- Quanterix (QTRX, Financial) has successfully completed the acquisition of Akoya Biosciences.
- The merger is expected to expand Quanterix's addressable market from $1 billion to $5 billion.
- Key leadership changes have been announced following the acquisition.
Quanterix Corporation (QTRX), a leader in ultra-sensitive biomarker detection, has announced the completion of its acquisition of Akoya Biosciences, Inc. This strategic move positions Quanterix as a scaled leader in the early detection of diseases across the neurology, oncology, and immunology markets.
Under the terms of the merger agreement, Quanterix issued approximately 7.8 million shares of its common stock and paid about $20 million in cash to holders of Akoya shares and other equity awards. With this acquisition, Quanterix aims to deliver comprehensive protein biomarker solutions, utilizing signatures in both blood and tissue, thus providing a holistic view of patient health.
The acquisition significantly extends Quanterix's market reach, increasing its served addressable market from $1 billion to an estimated $5 billion. CEO Masoud Toloue highlighted the expected scale benefits and accelerated path to profitability by 2026 due to the merger.
In terms of corporate governance, Akoya has appointed two directors, Scott Mendel and Myla Lai-Goldman, MD, to the Quanterix Board of Directors. Both appointees bring extensive industry and leadership experience to their new roles. As of the transaction's closing, Quanterix had approximately $163 million in cash, following the repayment of Akoya's debt and related transaction costs.
This acquisition marks a significant milestone for Quanterix as it continues to advance its position in the medical device sector, particularly in laboratory analytical instruments.
