Quanterix Corporation (QTRX), a leader in ultra-sensitive biomarker detection, has completed its acquisition of Akoya Biosciences, Inc., a strategic move that positions the combined company as a leading force in early disease detection across neurology, oncology, and immunology.
Per the amended merger agreement announced on April 29, Quanterix issued approximately 7.8 million shares of its common stock and paid around $20 million in cash to Akoya shareholders and equity holders. The acquisition is expected to expand Quanterix's total addressable market from $1 billion to $5 billion by integrating blood and tissue-based biomarker solutions for a more comprehensive disease detection platform.
Quanterix CEO Masoud Toloue stated that the combined business is set to gain operational scale, maintain a strong balance sheet, and is on track for profitability by 2026.
As part of the merger, Akoya has appointed two board members—Scott Mendel and Dr. Myla Lai-Goldman—to Quanterix's Board of Directors, replacing Martin D. Madaus, PhD, and Sarah Hlavinka, who resigned upon closing. Mendel brings over three decades of financial and executive leadership, while Lai-Goldman is a seasoned diagnostics industry leader with experience at Labcorp and Roche Biomedical.
Following the close of the transaction, Quanterix reported approximately $163 million in cash, net of Akoya's debt repayment and deal-related expenses.
Tuesday QTRX closed at $6.54, or 3.81% higher, on the NasdaqGM.
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