Bio-Techne (TECH) 2024年CSR報告「NASDAQ」.pdf

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1、Corporate Sustainability Report https:/ of ContentsINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEXLetter from our CEOLetter from our CSOESG PillarsAbout UsPrioritiesOur StakeholdersOur EPIC CultureGrowth&DevelopmentEmployee Engagem

2、entBenefits at Bio-TechneDiversity&InclusionOur CommitmentsSocietal ImpactOur FacilitiesInvestments&InnovationProduct DesignResponsible SourcingScaling UpSustainability GovernanceCorporate GovernanceOur BoardRisk Management&OversightData Security&PrivacyEthics&ComplianceOur CommitmentEmissions DataE

3、coVadis AssessmentEnvironmental ActionsSite SpotlightsThe Sustainability Accounting Standards Board IndexTask Force on Climate-Related Financial Disclosures Index2349121417202223242832353640424345464850515357586162667374INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIR

4、ONMENTSASB STANDARDS INDEXTCFD INDEX12024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTKim KeldermanFollowing six successful years leading Bio-Technes Diagnostics&Genomics Segment,I was appointed as President&Chief Executive Officer of the Company effective February 1,2024.It is truly an honor to lead

5、Bio-Technes global team on our mission to improve the quality of life by catalyzing advances in science and medicine.Following my appointment as CEO,I am even more confident in our long-term strategic vision,and the teams ability to capitalize on the tremendous opportunity in front of the Company.De

6、spite an evolving macroenvironment and a dynamic life science industry,the Bio-Techne team delivered 1%organic growth and revenue approached$1.2 billion in our fiscal 2024.This peer-leading result was achieved through strong positioning across our four growth pillars,namely cell&gene therapy,proteom

7、ic analytical tools,spatial biology,and molecular diagnostics.We delivered this performance with a continued focus on durable,profitable growth,achieving an adjusted operating margin of 32.1%for the fiscal year.GAAP earnings per share were$1.05 for the fiscal year,while adjusted EPS was$1.77 per dil

8、uted share.We also returned$130 million in capital to our shareholders through$50 million in dividends and$80 million in share buybacks.As you will see in the coming pages,we also made significant progress positioning Bio-Techne for a sustainable future,and our EPIC values remain the guiding force p

9、ropelling the Company forward on this front.At Bio-Techne,EPIC stands for Empowerment,Passion,Innovation and Collaboration;this mantra is how our employees approach their roles and provides the backbone for our drive for constant improvement across the organization.We have documented and,when possib

10、le,quantified our progress furthering the four pillars that support our sustainability initiatives throughout this,our fourth,Corporate Sustainability Report.Thanks,President&CEO,Bio-TechneLetter from our CEOFY24 REVENUE$1.159BORGANIC REVENUE GROWTH1%ADJUSTED NET EARNINGS$285MKim KeldermanCEOIt is t

11、ruly an honor to lead Bio-Technes global team on our mission to improve the quality of life by catalyzing advances in science and medicine.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX22024 BIO-TECHNE CORPORATE SUSTAINABILITY REP

12、ORTShane BohnenAt Bio-Techne,our mission is to improve the quality of life by catalyzing advances in science and medicine.We achieve this mission not only through our differentiated,trusted,quality products but also through our leadership in industry in how we develop our people,support our communit

13、ies,and advance our mission to become a more sustainable company.The last year since publishing our 2023 Corporate Sustainability Report proved to be one of Bio-Technes most consequential.After a rigorous process spanning eighteen months,Bio-Technes Board selected and appointed Kim Kelderman as CEO.

14、In addition to successfully selecting a new CEO,our Board appointed the deeply qualified and experienced new director Dr.Judith Klimovsky.These exciting new appointments were tempered by having to say goodbye and wish a happy retirement to our former CEO Chuck Kummeth and outgoing director with 34 y

15、ears service,Dr.Randy Steer.I am especially proud of the significant progress made on our sustainability journey.While weve detailed our progress across our Four Pillars in this fourth Corporate Sustainability Report,Id like to highlight the following achievements:CSOLetter from our CSOWe submitted

16、a letter of commitment to reduce our Scope 1,2 and 3 greenhouse gas emissions,to be validated by the Science Based Targets Initiative(SBTi)in 2026.We hired a Director of Sustainability to spearhead,coordinate,and oversee our sustainability efforts across the business.The sustainability director repo

17、rts to me,works and leads across the enterprise,and manages the operation of the Sustainability Working Group,a multi-disciplinary team of leaders responsible for executing our sustainability strategy.We completed our first EcoVadis sustainability assessment to evaluate our performance in environmen

18、t,labor and human rights,ethics and sustainable procurement,and earned a Bronze Medal with a score of 57.We are finalizing completion of a priority assessment,evaluating both financial materiality and impact materiality,to prepare for upcoming required compliance with the European Unions Corporate S

19、ustainability Reporting Directive.We committed to supporting the United Nations Global Compact,a voluntary initiative to implement universal sustainability principles,and we joined as a participant in July 2024.An Introduction from Shane Bohnen,Chief Sustainability Officer,General Counsel,and Corpor

20、ate SecretaryINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX32024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTOur PeopleGovernance&Operational IntegrityAdvancing ScienceThe EnvironmentESG PillarsOur Corporate Sustainability Report(CS

21、R)is organized around four key pillars:Our People,Our Commitment to Advancing Science,Governance and Operational Integrity,and Our Commitment to the Environment.We have made considerable progress since our inaugural CSR report in 2020,and are proud to offer this annual update on our accomplishments

22、and future plans with respect to our four pillars.We remain focused and committed to cultivating growth in a responsible manner,supporting our employees and the communities they work and live in,and leveraging our deep scientific capabilities to deliver the products necessary to enable the discoveri

23、es necessary to develop and advance the next-generation therapeutics,vaccines and diagnostics that improve global healthcare.Environmental,Social&Governance PillarsPILLAR ONEPILLAR THREEPILLAR TWOPILLAR FOURINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB ST

24、ANDARDS INDEXTCFD INDEX42024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTEverything starts with Pillar One,Our People.Without our dedicated,passionate,and innovative Bio-Techne team members we could not develop the tools that academic,medical,and biopharma researchers rely on every day to push science

25、 forward.We have grown the Bio-Techne team from 780 employees in fiscal 2013 to approximately 3,100 at the end of fiscal 2024.Bio-Techne supports the diverse background and interests of our team members through 11 Employee Resource Groups(ERGs),including ERGs supporting our LGBTQ+,Asian Pacific Isla

26、nder,and Black employees as well as a number of groups supporting a variety of interests and cultural backgrounds,from career development to mentorship.We remain proud of Bio-Technes inclusion on the Forbes 2022 list of Americas Best Mid-Size Employers and Forbes 2022 list of Best Employers for Dive

27、rsity,and have continued to invest in our employees and innovate how to engage more deeply and enrich our strong culture.Our PeopleESG PillarsPILLAR ONEINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX52024 BIO-TECHNE CORPORATE SUSTA

28、INABILITY REPORTAdvancing ScienceBio-Techne has a 48 year history developing innovative and cutting edge tools to advance biopharmaceutical and academic scientific discoveries as well as technologies to enable and improve disease diagnosis.Our second pillar,Our Commitment to Advancing Science,goes b

29、eyond developing the products the scientific community needs to drive discoveries,to delivery of these products with a focus on sustainability,quality,responsible sourcing,and a commitment to continuously improve how we package these products to minimize our environmental footprint.In fiscal 2024 we

30、 bolstered our product portfolio by commercializing almost 800 new products to the scientific community,adding to our catalogue of 1,000,000 unique product SKUs.This commitment to advancing science is evident in our growing portfolio of reagents,instruments,technologies,solutions and services to imp

31、rove medical research and the development of cutting-edge therapies and diagnostics.We opened a new 52,000 square foot facility in Wallingford,Connecticut,doubling our operational footprint to provide a five-fold increase in Ella immunoassay cartridge production capacity.800 New ProductsESG PillarsP

32、ILLAR TWOOur Commitment toINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX62024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTGovernance&Operational IntegrityOur third pillar,Governance and Operational Integrity,reflects the commitment

33、of our Board and employees to ethically oversee and run the business,while effectively managing both internal and customer data,minimizing enterprise risk and ensuring that our suppliers are conducting their businesses ethically and in compliance with applicable laws.Our Board oversees Bio-Technes s

34、trategy and risk management initiatives through regular meetings and engagement with the executive leadership team as well as through four Board Committees comprised entirely of independent directors.The Sustainability Oversight Council of executive leaders and Sustainability Working Group of functi

35、onal leaders executes on the sustainability strategy and reports on progress.ESG PillarsPILLAR THREEINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX72024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTWe have made great progress toward u

36、nderstanding and reducing our impact on the environment.This year we conducted a priority assessment to evaluate those topics material to our business and our impact,and submitted a letter of commitment to reduce our Scope 1,2 and 3 greenhouse gas emissions,to be validated by the Science Based Targe

37、ts Initiative(SBTi)in 2026.We signed on as a supporter of the United Nations Global Compact and completed our first EcoVadis sustainability assessment,earning a Bronze Medal.We continue to mature in our sustainability data collection,analysis and reporting,and are committed to lowering the environme

38、ntal footprint of our full value chain.Our Commitment toThe EnvironmentPILLAR FOURESG PillarsINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX82024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTAbout UsPositioned for Sustainable GrowthKi

39、m KeldermanPresident&CEO,Bio-TechneBio-Techne has a strong track record of product innovation and execution,with our team delivering a 12%revenue compound annual growth rate(CAGR)since fiscal 2014.As you will see from this report,our focus goes well beyond generating strong financial results for our

40、 stakeholders.We are focused on delivering these results while improving the communities where we live and work and leveraging our EPIC culture to develop the tools necessary to push science forward.To Bio-Techne,furthering science is not just core to our business,it is one of the many ways we give

41、back to society.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX92024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTAbout UsFY24 Revenue Breakdown($1.2B)Bio-Techne is a leading provider of high-quality reagents and instruments enabling

42、global academic and biopharmaceutical researchers,as well as clinical research laboratories to gain insights into the nature,diagnosis and progression of specific diseases.Our products are important components of the drug discovery and production processes and provide the means for accurate clinical

43、 tests and diagnoses.Bio-Techne operates in two segments;our Protein Sciences Segment includes our research reagent portfolio and analytical tools,while our Diagnostics,Genomics,and Spatial Segment includes our spatial biology,molecular diagnostics and diagnostic reagents businesses.In fiscal 2024,o

44、ur portfolio of proteomic research reagents and analytical tools,and diagnostic and genomic solutions generated approximately$1.2 billion in revenue with approximately 3,100 employees globally.72%Protein Sciences Segment28%Diagnostics&Genomics SegmentSegments&Product End Markets Markets GeographiesS

45、patial Biology11%6%12%DistributorsDiagnosticsAcademia21%57%3%25%6%9%USARest of WorldEMEA TotalAPACChinaUK=4%Other EMEA=21%Excluding China17%50%12%Pharma/Biotech24%6%42%Liquid Biopsy&MDXProteomic Analytical InstrumentsCell&Gene TherapyCoreCoreINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIO

46、NAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX102024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTGlobalHeadquartersMinneapolis,United StatesEuropeanHeadquartersAbingdon,United KingdomChinaHeadquartersShanghai,ChinaEuropeAsia North AmericaMinneapolis,MNSt.Paul,MNEmeryville,CANewark,CASan Jo

47、se,CAAbingdon,UK Bristol,UK(2)Dublin,Ireland Milan,Italy Budapest,HungarySan Marcos,CA(2)Denver,COAustin,TXAtlanta,GAWallingford,CTDevens,MAWaltham,MAOttawa,CanadaToronto,CanadaRennes,France Massy,France Weisbaden,Germany Tolochenaz,Switzerland Shanghai,China(4)Beijing,China Osaka,Japan Pune,IndiaTo

48、kyo,Japan SingaporeGuangzhou,ChinaGwacheon,South Korea Hong Kong,China EuropeAsia North AmericaEMPLOYEES WORLDWIDE3,100LOCATIONS WORLDWIDE38SQUARE FEET1.45MORGANIC REVENUE GROWTH1%About UsOur Global FootprintINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB S

49、TANDARDS INDEXTCFD INDEX112024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTPrioritiesPriority AssessmentPriority TopicsIn 2020,we began our journey to evaluate the sustainability subjects,topics and datapoints which could potentially be relevant to Bio-Techne and its stakeholders.This initial assessme

50、nt resulted in our inaugural CSR which was published in September 2020.This past year,in preparation for our first Corporate Sustainability Reporting Directive(CSRD)reporting through the European Sustainability Reporting Standards(ESRS),Bio-Techne completed a priority assessment to identify the impa

51、cts,risks and opportunities that will inform our business and sustainability strategy.Through a robust process of mapping our value chain,engaging key stakeholders and developing auditable assessment methodology,we identified the issues that influence our business and the impact our business poses o

52、n our planet and society.We will conduct this exercise annually,maturing to more data-driven approaches and including additional stakeholders for inputs,while ensuring the results drive our strategy and focus going forward.In this publication,we have continued to index the contents of our CSR with t

53、he Task Force on Climate-Related Financial Disclosures(TCFD)and the Sustainability Accounting Standards Board(SASB),included at the back of our CSR.PollutionConsumers&End-UsersBusiness ConductBusiness Continuity&Risk ManagementProduct Innovation&TechnologyOwn WorkforceEnvironmentalGovernanceSocialIN

54、TRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX122024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTLife Science Tools IndustryBio-Techne primarily develops,manufactures and commercializes high quality life science tools.This includes re

55、agents and instruments,to enable researchers to gain insights into the nature,diagnosis and progression of specific diseases.The predominant majority of our revenue is generated from sales of products and services to our academic and biopharma customers for research purposes,while a small portion of

56、 our revenue is exposed to Medicare and/or private payor reimbursement.PrioritiesINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX132024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTCUSTOMERSEMPLOYEESBio-Techne leverages several channel

57、s to actively engage with its global employee base.For example,our executive leadership team holds quarterly Town Hall meetings to discuss business trends,human resources updates,Company developments,and quarterly results for each of our segments as well as the corporation as a whole.Bio-Techne also

58、 conducts an annual employee survey,enabling our employees to anonymously provide candid feedback on a wide variety of topics including job satisfaction,transparency of communication,salary and benefits,and the systems and tools in place to perform their jobs.Our latest completed employee engagement

59、 survey included responses from 74%of our employee base,with a strong 77%satisfaction score.Employees engage and share feedback on ESG issues via governance groups including the Sustainability Oversight Council,Sustainability Working Group,and 11 Employee Resource Groups(ERGs).INVESTORSBio-Technes e

60、xecutive leadership team is actively engaged with current and potential investors as well as the analysts that publish research on the Company.In fiscal 2024,this engagement included participation in 19 investor focused conferences,as well as numerous investor engagement calls throughout the year.Ad

61、ditionally,members of our Board of Directors actively participate in investor conversations with our larger shareholders surrounding our philosophy and approach on ESG related topics on at least an annual basis.Our StakeholdersWe engage through direct interaction,our website,surveys,consultation,and

62、 community engagement.Bio-Techne focuses on the customer experience,from the quality of the products our customers purchase to the experience interfacing with the Company through its website,at industry events,and in day to day engagement with our people across our entire enterprise including sales,

63、technical service,quality,and operations.Bio-Techne has made significant investments in our digital marketing efforts,creating a best-in-class website that enables our customers to easily find the products necessary to advance their scientific discoveries and discover products in our portfolio that

64、could be additive to their efforts.Further,we use EcoVadis as a tool to share our sustainability performance with our customers,and participate in ad-hoc engagement on various priority sustainability issues.Bio-Techne Engages with Our StakeholdersINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPE

65、RATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX142024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTCOMMUNITIESGOVERNMENT AGENCIESSUPPLIERSMEDIADISTRIBUTORSINDUSTRY STANDARD SETTING AGENCIESBio-Techne supports and actively contributes to the many diverse communities where we live and wor

66、k,with a focus on promoting science and education.For example,Bio-Techne is a supporter and partner of the Science Museum of Minnesota,helping to bring science events to local schools and the community.Additionally,all employees are encouraged each year to take a day of their working time to join ac

67、tivities in support of good causes in their communities.We engage with the relevant government agencies for audits of our global facilities to ensure compliance with all applicable local laws and standards,and the safety of our global workforce,as well as the privacy of patient,customer and employee

68、 data.Strict compliance with laws and regulations is core to Bio-Technes global approach to business.Bio-Techne works with its suppliers to enable the development,manufacture and commercialization of its expansive portfolio of products.These strategic relationships are a key component of Bio-Technes

69、 operations,and we expect our suppliers to comply with the quality,regulatory,social and environmental principles that guide the Companys own operations.Additional details on Bio-Technes commitment to proactively ensure that its suppliers and distributors act lawfully and responsibly can be found in

70、 its Supplier Code of Conduct.Bio-Techne actively engages with the media as an outlet to educate all stakeholders on Bio-Technes products,business developments and financial results.Our CEO and subject matter experts throughout the Company are frequently contacted to provide insights into various sc

71、ientific and corporate specific developments.We partner with distributors to ensure our products are available in all geographies,particularly certain international areas where Bio-Techne does not have a direct commercial presence.Similar to our approach with suppliers,Bio-Techne is committed to pro

72、actively ensuring that these distributors act lawfully and responsibly.All distributors are required to comply with all applicable laws and regulations and to abide by our Code of Ethics and Business Conduct.We frequently engage with standard setting agencies for external validation of Bio-Technes c

73、ommitment to operating with the highest level of integrity and a focus on quality.For example,a number of our global facilities(see page 41 for a list)have received ISO certifications recognizing our adherence to quality management and environmental standards.Our StakeholdersINTRODUCTIONOUR PEOPLEAD

74、VANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX152024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTMay by Bike with LunaphoreOur PeoplePILLAR ONEOur EPIC CultureGrowth&DevelopmentEmployee EngagementBenefits at Bio-TechneDiversity&InclusionOur Commitments1720

75、22232428INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX162024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTAt Bio-Techne,were committed to creating an employee experience that allows each to achieve their lifes best work.Our EPIC Cult

76、ureOur CultureThis is demonstrated by leading with our EPIC values of Empowerment,Passion,Innovation and Collaboration.We continuously build on our people-first culture,led by uncompromising integrity,hosting a place of belonging,granting access to innovation and respecting human rights around the g

77、lobe.In a year that brought global talent acquisition,engagement and retention challenges,we worked hard to care for our employees and continue to build the team necessary to drive our long-term strategy forward.At Bio-Techne,we invest in inclusion and diversity by supporting 11 Employee Resource Gr

78、oups(ERGs)that positively impact our employees and the communities we serve.We transparently communicate with our employees through quarterly all-hands meetings,executive-led round table discussions,a quarterly newsletter to connect our employees across the globe,executive site visits and targeted m

79、essages from our CEO.As we look to our future talent goals,Bio-Techne has focused on the following priorities to deepen and enrich the team member experience:seed a future talent pipeline;fortify our culture through an environment of belonging;co-create recruiting strategies;integrate learning and d

80、evelopment access and habits;and optimize and automate talent systems.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX172024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTEMPOWERMENTEmpowerment is a driving force at Bio-Techne.We empowe

81、r employees to grow professionally and personally.Empowered employees take ownership and pride in their work and are willing to go the extra mile for the Company,their teams,and our customers.Giving everyone control over their own career is an investment in people and it speaks loudly to our EPIC va

82、lue of Empowerment.PASSION Creation fosters excitement about the possibilities that can be achieved by allowing employees to express themselves through the development of tools.Our employees create tools for researchers and businesses of all sizes,aiding them in achieving consistent and successful r

83、esults in their products and studies.This passion is what sets Bio-Techne apart from others.INNOVATION Instead of remaining comfortable in the status quo,our employees are encouraged to imagine the possibilities,take bold risks,and work hard to turn vision into reality.From brilliant new ideas to re

84、thinking current processes and systems,we meet the expanding needs of scientific discovery by celebrating ingenuity.COLLABORATIONOur culture supports and encourages a collaborative approach to working with one another and with our customers.We activate as a team,remain focused,and solve the problems

85、 at hand to achieve more than we initially believe is possible.Together,we aspire to create something special,with employees embracing the responsibility of being stewards of the business and appropriately valuing their roles in delighting our customers.Our EPIC CultureOur EPIC PeopleAt Bio-Techne w

86、e improve the quality of life by catalyzing advances in science and medicine.In pursuit of our mission,our people embody and enrich our culture of Empowerment,Passion,Innovation,and Collaboration.Employees are recognized and rewarded through annual corporate awards,quarterly team recognition and a c

87、ulture of celebrating EPIC behaviors.We believe EPIC guides the development and growth of our people,evidenced by the inclusion in our annual performance appraisals and goals.Bio-Techne Diagnostics Division in San Marcos,CAINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE EN

88、VIRONMENTSASB STANDARDS INDEXTCFD INDEX182024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTOur EPIC CultureEmpowerment Award WinnerCollaboration Award WinnerPassion Award WinnerInnovation Award WinnersJill encourages others to come to her with ideas,gives us opportunities to develop our career path,sup

89、ports us with the right tools,and encourages us to try new things.Beths collaborative leadership style is pivotal in the seamless release of last years new products.Beth has provided structure and vision,while remaining adaptable and understanding of her teams varied responsibilities and timelines.N

90、ot only does Francis use his illustrator skills for drawing pathways,processes,and many other scientific illustrations,he uses his skills to draw employees in his caricature style.He does this to brighten your day,to add a smile,and to have a conversation and connection to the people at Bio-Techne.Z

91、ohs dedication to transforming brainstormed ideas into tangible,impactful outcomes has significantly contributed to the success of our team.Zohs efforts allow us to fine-tune our strategy,thus reinforcing our commitment to delivering ongoing value to our customers.This team invented an industry-lead

92、ing podcast with world-renowned scientists as guests,which promoted brand visibility for Bio-Techne and associates us closely with pioneering scientific innovation.Pictured left to right:Alex M.,Zeynep F.,Luke H.EMPOWERMENT PASSION INNOVATION COLLABORATIONJill K.Beth S.Francis R.Zoh T.Back of the Na

93、pkin Team Back of the Napkin PodcastOur EPIC Award WinnersINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX192024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTGROWTH THROUGH ACQUISITIONSWith nineteen acquisitions in the past ten years,B

94、io-Techne has cultivated an integration strategy that begins before we sign a letter of interest.While we seek out differentiated and complementary technology and products to expand our portfolio,it is often the people joining through acquisition who are the true sources of value creation.Our sustai

95、ned growth and profitability have resulted directly Growth&DevelopmentIntegrate&Amplifyfrom our ability to retain and integrate the people who work in the businesses we acquire.Less than a year after Bio-Techne acquired Lunaphore,our spatial biology division has successfully launched a true,end-to-e

96、nd multiomics analysis platform that integrates Bio-Technes existing ACD technology with Lunaphores new automation platform.The integration of these two advanced technologies is a game-changer in the field,providing our customers with the possibility to identify what biological processes are happeni

97、ng for both protein and RNA,on the same tissue sample at the single-cell level.This represents a unique collaboration between product development teams at Bio-Technes spatial biology business located in California and at Switzerland-based Lunaphore.Successfully developing and launching a new product

98、 offering during the integration of an acquisition is testament to the commitment and collaborative focus of teams across the globe.DEVELOPING OUR PEOPLE:NURTURING CAREER GROWTH Bio-Techne cultivates a culture where careers can bloom because we recognize that our business grows as our people grow.Wo

99、rking at Bio-Techne means every employee is valued and challenged.In fiscal 2024,Bio-Technes commitment to internal development plus the tenacity of its talent resulted in more than 350 internal promotions,along with more than 85 lateral moves.In addition to training all employees on the safe,effect

100、ive and compliant operation of our business,we also offer seminars and training on a variety of other topics,such as novel scientific developments,effective work strategies,leading productive meetings and management skills.We invited Helen Tupper,co-founder of Amazing If,an award-winning career deve

101、lopment and coaching company,to speak to employees about taking ownership of their own careers.In addition to Ms.Tuppers program,which was attended by over 260 employees,we offered a variety of other workshops and discussion groups during an intensive week focused on career development.The programs

102、were offered virtually to encourage global attendance.Leadership Visit to LunaphoreWe also empower employees to steer their own careers through a generous tuition reimbursement program and support for continuing education.We believe in paying it forward and that education is the worlds greatest equa

103、lizer,demonstrated by our family member scholarship program granting$250,000 annually.Promotions 352 total*Lateral Moves 86 total*Male 51%180 EmployeesFemale 58%50 EmployeesFemale 48%170 EmployeesMale 41%35 EmployeesNon-Binary 1%2 EmployeesNon-Binary 1%1 Employee*Excluding Temporary&Seasonal Employe

104、esINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX202024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTPILLARS OF LEADERSHIPAn intensive week-long experiential learning program designed to provide relationship-building,problem solving a

105、nd skills development for Bio-Technes people leaders.Grounded in mentorship by executives across the enterprise,Pillars of Leadership challenges each cohort to tackle current obstacles facing the Company,and to develop and defend their solutions.The program provides participants with an unobstructed

106、 view of Bio-Techne,its leaders and its strategy,and reinforces the importance and impact that each Pillars participant has in contributing to our solution-driven culture.The program covers various topics,including Key Skills for Strategic Thinking,Leading Through Uncertainty,Building and Maintainin

107、g Lasting Relationships and Coaching as a Leadership Style.While these topics are important for any leadership development program,what sets Pillars of Leadership apart is its emphasis on humility,generosity and gratitude.The presenters and leaders of the program share their personal histories,inclu

108、ding their challenges and successes,to help participants understand that everyones path is filled with obstacles and diversions.Growth&DevelopmentDevelopment ProgramsBio-Techne has created two distinct development programs aimed at accelerating employee growth and seeding future leadership at all le

109、vels:Pillars of Leadership and Emerging Leaders.They emphasize our value of community and giving back through a build-a-bike project,the importance of building resilience,leveraging mentors and facing challenges head-on.EMERGING LEADERS PROGRAMAimed at managers and supervisors who are early in their

110、 leadership careers,this program is designed to catalyze the transformation of high potential into high performance.Emerging Leaders takes candidates through several exercises including self and peer evaluations,personal coaching,group discussion and development,formal leadership training,and self-p

111、aced practicum.Participants learn from the varied paths of the rest of their cohort while also building the foundation necessary to gain momentum as an impactful contributor.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX212024 BIO

112、-TECHNE CORPORATE SUSTAINABILITY REPORTEmployee EngagementBio-Techne prizes candid,honest feedback and credits its business achievements to cultivating a culture that invites feedback and elevated engagement.We attribute our success in both profitability and growth to the skills,creativity and perse

113、verance of our employees.Employees are encouraged to engage through ERGs,their leaders,the Voices intranet site,Human Resources and,most formally,through the annual engagement survey.We promote candor by enabling our employees to offer anonymous quantitative and qualitative feedback to corporate lea

114、dership.Encouraging employees to share their voice is vital in building open and trusting relationships between them,their team and their leaders.Our culture embraces this and Bio-Techne is committed to providing them with the space and opportunity to communicate how they feel about the employee exp

115、erience.In the most recent Fall 2023 survey,74%of the global workforce participated in the annual engagement survey.Of those responses,77%of the feedback was positive.Following the 2023 engagement survey results,the Company turned its employees feedback to action,taking steps to address common quest

116、ions and concerns,including the following:Improved communication through regular round table discussions with senior leaders.Investment in improved systems and tools to improve employees ability to work efficiently and productively.Investment in an internal communications leader.Expanded eligibility

117、 for and vehicle to deliver long-term incentives.Flexible and hybrid working.Market evaluation of compensation levels.Expanded resources for well-being and mental health.Engagement of consultants in areas of safety and sustainability.Events to engage family and others to understand the mission of Bi

118、o-Techne.Bio-Techne Voices:Our commitment to Listening Leading by ListeningEmployee Engagement2024 Strengths:Celebrate and build on whats going wellI understand how the work I do contributes to Bio-Techne.I know what is expected of me on the job.My manager treats me with respect.2024 Opportunities:D

119、iscuss and evaluate where we might do betterThere is effective communication from senior leaders.There is effective communication between teams/departments within Bio-Techne.Senior leaders at Bio-Techne act upon employee feedback.91%54%50%55%93%94%The snapshot of results below reflects the Companys

120、greatest strengths and areas for improvement presented to leadership following the survey.PromptDistributionINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX222024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTBenefits at Bio-TechneSecur

121、ity for Physical,Mental,&Financial Well-BeingBio-Techne has carefully curated a holistic package of benefits for its employees to ensure they are able to do their lifes best work knowing that they and their families have support and security outside of work.While benefits offerings vary by country a

122、nd territory,benefits in the U.S.and other countries include the full range of health,life,disability and accident insurances,retirement savings plans and financial planning resources,an employee stock purchase plan,employee assistance plan,various types of paid leaves,tuition reimbursement,a schola

123、rship plan and on-site wellness centers.This past year,we implemented a number of improvements to our benefit offerings for U.S.employees,including 12 weeks of paid parental leave,a new digital clinic for joint and muscle care,expanded bereavement leave and improved pet insurance.We were excited to

124、add our very own ExoDx Prostate Test,developed by the team at Exosome Diagnostics,as a covered benefit for employees and their spouses/domestic partners who are enrolled in the Bio-Techne United Healthcare Plan.The ExoDx Prostate Test is a simple,non-invasive urine test that can help you and your do

125、ctor determine the need for a prostate biopsy during the prostate cancer screening process.Mental health resources are provided by an ERP,enhanced by Learn to Live,Health Assured and a new Bio-Balance intranet page guiding employees to additional resources.Yoga at LunaphoreINTRODUCTIONOUR PEOPLEADVA

126、NCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX232024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTWe honor and value our employees rich and varied experience,education,history,expertise and technical prowess.Diverse backgrounds and perspectives have fueled ou

127、r innovation,accelerated how we collaborate across teams and continents,and enabled us to anticipate evolving customer needs across the markets we serve.We understand that our employees ability to contribute requires that we create a safe environment where all employees feel invited to contribute th

128、eir singular voices,experiences,interests and expertise.Bio-Technes commitment to fostering a culture of belonging is embodied in details of varied scale and scope.We want employees Diversity&InclusionDiversity,Inclusion&Belongingto feel safe,have a voice and be their authentic selves.We actively en

129、courage them to personalize their workspaces,invest in STEM education to grow a diverse talent pipeline,sponsor ERGs and prioritize diverse talent pools.Our effort to advance diversity and belonging acknowledges that tactics in one region may be ineffective elsewhere,and the imprint of regional cult

130、ures often requires more personalized solutions.Bio-Techne empowers its leadership,guided by regional human resource teams,to seek,source and welcome diverse talent.Because regardless of region,community or culture,Bio-Techne understands this proven constant:diverse teams produce better results.Our

131、foundation for belonging starts with transparency and our commitment to work tirelessly in living our values.Bio-Techne is an equal opportunity employer and its EEO-1 can be found here.Across its global enterprise,Bio-Techne provides equal opportunity to all employees and applicants irrespective of

132、ethnicity,national origin,race,color,gender,religion,age,disability,veteran status,marital status,gender identity,sexual orientation,or any other legally protected characteristic.Green Team Employee Resource Group Co-LeadsINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENV

133、IRONMENTSASB STANDARDS INDEXTCFD INDEX242024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORT Diversity&Inclusion43%Female Global Supervisors&Above49%Female Global Employees39%Non-White Global Employees26%Non-White Global Supervisors&AboveGlobal Employees By GenderSupervisors&AboveIndividual ContributorMa

134、le 56.6%Female 43.4%Non-Binary 0.0%Male 48.7%Female 50.4%Non-Binary 0.9%U.S.Employees By GenderSupervisors&AboveIndividual ContributorMale 48.5%Female 50.4%Non-Binary 1.1%Male 53.8%Female 46.2%Non-Binary 0.0%INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB S

135、TANDARDS INDEXTCFD INDEX252024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTDiversity&InclusionEmployee Resource GroupsOne of the centerpieces of our human capital strategy resides in our Employee Resource Groups,or ERGs.They bring connection through empathy,allyship and celebration of the whole person

136、,and promote creativity,courage and passion through acts of volunteerism,fundraising and social awareness.Bio-Technes ERGs host activities throughout the year to promote inclusivity,connectedness,education and development opportunities.The ERGs fundraise for various causes and have raised thousands

137、of dollars for organizations supporting everything from STEM education for Black students to efforts to end prostate cancer.We recognize there will always be challenging and rewarding work to be done to maintain a welcoming space for all employees.The leaders of our ERGs,along with their executive s

138、ponsors,will continue to build a culture that creates a sense of belonging.LGBTQ ERG-Minneapolis PrideINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX262024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTDiversity&InclusionERG Voices:Emp

139、loyee ExperiencesPROFESSIONAL DEVELOPMENT ERG In the past year,the Professional Development ERG hosted several events for its nearly 100 members,including a Professional Development Q&A series featuring Company leaders,an outside speaker presenting on improving public speaking skills,and a Grow Your

140、 Career workshop regarding how to create a professional development plan.DisABILITY ERGThe DisABILITY ERG,which seeks to make improvements at Bio-Techne sites to help benefit those with disabilities,hosted a series of webinars focusing on the importance and discussion of Mental Health in the Workpla

141、ce.“Bio-Techne ERGs foster an environment where people feel empowered to express their true selves.ERGs at Bio-Techne have been coming together to help raise awareness and educate our community about the incredible work they do.I can share my story without fear of judgement.We are able to make new c

142、onnections and create relationships across the globe.Being a part of the DisABILITY ERG makes me feel like I belong.”Tommy F.Co-Leader,DisABILITY ERG“I feel the professional development ERG is important to the Company because it offers employees the opportunity to hone their skills and take an activ

143、e role in developing their careers.Members can meet people across the Company that have similar interests and forge collaboration opportunities.This ERG fosters a culture of self-improvement and intentional progress.”Emily M.Co-Leader,Professional Development ERG APIDAAsian Pacific Islander Desi Ame

144、rican Resource Group and Their AlliesDisABILITYPeople with Mental and Physical Disabilities and Their AlliesGreen TeamSupporting Sustainable Initiatives at Bio-TechneLGBTQ+People that Identify as LGBTQ+and Their AlliesProfessional DevelopmentPeople that are Early in Their Careers and Their AlliesVet

145、eransPeople with Military Experience and Their AlliesPeers with YearsResource Group for People Born Prior to 1990 and Their AlliesWomen EmpowermentResource Group for Women and Their AlliesHispanic/LatinXPeople of Hispanic Heritage and Their AlliesB-EPICPeople of African Heritage and Their AlliesCURR

146、ENT EMPLOYEE RESOURCE GROUPS(ERGs)Families&CaregiversCaregiver and Professional Balance Support GroupINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX272024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTWe employ a variety of recruiting

147、strategies designed to identify qualified candidates and develop a talent pipeline.Our recruiters utilize a broad-based recruiting strategy by attending academic,professional and diverse job fairs,as well as utilizing online recruitment resources.We strategize with leaders in the organization to und

148、erstand hiring needs during our bi-annual workforce planning conversations.We leverage our trusted employees to support our recruitment efforts.We offer generous referral bonuses where a referral may lead to a new hire.In fiscal 2024,we paid over$300,000 to our colleagues for successful referrals.Th

149、at policy helped us to recruit and hire over 630 new employees this past year,including key leadership.Recruiting&RetentionA safe working environment is fundamental to employee well-being.We comply with all applicable health and safety laws and regulations,and ensure employees receive training on wo

150、rking safely and reporting any concerns.Additionally,we provide training on safety and hazard awareness based on facility,function and team,including safe handling of laboratory equipment,proper use and disposal of hazardous materials,proper incident reporting and response.In fiscal 2024,we evaluate

151、d the recently initiated engagement activities designed to recognize contributors to environmental health and safety improvements and innovation.From these efforts,Bio-Techne improved the safety of its workplaces while promoting positive morale.We hired an Enterprise Environmental,Health and Safety

152、Director to lead the development and implementation of effective Environmental,Health and Safety compliance programs at the enterprise level for all locations globally.In our efforts to continually improve employee health and safety,in 2024 we developed an incident management strategy which includes

153、 a communication playbook.The strategy outlines actions to prevent workplace incidents,measures to respond to an incident,and communication protocols.Potential incidents that could threaten the health and safety of employees may include fire,chemical spill,active shooter,severe weather,power outage,

154、etc.Weve implemented the AlertMedia mass communication application to ensure rapid and consistent communications during an emergency at our Waltham,MA and Denver,CO locations.The application will be implemented in all North American locations in fiscal 2025.Bio-Techne also provides for the psycholog

155、ical and emotional security of employees with mental health benefit coverage,flexible work,employee resource programs,seminars on mental health awareness and on-call employee assistance.We offer annual flu vaccinations as one of the ways we demonstrate our commitment to maintaining a healthy work en

156、vironment.OUR COMMITMENT TO WELL-BEING&SAFETYGMP Facility in St.Paul,MNOur CommitmentsINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX282024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTBio-Technes EPIC values sit atop a foundation of

157、integrity,fair competition and duty to follow the law,all of which are embodied in our Code of Ethics and Business Conduct.We monitor and follow relevant employment laws across all sites,including anti-discrimination and harassment,immigration,freedom of association,collective bargaining,fair wages

158、and working hours,safe and healthy working conditions,freedom from retaliation,and other fair employment practices.See the Ethics and Compliance Section of Pillar Three for more information about our commitment to ethics and compliance.Integrity.For Our People,Our Customers&Our CommunitiesOur Commit

159、mentsINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX292024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTBio-Techne strives to model its values by contributing to the health and welfare of the many communities it calls home,as well as

160、impactful causes that serve our planet.We make financial donations and,with the energy and exuberance of our organization,sponsor volunteer events and charitable opportunities.In addition to contributing“on-the-clock”time,we provide each U.S.employee with eight hours of paid time off each year to sp

161、end on the charitable or volunteer activity of their choosing.In 2024,more than 300 employees contributed over 2,000 hours of volunteer time.Examples of volunteer activities organized by Bio-Techne:A group of Company leaders attended Celebrating The Sistas Awards.It was an extraordinary evening hono

162、ring and celebrating the infinite impact of Black Women.#SistaRipples.A group of Minneapolis employees spent time representing Bio-Techne and sharing STEM knowledge with Science Museum Minnesota guests.Members of the Abingdon team volunteered to pick up litter around the site,collecting 15 bags on b

163、ehalf of the Vale White Horse District Council.The Minneapolis Green Team ERG volunteered at the Bridal Veil Community Gardens in Minneapolis to help maintain the garden and collected pop tabs for the Ronald McDonald House.Members of the Devens team collected food donations and personal care items f

164、or Loaves&Fishes Food Pantry.Spotlight on the Newark,CAteam:Participated in the Giving Tree Backpack Drive,collecting and distributing backpacks filled with school supplies to students whose families struggle to provide basics for school.Participated in the Giving Tree Holiday Wish Drive by fulfilli

165、ng the wishes of children and seniors in need and help spread comfort and joy in the community.Company leaders volunteered at Second Harvest,sorting and packing foods for food banks that provide food to families in need.Betty B.spoke at the Menlo College BIO 101 Career Panel to encourage students to

166、 pursue a career in biotechnology.Our CommitmentsServant LeadershipIn Our CommunitySpotlight on the Waltham,MA team:Collected donations for Lazarus House Ministries and participated in a step challenge with proceeds supporting ZERO Prostate Cancer.During Earth Day,volunteers participated in the clea

167、n-up of Prospect Hill Park in Waltham and donated funds to plant trees.Charitable organizations supported by Bio-Techne:United Way(all U.S.sites).Core charity partner,with donations designated to the charity/organization of employees choice and matched by Bio-Techne.United Negro College Fund(all U.S

168、.sites).Led by ERG B-Epic.Betty B.speaks at BIO 101 Career PanelAbingdon Clean Up EventINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX302024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTAdvancing SciencePILLAR TWOSocietal ImpactOur Fa

169、cilitiesInvestments&InnovationProduct DesignResponsible SourcingScaling Up323536404243INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX312024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTOver the last 48 years,Bio-Techne has amassed a p

170、ortfolio of 1,000,000 distinct products to empower biopharmaceutical and academic researchers to develop insights into the biology of specific diseases and,ultimately,enable the development of products to treat or prevent these conditions.Our diverse base of academic and biopharma customers rely on

171、these high-quality life science tools to fuel scientific discoveries that lead to the development and advancement of next-generation therapeutics and vaccines that improve healthcare across the globe.We also develop and commercialize diagnostic tests to improve patient diagnosis and treatment,as wel

172、l as kits,raw materials,controls and calibrators to enable diagnostic tests and ensure diagnostic instruments delivering critical information to physicians and patients are working properly.Societal ImpactTransforming Science and Medicine:Leveraging Over Four Decades of Innovation to Develop Tools a

173、nd Solutions that Revolutionize HealthcareThis legacy of product development and innovation is one of our core competencies and is a strategic pillar we leverage for new product introductions,the expansion of existing market opportunities,and entry into new or adjacent markets.We learn from every pr

174、oject we undertake and put the best of that collective knowledge to work,guided by our broad scientific expertise,quality processes and creative community.This includes compounding the benefits of how we develop and deliver products and the impact they have on society,the global and local communitie

175、s in which we operate,as well as the environment.A P OP TOS ISH EALT H Y C EL LINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX322024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTBio-Techne impacts the health and quality of life of glo

176、bal populations by developing the innovative research reagents,analytical tools and spatial biology solutions relied upon by biopharmaceutical and academic researchers.These tools enable our customers to further their understanding of disease etiology and develop potential cures and treatments for a

177、 wide range of conditions.Since launching its first recombinant protein in 1988,Bio-Technes portfolio of products and technologies have played an integral role in the discoveries that led to the launch of numerous therapeutics,including small molecule pharmaceuticals,recombinant proteins,monoclonal

178、antibodies,and vaccines,as well as the emerging class of cell and gene therapies.THE ExoDx PROSTATE TESTThe noninvasive,urine-based ExoDx Prostate Test was designed to capture key molecular information to identify which men should undergo biopsies and which can safely be monitored with less invasive

179、 techniques.For patients whose prostate specific antigen(PSA)biomarker falls into a“gray zone”of uncertainty,the ExoDx Prostate Test offers critical information to distinguish between patients at risk of low-grade prostate cancer and those at risk of high-grade prostate cancer,assisting men to avoid

180、 a risky,painful,and potentially unnecessary prostate biopsy.Societal ImpactOur Impact on SocietyE XO S O M E SMany current genetic tests target disease-causing DNA variants identified in people of European descent.As a result,commonly used tests for disorders such as Cystic Fibrosis(CF)may fail to

181、diagnose patients with non-European ancestries.Bio-Techne is addressing this gap with CF products that target pan-ancestry disease variants identified from the latest international studies and databases.We are also developing novel long-read sequencing-based assays for carrier screening that expand

182、equity to genes that are hard to analyze with more comprehensive coverage so that people who deserve better answers about their health arent left behind.More equitable genetic testing means better healthcare for every body .INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE E

183、NVIRONMENTSASB STANDARDS INDEXTCFD INDEX332024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTWe are implementing initiatives not just to develop cutting edge tools for the scientific community but also to fortify these initiatives with strategies to reduce Bio-Technes environmental footprint.For example

184、,representatives from our Minneapolis-based R&D,Operations,and Quality departments recently joined forces to increase yields on some of our high-volume proteins.This cross-department initiative developed and implemented processes that led to increased protein yields in both our Minneapolis,and St.Pa

185、ul Good Manufacturing Practice(GMP)manufacturing facilities,which in turn,lowered the associated energy consumption as less production is now required to produce the same mass yield of proteins.Bio-Technes U.K.-based team(EMEA)deploys multiple strategies to positively impact the Societal ImpactEnvir

186、onmental Impactenvironment,including submitting returns for packaging,waste electrical and battery streams placed on European and UK markets,as well as quarterly submission to the HM Revenue&Customs(HMRC)as part the UK Plastic Packaging Tax.By complying with these schemes,Bio-Techne EMEA demonstrate

187、s their commitment to responsible packaging management and resource conservation.The returns allow for the proper tracking and cost obligation of imports in various countries supporting the correct disposal of packaging waste locally,ensuring these materials are recycled or treated appropriately.Lik

188、ewise,the plastic packaging tax provides a financial incentive to reduce the use of plastic packaging and encourage the adoption of more sustainable alternatives,diverting waste from landfills and increasing levels of recycling.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYT

189、HE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX342024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTIn September of 2020,Bio-Techne opened a state-of-the-art GMP(Good Manufacturing Practice)protein manufacturing facility.GMP-grade proteins are essential components of cell culture media for regenerative med

190、icine,immuno-oncology and gene-modified cell therapy workflows.We are currently manufacturing 12 different GMP-grade proteins in the facility,with a roadmap for continued menu expansion in the coming months.At this new facility,Bio-Techne has been able to improve the fermentation and purification pr

191、ocesses.These increased yields enable the facility to produce higher volume of product with less manufacturing runs,translating into water and energy savings.We are expanding our GMP capabilities with the planned introduction of a GMP small molecule facility in Bristol,United Kingdom.These GMP small

192、 molecules play an important role in the manufacture of cell and gene therapies and are particularly important for a type of cell therapy called regenerative medicine.Regenerative medicines offer high potential for the treatment,and potential cure,of several pathologies,including Parkinsons disease,

193、diabetes,and heart disease.The Bristol,U.K.facility and workflows are designed to comply to the Medicines and Healthcare products Regulatory Agency(MHRA)Rules and Guidance for Pharmaceutical Manufacturers and Distributors.This new facility will also meet the requirements of EudraLex Volume 4 part 2

194、GMP for Active Pharmaceutical Ingredients(APIs).We continuously evaluate the use of hazardous materials throughout our global facilities.Our goal is to reduce or eliminate these materials in our final products whenever possible.For example,we have reduced the use of mercury containing preservatives

195、in our assay kits by 99%and lowered the amount of alternate preservatives in more than 13,000 products to levels considered non-hazardous to the environment,while maintaining the antimicrobial action of the chemicals.Additionally,we continued to replace the use of dimethylformamide(DMF)with non-haza

196、rdous alternatives across the Company,removing DMF from new immunoassay kit development.Another example is the use of chlorine dioxide gas for product sterilization in our Minneapolis facility,an environmentally friendly sterilization process that replaced the use of ethylene oxide.Our FacilitiesGMP

197、 Facility in Saint Paul,MNGMP Protein FacilityINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX352024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTInvestments&InnovationR&D Investments Drive Product InnovationOur scientific vision is re

198、alized through the commitment and investments in our diverse R&D team and product development.This diversity is reflected in the breadth of our products;we manufacture products ranging from small molecules to whole cells.Our solutions span reagents,assays,controls,analytical instruments,interpretive

199、 software and fully integrated diagnostic tests and systems.We have technologies and leading positions in multiple trailblazing areas of basic and clinical science:cell and gene therapy,proteomics and multiomics,spatial biology,liquid biopsy and molecular and clinical diagnostics,among others.We con

200、tinually challenge ourselves to advance each of these areas,but,importantly,we also innovate across them to capture the unique synergies across our portfolio.By catalyzing connections between our people and science,we achieve breakthroughs and novel products that few other companies can.8%of revenue

201、s invested in R&D1,000 patents&applications80 IVD products450 scientists&engineers1M products developed40k product citations per yearMultiple QMS Certifications(ISO 13485:2016,ISO 9001:2015,ISO 14001:2015,FDA,MDSAP,USDA)800 new products this year15+QMS&EHS CertificationsScience&Technology Innovation

202、 CouncilINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX362024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTInvestments&Innovation Includes leading scientists and engineers from across Bio-Techne Facilitates cross-divisional collaborat

203、ion and innovation Focuses on Bio-Technes key growth platforms Nurtures“innovation streams”dedicated to artificial intelligence,microfluidics and other topicsBio-Technes Innovation Cycle is an annual business rhythm that links strategic planning,project prioritization and the annual operating plan.T

204、his cycle begins with the 5-year enterprise strategic vision,which provides our direction,objectives and high-level financial targets.This vision is translated to strategic themes and refined through division-level project investments,which are then prioritized by assessing the cost and anticipated

205、benefit of each project.These projects are then integrated into a portfolio for each division and compared across the enterprise to establish a risk/reward profile consistent with the strategic plan.Finally,the portfolio is operationalized through next-year planning and execution.Our Innovation Cycl

206、e is the Engine for Diverse Customer SolutionsThe Innovation Cycle is fueled by Bio-Technes culture of scientific acumen,curiosity and creativity.Each year,the cycle generates hundreds of novel ideas relating to the configuration,performance,and customer experience of new and existing products.These

207、 activities are supported by evidence-based ideation processes and innovation hubs across the Company.For example,Bio-Technes Science and Technology Council unites scientific leaders to explore new ideas through collaboration,demonstrating the value of bringing diverse people,backgrounds and experie

208、nces together.IdeationFeasibilityImplementationResearchSTRATEGIC PLAN Strategic Vision Mission Analysis RoadmapInnovation Cycle:Business RhythmPRIORITIZATION Bottoms-up Project Options Prioritized PortfolioOPERATING PLAN Annual Fiscal Plan that Drives Business GrowthScience and Technology Innovation

209、 CouncilINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX372024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTInvestments&InnovationOur Internal Research Programs&Acquisitions Expand Our Product OfferingBio-Techne relies on internal rese

210、arch and development efforts combined with an active acquisition strategy to build its portfolio of innovative products,solutions,and technologies.Our investment in R&D initiatives over the years has created a market-leading portfolio of research reagents,including over 2,500 immunoassay kits,over 6

211、,000 proteins and over 425,000 antibody variations.During fiscal 2024,Bio-Techne spent approximately$97 million(8%of revenue)on its R&D initiatives to support a robust pipeline of new products.Consequently,we launched 800 new products across our Company this past fiscal year to support our biopharma

212、ceutical,academic and diagnostic customers.We fortified our industry-leading reagent portfolio with an expanded number of GMP-grade proteins manufactured in our state-of-the-art facility dedicated to GMP-grade reagent manufacturing.This 61,000 square foot facility supports large scale production of

213、GMP-grade proteins,including animal free cytokines and growth factors.GMP-grade proteins are an essential component of cell culture media for regenerative medicine,immuno-oncology and gene-modified cell therapy workflows and position Bio-Techne to be a leader in this emerging therapeutic class.We ar

214、e further strengthening these GMP manufacturing capabilities with the introduction of GMP antibodies and the opening of a GMP manufacturing facility for small molecules to serve increasing demand from our biopharmaceutical and academic research customers.In fiscal 2024,we strengthened our spatial bi

215、ology franchise with the acquisition of Lunaphore,a leading developer of fully automated spatial biology solutions.We also bolstered our proteomic portfolio with an exclusive distribution agreement and equity investment in Spear Bio,a company with next-generation,ultra-sensitive immunoassay technolo

216、gy based on technology licensed from Harvard University.Spear Bios highly scalable technology enables the quantification of low abundance biomarkers at the earliest stages of disease with a simple workflow that can be used with existing lab instrumentation.Additionally,we continue to co-develop prod

217、ucts with Wilson Wolf following our 20%ownership stake in the company.Specifically,we continue to make progress on the development of a sterile immune cell therapy manufacturing solution utilizing Wilson Wolfs G-REX and Bio-Technes GMP-grade reagents and gene editing technology.Our agreement with Wi

218、lson Wolf includes the right to acquire the remaining ownership stake upon its achievement of certain future financial milestones.Wilson Wolf is already a Bio-Techne partner in the ScaleReady joint venture.Our activities with Wilson Wolf will strengthen Bio-Technes cell and gene therapy offering,pos

219、itioning the Company to be a dominant player in workflows to enable this emerging class of therapeutics.8002k+Kits6k+Proteins425k+AntibodiesExtensive Reagent PortfolioR&D Investment FueledWilson Wolf CollaborationNew Product LaunchesCo-Developing Cell Therapy Solutions20%stakeINTRODUCTIONOUR PEOPLEA

220、DVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX382024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTBio-Techne has made a strategic investment in Spear Bio,an innovative leader in providing scalable solutions for ultra-sensitive protein biomarker measurement

221、s.Spear Bios proprietary technology,Successive Proximity Extension Amplification Reaction(SPEAR),employs a unique 2-factor authentication mechanism to precisely measure protein biomarkers at attomolar level from sub-microliter sample volume.Spear Bio is focused on leveraging its technologys unpreced

222、ented sensitivity to transform protein research and early disease diagnosis.Lunaphore is a leading developer of fully automated spatial biology solutions using precision microfluidic technology to enable the visualization of proteomic and transcriptomic biomarkers in tumors and other tissues at sing

223、le-cell and subcellular resolution.Lunpahores technology and instrumentation empowers researchers in immunology,immune-oncology and neuroscience to push the boundaries of scientific discovery and accelerate therapeutic development.Investments&InnovationAcquisitions&Strategic InvestmentsINTRODUCTIONO

224、UR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX392024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTBio-Techne approaches product design with an eye toward efficiently developing and delivering innovative products and technologies that our biopharm

225、aceutical,academic and diagnostic customers need to conduct their research and diagnostic processes and ultimately improve patient care.Product DesignBio-Techne Pioneers Sustainable Product DesignIn order to meet and stay ahead of industry trends,we are increasingly approaching our product developme

226、nt process through a sustainability lens,aiming to deliver the highest quality products and technologies that are not only cutting edge from a scientific perspective,but also designed with long-term sustainability in mind.Specifically,we consider the use of hazardous materials and animal components,

227、waste and recycling implications,and shipping as well as packaging needs.The majority of our products are biological in nature,requiring water to manufacture cell culture media and buffer formulations,electricity to run equipment,and potentially a cleanroom setting to ensure sterility.In recent year

228、s,Bio-Techne has focused on standardizing these processes throughout the organization,sharing best practices internally to minimize use of raw materials,streamline processes,and minimize the use of hazardous chemicals and the creation of waste,while ensuring the highest quality products.Our design c

229、ontrol process requires a risk/hazard analysis including review of raw materials,process efficiency,and waste stream environmental impact through the use of standard operating procedures for each new product during all phases of product development.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&O

230、PERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX402024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTOver the last 48 years,Bio-Techne and its brands have earned the reputation as being a premier developer and supplier of life science tools and diagnostic solutions.We have developed rig

231、orous Quality Management Systems(QMS)processes and procedures designed to ensure that Bio-Techne manufactures the highest quality products for the research and diagnostic communities.We leverage these same QMS processes and procedures to vet and select our suppliers,contractors and partners.Our adhe

232、rence to the highest quality and environmental standards has been recognized through the attainment of International Organization for Standardization(ISO)certifications for the majority of our facilities.Additionally,several of our diagnostic controls,calibrators and kits have received FDA clearance

233、 or European Union certification.For example,in fiscal 2024,we completed Class C Certification under the new European Union(EU)In Vitro Diagnostic Regulation(IVDR)for our QuantideX qPCR BCR-ABL IS Kit.Our BCR-ABL kit is a robust and reliable tool for monitoring chronic myeloid leukemia(CML)patients.

234、Our manufacturing process and supplier qualification monitoring programs ensure input traceability within our supply chain.Our quality systems have not only implemented processes and procedures to monitor both safety and quality of the products received from our suppliers,but also the manufacturers

235、of the raw materials included in these sourced products.This enables full traceability of our raw materials in all stages of manufacturing up through our finished goods.We also source animal-based materials from countries that are considered low risk for transmissible spongiform encephalopathies(TSE

236、s),including bovine spongiform encephalopathy(BSE).We have successfully acquired and integrated 19 acquisitions in the past 10 years,with evaluations of quality,safety,product performance and reputation representing key due diligence items in our evaluation of each acquisition.Once these acquisition

237、s close,implementation of Bio-Technes QMS,product safety and quality processes and procedures are key pieces of the integration process.Product DesignProduct Safety&QualityManufacturing and Office SitesCertificationsMinneapolis,MNISO 13485:2016,ISO 9001:2015,ISO 14001:2015,MDSAP,US FDA,Canada MDEL,U

238、SDA,Korea GMPSt Paul,MNISO 13485:2016,ISO 9001:2015,ISO 14001:2015Flowery Branch,GAISO 9001:2015Rennes,FranceISO 13485:2016Paris,FranceISO 14001:2015Bristol,UKISO 9001:2015San Jose,CAISO 9001:2015Wallingford,CTISO 13485:2016Ottawa,CanadaISO 9001:2015Toronto,CanadaISO 9001:2015San Marcos,CAISO 13485:

239、2016,MDSAP,USFDA,Canada MDEL,CA State Med Device Manufacturing License,DEA,USDANewark,CAISO 13485:2016,US FDA Facility Registration,CA State Medical Device Manufacturing LicenseAustin,TXISO 13485:2016,MDSAP,Korea GMP,Canada MDEL,US FDA Registered Facility,Texas Device Mfg License,CLIA,CAP,DOH(RI,NY,

240、MD,PN,CA)Waltham,MACLIA,CAP,DOH(MASS,RI,NYS,MD,PENN,CA,Washington DC)Devens,MAISO 13485:2016,EN ISO 13485:2016,MDSAP,FDA(US),Health Canada,Euamed Actor Registration,DEA(Federal&Mass.)EMEAISO 14001:2015(Abingdon,Langley,Wiesbaden,Rennes),ISO 9001:2015Shanghai,(Prime Gene)ChinaISO 9001:2015Emeryville,

241、CAISO 9001:2015INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX412024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTEffective management of our supply chain is critical to our operations,and we are committed to the responsible sourcing

242、of materials used in our products.Bio-Techne expects our suppliers to operate with a high level of integrity and to conduct their business in an ethical manner.These expectations are detailed in both our Supplier Code of Conduct and Conflict Minerals Report.Managing risks associated with the use of

243、sourced materials deemed critical to our operations is always a focus for our quality,purchasing and operations teams.In recent years,Bio-Techne has implemented a range of strategies to effectively manage our global supply chain operations.Our focus is on aligning critical elements of the supply cha

244、in sourcing and materials management processes,enabling us to identify and proactively manage strategic supplies.The agility of our supply chain team,combined with a data-driven approach,allows us to concentrate on key areas of the supply chain and respond dynamically to secure and restock supplies.

245、Looking ahead,Bio-Techne is committed to enhancing the resilience of its supply chain through long-term initiatives,placing a strong emphasis on early detection and avoidance of potential supply chain issues.To achieve this,we employ several approaches:Supply and Stocking Redundancy:We strategically

246、 increase inventories of inputs that carry a higher risk of supply disruption.By doing so,we ensure alternative sources are readily available,reducing the impact of any potential disruptions.Collaboration with Strategic Suppliers:We foster close relationships with our strategic suppliers,promoting o

247、pen communication and mutual support.This collaborative approach allows us to work together to identify and address any potential vulnerabilities in the supply chain,minimizing the likelihood of disruptions.Effective Demand Planning Processes:Bio-Techne places significant emphasis on robust demand p

248、lanning processes.By accurately forecasting demand and aligning it with our supply capabilities,we can proactively identify and mitigate any potential gaps in the supply chain.Holistic Supply Chain Approach:Internally,we take a holistic and harmonized approach to identify and address potential vulne

249、rabilities within our supply chain.We analyze our supply chain layers,extending our risk analysis beyond the immediate suppliers to deeper tiers of the supply chain.By pursuing these initiatives,Bio-Techne aims to strengthen the overall resilience of its supply chain and ensure a consistent and reli

250、able flow of materials and resources.Our commitment to proactive management and continuous improvement enables us to maintain the highest level of service for our customers.Responsible SourcingSupply Chain&Responsible Sourcing Bio-Techne enhances supply chain resilience through ethical sourcing,stra

251、tegic supplier collaboration,and data-driven demand planning.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX422024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTScaling UpScaling to Meet DemandIn recent years,Bio-Techne has experienced

252、 robust growth across several areas of our business.In order to meet this increased demand and prepare for future growth,we have expanded,or plan to expand,manufacturing capacity at several of our global sites.For example,in 2023,we opened a new state-of-the-art 52,000 square foot product innovation

253、 and manufacturing facility in Wallingford,Connecticut for the manufacturing of Ella immunoassay cartridges.This new facility provides a five-fold increase in our Ella immunoassay cartridge production capacity.We also recently added new vial and bottling equipment at our Minneapolis facility to auto

254、mate manual processes and significantly increase our immunoassay capacity.This new equipment added weight check systems and auto rejection capabilities,automated the capping of vials which were previously done manually,added a label vision verification system,and more than doubled our vial and bottl

255、e filling capacity.New Product Innovation&Manufacturing Facility in Wallingford,CTINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX432024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTGovernance&Operational IntegrityPILLAR THREERisk Mana

256、gement&OversightData Security&PrivacyEthics&Compliance505153Sustainability GovernanceCorporate GovernanceOur Board454648INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX442024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTBio-Techne has

257、ingrained sustainability into its Board of Directors and organizational governance.Our Board oversees our sustainability strategy and progress,and receives updates at each regular Board meeting,including global legal and regulatory requirements.Within the Company,the Sustainability Oversight Council

258、 develops and directs our strategy on sustainability initiatives,is led by the Companys General Counsel,and consists of the CEO and the rest of executive leadership.Prioritizing Sustainability with Board-Driven Oversight and Strategic CouncilThe Sustainability Oversight Council conducts regular meet

259、ings to discuss sustainability strategy and ensure it is embedded into the Companys annual prioritization process.Executing on our sustainability strategy is the multi-disciplinary Sustainability Working Group.This group consists of senior leaders within Operations,Quality,Finance,Accounting,Human R

260、esources,Investor Relations and Legal,and is led by Bio-Technes General Counsel.The Sustainability Working Group provides feedback,guidance and suggestions to the Sustainability Oversight Council to promote“bottoms up”strategy and planning.Board of DirectorsTop Level OversightSustainability Oversigh

261、t CouncilGeneral Counsel,CEO,Executive TeamSustainability Working GroupSenior Leaders within Operations,Quality,Finance,Accounting,Human Resources,Investor Relations,and Legal Sustainability GovernanceINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARD

262、S INDEXTCFD INDEX452024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTCorporate GovernanceBio-Techne has built an exceptional reputation over the years through its employees collective hard work and unwavering commitment to integrity.We believe our long-term success depends upon the quality of our peopl

263、e and our science,together with our commitment to integrity and governance.As Bio-Techne expands its capabilities,product portfolio,service offerings and geographic footprint,we understand that our sustainable,future success depends on our commitment to business ethics and compliance,financial and s

264、cientific integrity,data security and privacy,and risk management.Read more about our policies covering suppliers,research conduct,data privacy,anti-corruption,and ethical business conduct here.Bio-Technes Bristol FacilityINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENV

265、IRONMENTSASB STANDARDS INDEXTCFD INDEX462024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTCorporate GovernanceStrong Corporate GovernanceBio-Technes Board of Directors provides strategic guidance and oversight,leveraging diverse expertise to drive sustainable value and effective governance across all f

266、acets of the Company.THE ROLE OF OUR BOARDOur Board of Directors oversees and provides strategic guidance to Bio-Technes leadership,directing and advising management as they carry out both long-and short-term strategic,operational and financial plans.Our Board also monitors the performance of our ex

267、ecutive leadership team and the Company as a whole.The Board has established our Principles of Corporate Governance to provide a framework for effective governance.This set of policies and principles is designed to inform the actions of the Board,its committees and management to effectively govern B

268、io-Techne and create long-term,sustainable value for our shareholders,employees,customers and other stakeholders.These guidelines cover the Boards roles and responsibilities,composition and membership criteria,Board and committee meetings,responsibilities,adherence to our Code of Ethics and Business

269、 Conduct,and access to the Board by shareholders.BOARD COMPOSITION AND INDEPENDENCE Our directors bring a wealth of proven success,valuable experience,and broad deep diversity of thought and perspectives to our Board,which benefits stakeholders by promoting effective oversight of our strategy and ex

270、ecution.As an innovative and acquisitive science-based company,our Board members enhance and promote sustainable shareholder value through applying their experience in science and technology,as well as their deep business expertise.Our directors embody this balance with expertise in operations,talen

271、t management,commercial leadership,risk management and mitigation,financial strategy,strategic development,and leveraging the strength of diverse teams.We are committed to delivering differentiated results through promoting Boards diversity including gender,racial,ethnic,and other under-represented

272、groups in identifying and recruiting qualified director candidates.To enhance that diversity while also retaining the benefits of Company knowledge,we rely in part on our mandatory retirement policy,which requires directors to retire upon reaching the age of 75.INTRODUCTIONOUR PEOPLEADVANCING SCIENC

273、EGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX472024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTThe Bio-Techne Board has nine members,eight of whom are independent as defined by the NASDAQ exchanges corporate governance listing standards.This year,the Boards size tempo

274、rarily increased upon the appointment of CEO Kim Kelderman and new director Dr.Judith Klimovsky,returning to a total of nine with the retirements of former CEO Chuck Kummeth in July and,in October,Dr.Randy Steer.Our Board is led by Mr.Robert Baumgartner,our Independent Chairman.Mr.Baumgartner has si

275、gnificant business and board experience,and deep knowledge of Bio-Technes business and strategy.He emphasizes the importance of the Boards objectivity and independence as the Board fulfills its important oversight role on behalf of shareholders.To ensure candid discussion among independent directors

276、,these directors meet regularly in executive sessions without our management team present.Judith Klimovsky,M.D.Alpna Seth,Ph.D.Dr.Rupert Vessey,MA,BM BCh,FRCP,DPhil Robert V.BaumgartnerJohn L.HigginsKim KeldermanRoeland Nusse,Ph.D.Julie L.BushmanRandolph C Steer,M.D.,Ph.D.RETIRING OCTOBER 2024Joseph

277、 D.Keegan,Ph.D.BOARD COMMITTEES Our Board currently has four standing committees:Compensation,Nominations and Governance,Audit,and Science&Technology.Each committee operates under a formal written charter,approved by the Board,that describes its scope of authority and responsibilities.Each committee

278、 reports to the full Board.The committee charters are available here,in the Investor section of our website.Our Board“Bio-Technes Board of Directors is pleased to publish this annual update to our Corporate Sustainability Report in which we further our commitment to transparency and responsible grow

279、th,planful progress and strategic initiatives to come.We are committed to advancing the Companys ESG initiatives,which are integral to sustaining value for our shareholders and our many stakeholders.We focus on building a durable,sustainable,growing business through strong governance and frequent en

280、gagement with Company leadership.The Board of Directors have deep industry,commercial,and technical experience,and work collaboratively to leverage their diverse backgrounds and viewpoints in guiding Bio-Technes management.”Robert V.Baumgartner Chair of the Board and Chair of the Nominating&Governan

281、ce CommitteeBio-Techne Board of DirectorsINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX482024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTWomen33%Have an M.D.,a Ph.D.in a science field,or both67%Underrepresented Ethnic/Racial Minori

282、ty22%Average Age64.23 50s4 60s2 70sAverage Tenure(years)8.23 0-4 YRS1 20+YRS2 10-20 YRS3 5-9 YRSSTRONG GOVERNANCE PRACTICESWe believe our governance practices,as described in our Principles of Corporate Governance,charters and elsewhere,reflect best-in-class practices.These include:independence of n

283、on-employee directors;an independent Chair/Lead Director;a nominating process that incorporates diversity considerations;and shareholder rights,including proxy access.We have executive compensation programs designed to create long-term shareholder value,including stock ownership requirements,perform

284、ance-based long-term equity incentives,a compensation clawback policy,double-trigger severance benefits and anti-hedge and pledge rules.Board Composition9 Board MembersOur BoardPlease refer to our 2024 Proxy Statement and Investor Relations website for more information regarding our Board of Directo

285、rs and Principles of Corporate Governance.LOBBYING AND POLITICAL CONTRIBUTIONSOur Board of Directors retains sole authority to approve any political contributions.Bio-Technes historical and current practice has been not to use Company funds to oppose or support any candidate or influence public opin

286、ion with respect to any ballot referendum or issue.The Company is involved in several industry groups that support our legislative and regulatory evaluation and advocacy efforts.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX492024

287、 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTAs a whole,and through its committees,the Board oversees Bio-Technes strategy and risk management,including those associated with environmental,social and governance matters(ESG).Bio-Technes full Board receives updates on and discusses ESG matters at least

288、quarterly,with at least an annual extensive review of long-term ESG strategy.Embedded within these strategic discussions is the identification,evaluation,and mitigation strategies of associated material risks.As part of its quarterly meetings with management during operating performance reviews,it r

289、eceives updates on risk matters as well.Each Board committee supports that effort by focusing on oversight of risks included within their responsibilities as outlined in their charters.Our enterprise risk management process includes within it the various ESG elements of our sustainability programs.H

290、owever,as we continue to increase our sustainability focus,we have added more specifics around oversight of and responsibility for sustainability specifically,as described in more detail in the accompanying table and in the Corporate Sustainability section of our 2024 Proxy Statement.Regularly revie

291、ws our accounting,reporting,tax and internal controls practices,including the integrity of our financial statementsMeets periodically with Company management from finance,legal,internal audit,tax,compliance and information technology functions to discuss significant areas of our business that could

292、have a material impact on our financial statements,business operations and financial conditionReceives regular updates on cybersecurity enhancements and internal testing,cybersecurity incidents,and legal and regulatory risks with potential financial impactsAppoints and evaluates Bio-Technes independ

293、ent registered public accounting firmLeads the annual review of CEO and executive officer performance and supports the Boards review of succession plans to key managementImplements or recommends compensation structures,practices and policies that align with Company strategies and shareholder interes

294、ts,comply with regulatory requirements and discourage excessive risk-takingOversees and evaluates risks related to Bio-Technes talent,diversity and inclusion,and compensation practices and policies,as well as other material human capital key performance indicatorsOversees the Boards governing proces

295、ses,organization,membership and structureOversees compliance with environmental and sustainability regulations and requirements,and monitors managements progress towards its sustainability strategyPeriodically reviews Bio-Technes culture,ethics and compliance programsIn coordination with management,

296、engages with shareholders on governance,corporate responsibility,environmental and sustainability mattersThe Audit CommitteeThe Compensation CommitteeThe Nominations&Governance CommitteeEnterprise Risk Management&Oversight Risk Management&OversightINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OP

297、ERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX502024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTA CULTURE OF PERSONAL RESPONSIBILITYWhile Bio-Techne invests in industry-leading tools and systems to protect its and its customers data,it devotes considerable time to training and educa

298、ting its employees about the signs and symptoms of cyber attacks.Bio-Technes Code of Ethics and Business Conduct reinforces the foundational principle that sharing data is a matter of trust,and that each employee is individually responsible for keeping and building that trust.To equip employees for

299、this responsibility,Bio-Techne requires all employees to take and pass on an annual basis training how to identify,avoid,and responsibly report suspected cyber attacks such as phishing,denial-of-service,spoofing,and others.In addition,Bio-Techne reinforces its employees training by subjecting them t

300、o simulated cyber attacks on a randomized and unpredictable basis,with further training required if the simulated attack is not recognized.These simulated cyber attacks are more heavily targeted at those functions and personnel with access to sensitive data and access to valuable Company resources.D

301、ATA AND CYBER SECURITYData security and privacy are important elements of our enterprise risk management.We have continued to invest in all elements of our cybersecurity program.Our program incorporates defined requirements based on leading industry standards such as the National Institute of Standa

302、rds and Technology(NIST)in order to protect the confidentiality,integrity,and availability of Bio-Technes information systems and data.As part of our comprehensive approach,we continuously invest in resources to strengthen our security posture to protect internal and customer data.Data security is g

303、iven a high priority and is supported by a team of experienced professionals within our Information Technology department,accountable for all elements of the program,including:security operations,governance and risk management,security architecture and engineering,and security education and awarenes

304、s.We have also formed an Incident Response Team with representatives from Information Security,Internal Audit,Legal,Finance,Human Resources and Operations.The Incident Response Team has developed a plan in the event of a breach and meets regularly to review that plan and otherwise prepare for potent

305、ial cyber attacks.LEADERSHIP AND GOVERNANCEBio-Technes data and cyber security strategy is led by the Chief Information Officer,with input and execution from the Chief Information Security Officer.In addition to supporting the Companys enterprise-wide cyber security management,the Legal Department m

306、anages the Companys global compliance with data privacy laws and regulations.The Bio-Techne Board receives reports on information security on a regular basis and our Audit Committee is kept apprised of risks and incidents that could have material impact to our financial statements or business operat

307、ions.Additionally,the full Board receives at least annually a comprehensive report on Bio-Techne cybersecurity strategy,effectiveness,and plans.Enhancing Cybersecurity with Robust Data Protection,Leadership,and Employee TrainingData Security&Privacy INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&

308、OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX512024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTDATA AND CYBER SECURITY DEVELOPMENTS Bio-Technes business continues to grow,and has expanded both organically and through strategic acquisitions.This growth has required Bio-Techne to d

309、evelop considerable adaptability and rigorous controls within its information technology infrastructure.In the last several years,Bio-Technes achievements in hardening its data and cyber security include the following:Secure by Design Consolidated subsidiary and international websites under One Web,

310、utilizing a single website code base across multiple sites Implemented multi-factor authentication for email accounts and external access to the internal network Implemented Microsoft Dynamics 365 in its European operations Implemented advanced e-mail filtration tools Conducted tabletop incident res

311、ponse exercises to improve cybersecurity incident response Implemented industry best practice processes across foundational features of data security,including DLP,endpoint encryption,password complexity,patching,technology lifecycle management,website security management,and single sign-on Establis

312、hed and executed repeatable network design and server design to integrate past acquisitions Updated and expanded data and cyber security training to employees Expanded and developed expertise of cyber and data security by growing the information security team Reviewed and updated IT policies on Netw

313、ork Security,Information Security,Data Backups,and Password complexityData and cybersecurity remain critical features of Bio-Technes focus on protecting its and its customers business.Bio-Techne plans to continue strategic investment in appropriate tools and systems to ensure that customers can cont

314、inue to depend,securely and confidently,on Bio-Technes high quality products and service.Data Security&Privacy Privacy of data is an overlapping but separate matter.Bio-Techne is committed to ensuring our customers and stakeholders data remain secure and are used only for business purposes and in ac

315、cordance with applicable laws as specified in our Privacy Policy.We are also committed to the fair and lawful treatment of personal information about our employees,prospective employees,their dependents and beneficiaries that we collect or process,or that third parties collect or process on our beha

316、lf.INTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX522024 BIO-TECHNE CORPORATE SUSTAINABILITY REPORTBIO-TECHNE CODE OF ETHICS AND BUSINESS CONDUCTOur Code of Ethics and Business Conduct reflects our values and commitment to operate

317、ethically and at all times in compliance with relevant laws and regulations.The Code is structured in an easy to understand format with explanatory examples,and is translated into four languages in addition to English for our employees for whom English is not as familiar.The Code covers such diverse

318、 topics as equity and inclusion,anti-corruption,privacy,insider trading and maintaining accurate and complete records;there are three main sections titled“Respecting People,”“Safeguarding our Business Assets and Financial Integrity,”and“Engaging our Customers and Business Partners.”This Code applies

319、 to the Bio-Techne Board and all Bio-Techne employees,including those who join by acquisition.As part of our onboarding process,all employees are required to review and acknowledge adherence to the Code.They also receive training on the topics covered in it on a periodic basis.INTEGRITY LINEThe Code

320、 highlights multiple ways for employees and others to raise questions or report any concerns about improper conduct see page 12 of the Code of Ethics and Business Conduct.While employees can report directly to their manager or to Human Resources any concerns,some employees may choose to use Bio-Tech

321、nes Integrity Line,which allows reporting with an identity or anonymously.We encourage all employees to ask questions,raise concerns and report situations that they do not believe comply with our high standards of ethical conduct.Our policy also includes a firm policy of non-retaliation.Concerns tha

322、t are raised will be treated seriously and without fear of retribution.ANTI-CORRUPTION POLICYThe Code of Ethics and Business Conduct includes a section devoted to operating the business with integrity.Bio-Techne supplements this with a separate Global Anti-Corruption Policy that describes in more de

323、tail how we operate our business ethically and in compliance with U.S.Foreign Corrupt Practices Act(FCPA)and the anti-corruption and anti-bribery laws and regulations of all of the countries in which we conduct our business.The policy applies to all employees,officers and directors globally and desc

324、ribes in detail the business activities and payments that are improper and prohibited under the policy.See the Bio-Techne Global Anti-Corruption Policy.Bio-Techne markets and sells its products and services in many countries through authorized distributors and other sales partners.We maintain an ant

325、i-corruption program applicable to those third parties as well,which includes appropriate diligence of our sales and distribution partners,provisions in contracts requiring them to comply with relevant anti-corruption laws,and periodic acknowledgement of their compliance with our anti-corruption pro

326、gram.Certain employees and partners receive periodic compliance training and elements of our compliance program are audited by our internal audit staff.See Bio-Techne Global Anti-Corruption Policy.Global Anti-Corruption Policy and Ethics Code“Innovation runs deep at Bio-Techne,as our team of 450 sci

327、entists leverage their technical expertise and the collective body of knowledge that has been amassed at the Company over the last 48 years to uncover new discoveries,and in-turn,drive a steady cadence of new product introductions.Developing,and ultimately bringing these innovations to market with t

328、he highest level of ethical standards remains a core focus for the Company.”Evett Kruka Senior Vice President,Spatial Biology DivisionEthics&ComplianceINTRODUCTIONOUR PEOPLEADVANCING SCIENCEGOVERNANCE&OPERATIONAL INTEGRITYTHE ENVIRONMENTSASB STANDARDS INDEXTCFD INDEX532024 BIO-TECHNE CORPORATE SUSTA

329、INABILITY REPORTEthics&ComplianceHEALTHCARE COMPLIANCEWhile a number of our products are used as components of healthcare products and services,we have only a handful of products and services that are purchased by laboratories or ordered by healthcare providers,constituting a small part of Bio-Techn

330、es total revenue.Within this business,we comply with various rules and regulations related to marketing and selling healthcare products and services,including the U.S.federal Anti-Kickback Statute,the Health Insurance Portability and Accountability Act(HIPAA)and other comparable laws and regulations

331、 in states and other countries.These include rules related to marketing our products in compliance with the scope of their intended uses.We adhere to well established industry best practices regarding healthcare compliance and interactions with healthcare professionals,and have incorporated them int

332、o our healthcare-related policies and processes.FINANCIAL INTEGRITYOur focus on ethics applies to financial integrity as well.Bio-Techne is committed to acting with honesty,integrity and reliability to safeguard our reputation and investors and the publics confidence in Bio-Techne.As described in mo

333、re detail in our Code of Ethics and Business Conduct,our commitment to financial integrity rests on the foundation of accurate and complete financial record-keeping and reporting.That commitment to accurate and complete financials is supported by a strong internal audit function that helps management ensure proper accounting and related controls.Internal audit also coordinates with our CFO and Chi