The deal also includes contingent consideration payment of $75m based on the achievement of several milestones.

Bio-Techne said the latest deal represents the ninth acquisition for the company in the last three years and expanded its global reach with subsidiaries in every major geographic market.

The company has increased its employees from 650 in 2013 to around 1,700 staff across the globe with the acquisitions.

Established in 2006, ACD is involved in the development of molecular pathology applications, including cell and tissue-based diagnostic tests for personalized medicine.

The firm offers proprietary consumables for genomic analysis and RNA in-situ hybridization technology under the RNAscope brand name.

RNAscope is a patent protected target hybridization and signal amplification technology that will help to detect single RNA molecules in single cells.

ACD reagents will be used in multiple diagnostic and companion diagnostic applications. It produces around 9,000 probe reagents and reagent kits for manual and automated use.

The firm also works with pharmaceutical and biotechnology firms to validate biomarkers for targeted therapeutic development.

At the time of signing acquisition agreement, Bio-Techne president and CEO Charles Kummeth said: "We are very pleased to have ACD as part of Bio-Techne Corporation. First of all, ACD marks Bio-Techne's entry into the genomics field and market.”

Bio-Techne produces purified proteins such as cytokines and growth factors, as well as antibodies, immunoassays and biologically active small molecule compounds.

Image: ACD produces cell and tissue-based diagnostic tests for personalized medicine. Photo: courtesy of Suwit Ritjaroon /