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Bruker's (BRKR) New Tie-Up to Expand Its U.S. CRO Business
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Bruker Corporation (BRKR - Free Report) recently announced a strategic partnership with Biognosys AG. The deal, whose financial details were not disclosed, has enabled Bruker to make a majority-ownership investment in Biognosys.
Moreover, several of Biognosys’ earlier investors have sold their shares to Bruker in a secondary transaction. Following this, Bruker will make new primary investments in Switzerland-based Biognosys.
The latest partnership is expected to significantly solidify Bruker’s Life-Science Mass Spectrometry business in the United States.
Rationale Behind the Partnership
Bruker’s latest collaboration with Biognosys is expected to create unique synergies between Biognosys’ versatile portfolio of proprietary proteomics services, software and kits and Bruker’s pioneering timsTOF platform. Biognosys is currently planning to open its first advanced proteomics contract research organization (CRO) services laboratory in Massachusetts using the timsTOF platform as a result of the strategic partnership.
Bruker’s management believes that its tie-up with Biognosys will likely enable it to expand its CRO business in the United States. The company currently has many common biomarker and biopharma customers. Hence, potential customers may prefer a well-known proteomics CRO services player like Biognosys for rapid, outstanding and flexible insertion of proteomics into their biomarker or biopharma discovery and development. Per management, with the rapid scientific acceptance of its dia-PASEF workflows, the partnership will likely offer a unique combination of proteomics applications and data-science expertise. This is expected to benefit more biopharma and diagnostics companies using unbiased proteomics for decision-making, per Bruker.
Biognosys’ management feels that the collaboration with Bruker will enable it to leverage the companies’ unique synergies to allow customers to explore the depth of the proteome from early research to clinical development.
Industry Prospects
Per a report by Precedence Research, the global proteomics market was estimated to be $26.1 billion in 2021 and is anticipated to reach $74.8 billion by 2030 at a CAGR of 12.41%. Factors like the growing demand for personalized medicines, an increase in the number of advanced diagnostics tools in targeted disease and treatment and an increase in research activities are expected to drive the market.
Given the market potential, the latest partnership is likely to provide a significant boost to Bruker’s business in the United States.
Notable Agreements
Last month, Bruker announced that its Bruker Energy & Supercon Technologies division and majority-owned RI Research Instruments GmbH had received multi-year contracts to supply key technology components for major fusion projects in Europe and Asia, together valued at approximately $50 million.
In November, Bruker announced the signing of the definitive agreement to purchase 100% of the shares of Neurescence Inc., a provider of ultralight fiber-bundle Multiscopes for simultaneous multi-region, optical functional neuroimaging.
The same month, Bruker announced the acquisition of Inscopix, Inc., a neuroscience pioneer and provider of miniaturized microscopes, known as miniscopes, for freely moving animal brain imaging.
Price Performance
Shares of Bruker have lost 8% in the past year compared with the industry’s 9.9% decline and the S&P 500's 19.2% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Bruker carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Boston Scientific Corporation (BSX - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
AMN Healthcare has lost 11.9% compared with the industry’s 29.2% decline in the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.3%. BSX’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 1.9%.
Boston Scientific has gained 9.2% against the industry’s 41.3% decline over the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medical has gained 15.7% against the industry’s 6.8% decline over the past year.
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Bruker's (BRKR) New Tie-Up to Expand Its U.S. CRO Business
Bruker Corporation (BRKR - Free Report) recently announced a strategic partnership with Biognosys AG. The deal, whose financial details were not disclosed, has enabled Bruker to make a majority-ownership investment in Biognosys.
Moreover, several of Biognosys’ earlier investors have sold their shares to Bruker in a secondary transaction. Following this, Bruker will make new primary investments in Switzerland-based Biognosys.
The latest partnership is expected to significantly solidify Bruker’s Life-Science Mass Spectrometry business in the United States.
Rationale Behind the Partnership
Bruker’s latest collaboration with Biognosys is expected to create unique synergies between Biognosys’ versatile portfolio of proprietary proteomics services, software and kits and Bruker’s pioneering timsTOF platform. Biognosys is currently planning to open its first advanced proteomics contract research organization (CRO) services laboratory in Massachusetts using the timsTOF platform as a result of the strategic partnership.
Bruker’s management believes that its tie-up with Biognosys will likely enable it to expand its CRO business in the United States. The company currently has many common biomarker and biopharma customers. Hence, potential customers may prefer a well-known proteomics CRO services player like Biognosys for rapid, outstanding and flexible insertion of proteomics into their biomarker or biopharma discovery and development. Per management, with the rapid scientific acceptance of its dia-PASEF workflows, the partnership will likely offer a unique combination of proteomics applications and data-science expertise. This is expected to benefit more biopharma and diagnostics companies using unbiased proteomics for decision-making, per Bruker.
Biognosys’ management feels that the collaboration with Bruker will enable it to leverage the companies’ unique synergies to allow customers to explore the depth of the proteome from early research to clinical development.
Industry Prospects
Per a report by Precedence Research, the global proteomics market was estimated to be $26.1 billion in 2021 and is anticipated to reach $74.8 billion by 2030 at a CAGR of 12.41%. Factors like the growing demand for personalized medicines, an increase in the number of advanced diagnostics tools in targeted disease and treatment and an increase in research activities are expected to drive the market.
Given the market potential, the latest partnership is likely to provide a significant boost to Bruker’s business in the United States.
Notable Agreements
Last month, Bruker announced that its Bruker Energy & Supercon Technologies division and majority-owned RI Research Instruments GmbH had received multi-year contracts to supply key technology components for major fusion projects in Europe and Asia, together valued at approximately $50 million.
In November, Bruker announced the signing of the definitive agreement to purchase 100% of the shares of Neurescence Inc., a provider of ultralight fiber-bundle Multiscopes for simultaneous multi-region, optical functional neuroimaging.
The same month, Bruker announced the acquisition of Inscopix, Inc., a neuroscience pioneer and provider of miniaturized microscopes, known as miniscopes, for freely moving animal brain imaging.
Price Performance
Shares of Bruker have lost 8% in the past year compared with the industry’s 9.9% decline and the S&P 500's 19.2% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Bruker carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Boston Scientific Corporation (BSX - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare has lost 11.9% compared with the industry’s 29.2% decline in the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.3%. BSX’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 1.9%.
Boston Scientific has gained 9.2% against the industry’s 41.3% decline over the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medical has gained 15.7% against the industry’s 6.8% decline over the past year.