Quanterix Corporation, a company fueling scientific discovery through ultra-sensitive biomarker detection, announced that it has completed its previously announced acquisition of Akoya Biosciences, Inc., establishing a scaled leader in the early detection of disease for the neurology, oncology and immunology markets.

Under the terms of the amended merger agreement announced on April 29^th, Quanterix issued approximately 7.8 million shares of its common stock and paid approximately $20 million in cash, in the aggregate, to holders of Akoya shares and other Akoya equity awards.

Masoud Toloue, PhD, Chief Executive Officer of Quanterix, said, “The acquisition of Akoya positions us to deliver comprehensive protein biomarker solutions that leverage signatures in blood and tissue, together providing a more holistic and predictive view of a patient’s disease.  This transaction extends our portfolio into new markets and is expected to expand our served addressable market from $1 billion to $5 billion.  We believe the combined business will benefit from significant scale, a strong balance sheet and an accelerated path to profitability by 2026.”

Board and Management Appointments

As previously announced, Masoud Toloue and Vandana Sriram will continue to serve as Chief Executive Officer and Chief Financial Officer of the combined company.

Pursuant to the terms of the merger agreement, Akoya designated two of its directors, Scott Mendel and Myla Lai-Goldman, MD, to join the Quanterix Board of Directors, and Quanterix appointed Mr. Mendel and Dr. Lai-Goldman to its Board of Directors, effective at the closing of the transaction.  Mr. Mendel brings over 30 years of financial and operational experience, most recently having served as CEO and President of GenMark Diagnostics.  Dr. Lai-Goldman is a pioneer and leader in the diagnostics industry and has held various leadership roles at Labcorp and its predecessor company, Roche Biomedical Laboratories.  

Mr. Mendel and Dr. Lai-Goldman will replace Martin D. Madaus, PhD, and Sarah Hlavinka, who have resigned from the Quanterix Board of Directors as of immediately prior to the closing of the transaction. Quanterix thanks Dr. Madaus and Ms. Hlavinka for their numerous contributions and dedication to the Company.