may affect actual results.&nbsp;The following important factors, among others, have affected and, in the future, could affect the Company&#146;s
actual results: the success of CyVek&#146;s products and the actual financial results of CyVek, the ability of CyVek to meet future milestones, the satisfaction of other closing conditions to the acquisition of CyVek, the expected benefits of
CyVek&#146;s technology on the Company&#146;s business and operations, the effect of new branding and marketing initiatives, the integration of new leadership, the introduction and acceptance of new biotechnology and hematology products, the levels
and particular directions of research by the Company&#146;s customers, the impact of the growing number of producers of biotechnology research products and related price competition, general economic conditions, the impact of currency exchange rate
fluctuations, and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For additional information concerning such factors, see the section titled &#147;Risk Factors&#148; in the
Company&#146;s annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new
information or future events. Investors are cautioned not to place undue emphasis on these statements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">About CyVek </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CyVek is a privately funded biotechnology company dedicated to the advancement of healthcare by empowering researchers and clinicians with a disruptive
technology for performing multi-analyte immunoassays.&nbsp;CyVek&#146;s CyPlex&#153; is a versatile platform that can be quickly and easily configured for diverse applications, such as rapid diagnostic tests, multi-sample multi-analyte tests, or
routine ELISA-like tests, for use in both research and clinical settings.&nbsp;For more information about CyVek, please call 203-679-0395 or visit us on the web at www.cyvek.com. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bio-Techne Contact: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Charles Kummeth </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chief Executive Officer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(612) 379-8854 </P>
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