Quanterix Corp said Tuesday it secured $46 million in Series D funding led by ARCH Overage Fund, Cormorant Asset Management and Trinitas Capital. ARCH Venture Partners, Bain Capital Ventures, Tufts University, Dr. David Walt and Hercules Capital Inc also participated in the round. Lexington, Massachusetts Quanterix is developing tools in high definition diagnostics.
March 23, 2016 10:03 AM Eastern Daylight Time
LEXINGTON, Mass.–(BUSINESS WIRE)–Quanterix Corporation, a leader in the transformation of healthcare through its ultrasensitive single molecule testing capabilities, today announced it secured $46 million in Series D funding from both new and existing investors. This infusion of capital will allow Quanterix to build on the significant growth realized in the last two years. Proceeds will be used to develop desk-top instruments, expand the assay menu for protein and nucleic acid biomarkers, bolster the global channel to market and enable new, pivotal medical studies to be performed with Quanterix’ game changing technology, transforming life science research and diagnostics.
The financing round was led by three new strategic investors, ARCH Overage Fund, Cormorant Asset Management and Trinitas Capital, with continued participation from existing investors, ARCH Venture Partners, Bain Capital Ventures, Tufts University and Dr. David Walt. Hercules Capital, Inc. also participated in the round. The introduction of these marquis crossover investors, in addition to participation from current investors in a material valuation “up-round,” reinforces the potential for Quanterix to expand its product portfolio.
“Quanterix has experienced six consecutive quarters of 100 percent growth, validating the important impact our technology is making in life science research and centralized or distributed diagnostics,” said Kevin Hrusovsky, Executive Chairman and CEO, Quanterix. “Our growth has been across all fields of medicine, including oncology, neurology, inflammation, immunology, cardiac and infectious diseases. With the proceeds from this raise, we will launch desktop instruments in 2017, develop 60 new assays by the end of 2016 and further expand our global reach. Also, based on recent impressive publications from industry researchers, we are increasing our focus on oncology and the field of liquid biopsies.”
“Quanterix is transforming both research and diagnostics for brain injuries, heart disease, cancer and other diseases with its ultra-sensitive technology that helps researchers access information otherwise not reliably attainable,” said Bihua Chen, Managing Member and CEO of Cormorant Asset Management. “We are excited to invest in Quanterix and its mission to advance personalized medicine and ultimately help patients directly manage their diseases.”
Quanterix’ revolutionary, next-generation ultrasensitive digital immunoassay platform offers unprecedented opportunities to drive profound research and innovation in life sciences, drug development and diagnostics and has already been showcased in 57 peer reviewed science journal publications. These publications add tremendous value across the company’s key therapeutic areas, which include neurology, oncology, cardiology, inflammation and infectious disease. There is also mounting evidence that the Simoa platform will be instrumental in the rapidly expanding fields of liquid biopsies, brain and heart health and early detection of disease cascades before symptoms are present.
Quanterix has received numerous acknowledgements for its innovative leadership and technology. It was named one of the “Most Innovative Companies of 2016” by Fast Company for its work in the concussion detection space. In 2015, the Company was named a winner of the GE – NFL Head Health Challenge, receiving a grant to advance their work in the detection and quantification of mild traumatic brain injury.
For a comprehensive overview of Quanterix, please view Kevin Hrusovsky’s presentation, “Powering a Revolution in Healthcare,” from the 2016 J.P. Morgan Healthcare Conference, which can be found here: http://info.quanterix.com/watch-quanterix-jp-morgan-healthcare-presentation.
Quanterix is a developer of ground-breaking tools in high definition diagnostics. Its Simoa platform uses single molecule measurements to access previously undetectable proteins. With this unprecedented sensitivity and full automation, Simoa offers significant benefits to both research and clinical testing applications. Quanterix was established in 2007 and is located in Lexington, Massachusetts. To learn more about Quanterix and Simoa, visit: www.quanterix.com and follow@QuanterixSimoa on Twitter.