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ProteinSimple developed instruments and consumables for protein analysis; acquired by Techne/Bio-Techne for $300M in 2014.
Also known as ProteinSimple · PRTN
Investors · 3
How we know: Latterell Venture Partners's portfolio page · Not right? Tell us
Company profile
researched Aug 2026ProteinSimple was a Santa Clara, California-based developer of proprietary instrumentation systems, software, assays and consumables for protein analysis. Its product range addressed fundamental protein detection, biomarker work, antibody characterization, stability testing, subvisible particle analysis, discovery, protein quantitation and imaging.
The company's best-known line was the Simple Western family of automated Western blot products, including Wes, which was described as delivering 25 Western blot results in under three hours, alongside the higher-throughput Peggy Sue and Sally Sue instruments. The systems and consumables were designed to simplify protein analysis workflows in both research settings and biologics quality control. Following the 2014 merger agreement with Techne Corporation (d/b/a Bio-Techne), ProteinSimple continued as a division of Bio-Techne under CEO Tim Harkness.
Business model
ProteinSimple sold proprietary protein-analysis instruments together with the assays and consumables used on those systems, a razor-and-blade style instrument-plus-consumables model serving research and biologics quality-control laboratories.
Traction
Revenue of $54 million for the 12 months ended March 31, 2014, rising to $57.1 million for the year ended May 31, 2014, up 30% year over year, with $7.9 million in EBITDA and more than 200 employees.
Latest developments
In June 2014 Techne Corporation agreed to acquire ProteinSimple for $300 million in cash, with $25 million of the purchase price held in escrow for 15 months to secure indemnity obligations and the price subject to post-closing adjustment for cash and working capital. Certain stockholders accepted three-year non-compete and non-solicitation obligations. Techne planned to fund the deal with cash on hand and a new revolving credit facility, and ProteinSimple withdrew its $80 million IPO filing on July 31, 2014.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
At the time of its acquisition, ProteinSimple was a protein analysis systems supplier with revenue growing 30% year over year to $57.1 million and $7.9 million of EBITDA; an analyst note from Leerink Swann projected it could sustain a 20%-plus revenue growth rate driven by the Wes product launch and cited significant customer overlap with Bio-Techne in biopharma and academic research.
Technology
The company's technology centered on automated, capillary-based protein separation and detection systems marketed as the Simple Western family, including the Wes, Peggy Sue and Sally Sue instruments, supported by software and proprietary assay consumables for protein detection, quantitation, characterization, stability testing, subvisible particle analysis and imaging.
Go-to-market
The company sold directly through a large commercial organization: of its more than 200 employees, more than half specialized in sales and technical support, supported by sales offices in Japan and China.
Research laboratories in academia and biopharma, and biologics quality-control functions requiring protein purity and identification analysis.
Geography
Headquartered in Santa Clara, California, with manufacturing operations in Canada and sales offices in Japan and China; the company operated in the United States and was incorporated in Delaware.
History
Founded in 2000, the company built a protein analysis instrument business reaching $54 million in sales for the 12 months ended March 31, 2014 and $57.1 million in revenue for the fiscal year ended May 31, 2014. It had filed for an $80 million initial public offering with J.P. Morgan and BofA Merrill Lynch as joint bookrunners, but withdrew the IPO on July 31, 2014 after agreeing in June 2014 to be acquired by Techne Corporation for $300 million in cash. The merger agreement was signed June 16, 2014, approved by ProteinSimple stockholders by written consent on June 17, 2014, and expected to close on or around July 31, 2014.
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
2 people who came through ProteinSimple went on to found or lead other companies.
Timeline · 3
launches, deals, and filingsProteinSimple withdrew its planned $80 million initial public offering following the announced acquisition by Techne. J.P. Morgan and BofA Merrill Lynch had been set as joint bookrunners.
$80M source ↗
Techne Corporation entered into an Agreement and Plan of Merger with ProteinSimple and McLaren Merger Sub, under which ProteinSimple would become a wholly-owned subsidiary. The $300 million cash purchase price included $25 million held in escrow for 15 months for indemnity obligations, with post-closing adjustment based on final cash and working capital. Stockholders approved the merger by written consent on June 17, 2014; closing was targeted for on or around July 31, 2014. ProteinSimple was to continue as a division of Bio-Techne run by CEO Tim Harkness.
$300M source ↗
Wes, the newest member of the Simple Western family of Western blot products, was described as able to deliver 25 Western blot results in less than three hours; the launch was cited by analysts as a driver of revenue growth.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 5
primary sources listed
- ProteinSimple - Company Profile and News - Bloomberg Marketsbloomberg.com · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does ProteinSimple do?
- ProteinSimple developed instruments and consumables for protein analysis; acquired by Techne/Bio-Techne for $300M in 2014.
- Who are ProteinSimple's investors?
- ProteinSimple's investors include Latterell Venture Partners, Mitsui Global Investment, The Vertical Group.