Quanterix Completes Acquisition of Akoya Biosciences to Expand Biomarker Capabilities

Quanterix closed the acquisition of Akoya Biosciences

Image Credits: BioPharma APAC

Announcement

Quanterix Corporation, a leading company with its core scientific discovery via an ultra-sensitive biomarker identifier, has completed its previous acquisition of Akoya Biosciences Inc., a leader in the early detection of diseases for the immunology, neurology, and oncology markets. After this completion, Quanterix will move forward with its strategy and discoveries. Further, the new members will be entering through the agreement to navigate and explore the valuable or additional insights of Quanterix. This will also help Quanterix, as the exchange of knowledge leads to a better understanding and addresses the need for innovation to sustain any new development in the healthcare market. The official completion of this acquisition will unlock various opportunities in the rapidly growing healthcare market that also seeks innovation in suitable healthcare areas.

Agreement

The terms of the amended merger agreement dated, 29th of April confirm that Quanterix has issued 7.8 million shares of its common stock and has paid around $20 million in cash to the holders of Akoya equity awards and shares. Vandana Sriram and Masoud Toloue will continue as the chief executive officer and chief financial officer of this allied company.

Under the merger agreement, Akoya positioned two of its directors, Myla Lai-Goldman, MD, and Scott Mendel, on Quanterix’s board and directors. Quanterix hired Dr. Lai-Goldman and Mr. Mendel as members of the board and directors. Mr. Mendel holds 30 years of operational and financial experience and has recently worked as the CEO and president of GenMark Diagnostics. Dr. Lai-Goldman is a known leader in the diagnostic industry and has proven their leadership contribution at Roche Biomedical Laboratories and the predecessor company.

These two new members will replace Sarah Hlavinka and Martin D. Madaus, PHD, who have submitted a resignation email and are no longer part of Quanterix’s board of directors. Further, Quanterix thanks these former members for their valuable support to the company.

Views and Statements

Chief Executive Officer of Quanterix, Phd, Masoud Toloue said, “The acquisition of Dakoya leads us to serve the protein biomarker solutions that accelerate signatures in tissue and blood. This combination shows a predictive and clear view of the patient’s diseases. This transaction expands our company’s portfolio in the new markets. The company is expecting the growth of the market from $1 billion to $5 billion. We feel that the compiling business will strengthen our balance sheet and leverage profit criteria by 2026.”