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NEW YORK ─ Bio-Techne after the close of the market on Wednesday announced that it is acquiring molecular diagnostics firm Asuragen for an initial payment of $215 million in cash and up to $105 million contingent upon Asuragen meeting future milestones.

Minneapolis-based Bio-Techne said it will finance the transaction with cash on hand as well as an existing revolving line of credit, and it anticipates closing the deal in its fiscal fourth quarter, which ends in June.

Asuragen booked revenues of more than $30 million in 2020, Bio-Techne said.

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