LEXINGTON, Mass.--(BUSINESS WIRE)--Quanterix Corporation, a company digitizing biomarker analysis with the goal of advancing the science of precision health, today announced that it has completed an $8.5 million private placement led by funds and accounts advised by T. Rowe Price Associates, Inc. The funding, which is a follow on to its Series D financing round of $46 million raised in March 2016, is intended to be used to develop new instruments, expand the Company’s assay menu and meet global demand for the Company’s proprietary platform across therapeutic markets.
“This additional capital further validates our opportunity and potential,” said Kevin Hrusovsky, Executive Chairman and CEO, Quanterix. “We’ve experienced rapid growth over the past two years and have raised approximately $55 million to advance Quanterix’ global reach.”
“Quanterix is an early-stage company with a compelling value proposition and unique competitive advantages,” said Ziad Bakri, portfolio manager of T. Rowe Price Health Sciences Fund, Inc. “We believe that the company is well-positioned to transform medical diagnostics and that it has the technology and management team to build a much larger company.”
The Company has also strengthened its leadership team by appointing Dr. Marijn Dekkers to its Board of Directors. Dr. Dekkers has over 30 years of experience driving high-value business growth in competitive industries, including having served as the Chief Executive Officer of Bayer AG and as Chief Executive Officer of Thermo Fisher Scientific Inc. He is currently a member of the Board of Directors at General Electric and Chairman of the Anglo-Dutch consumer goods group Unilever.
“I look forward to serving on Quanterix’ Board of Directors,” said Dr. Dekkers. “I believe Quanterix is poised to disrupt diagnostics and medical research with its unprecedented biomarker detection sensitivity.”
The Company also announced the addition of several key executives to its leadership team during the 1st half of this year, namely, Joe Driscoll as Chief Financial Officer, Brian Keane as General Counsel, Dan Sikkema as Vice President Services, David Panzerella as Vice President Sales and Suzanne Graham as Director of Communications and Marketing.
“We are excited to add another high-quality director in Dr. Dekkers to our Board of Directors, as well as these experienced executives to our leadership team, which will be fundamental as we scale our global reach, add new products and services and enable a fundamental shift in healthcare to asymptomatic medicine and precision health,” added Hrusovsky.
Quanterix is a company that is digitizing biomarker analysis with the goal of advancing the science of precision health. The company’s digital health solution, Simoa, has the potential to change the way in which healthcare is provided today by giving researchers the ability to closely examine the continuum from health to disease. Quanterix’ technology is designed to enable much earlier disease detection, better prognosis and enhanced treatment methods to improve the quality of life and longevity of the population for generations to come. The technology is currently being used for research applications in several therapeutic areas, including oncology, neurology, cardiology, inflammation and infectious disease. The company was established in 2007 and is located in Lexington, Massachusetts.