Bio-Techne And Astute Medical Form Strategic Partnership

MINNEAPOLIS and SAN DIEGO, Dec. 14, 2016

"Strengthening our presence in the diagnostic market remains a natural fit and strategic priority for Bio-Techne," said Chuck Kummeth, President and Chief Executive Officer of Bio-Techne. "Bio-Techne's current diagnostic revenues are largely derived through OEM manufacturing and reagent supply relationships with many of the largest diagnostic brands. Creating greater value by participating in end customer sales remains a focus for Bio-Techne. The Astute Medical collaboration enhances Bio-Techne's exposure to end customer sales, expanding its market reach, growing its expertise and knowledge of the fast-moving diagnostics field, and at the same time developing and providing key biological reagents as critical components in new diagnostic tests." 

Founded in 2007, Astute Medical has developed and obtained U.S. regulatory clearance and CE marking for the NEPHROCHECK® Test, which assesses the risk of moderate to severe acute kidney injury in hospitalized patients. The novel, proprietary test could revolutionize medical practice since acute kidney injury is a substantial source of excess medical care costs associated with a broad spectrum of conditions, including sepsis and post-surgical complications.¹ The NEPHROCHECK Test is currently available in the U.S. and Europe on the Company's ASTUTE140 Meter and through commercial partners. The NEPHROCHECK Test may also become available on higher throughput testing platforms. Chris Hibberd, CEO at Astute Medical, stated: "This is a wonderful collaboration that promises to deliver considerable leverage to both companies. The NEPHROCHECK Test is gaining market traction, and we look forward leveraging Bio-Techne's world-class reagent library and manufacturing capabilities as we continue to bring innovative high-value tests to the diagnostic market."

ABOUT ASTUTE MEDICAL, INC.:

Astute Medical is devoted to improving patient healthcare outcomes through the identification and validation of novel biomarkers. The company's focus is community and hospital-acquired acute conditions that require rapid diagnosis and risk assessment. Astute Medical's current areas of interest include abdominal pain, acute coronary syndromes, cerebrovascular injury, kidney injury and sepsis. 

Astute Medical has developed the NEPHROCHECK Test for use in determining whether a hospitalized patient is at risk of developing moderate to severe AKI in the 12 hours following test administration. Early knowledge that a patient is likely to develop AKI may prompt closer patient surveillance and help prevent permanent kidney damage or death. The company is a founding corporate partner of 0by25, a human rights initiative aimed at eliminating preventable and treatable deaths from AKI worldwide by 2025. Astute Medical's NEPHROCHECK Test received 510(k)-clearance through the FDA's de novo classification. The test is CE-marked and available in Europe. For additional information, please visit www.AstuteMedical.com.