Quanterix Raises $46 Million in Series D Financing

Lexington, Mass.-based Quanterix Corporation, which provides ultrasensitive single molecule testing capabilities, has secured $46 million in Series D funding from both new and existing investors. This infusion of capital will allow Quanterix to build on the significant growth realized in the last two years. Proceeds will be used to develop desk-top instruments, expand the assay menu for protein and nucleic acid biomarkers, bolster the global channel to market and enable new, pivotal medical studies to be performed with Quanterix’s technology. The company plans to expand into the oncology, neurology, cardiology, inflammation, and infectious disease markets.

The financing round was led by three new strategic investors, ARCH Overage Fund, Cormorant Asset Management and Trinitas Capital, with continued participation from existing investors, ARCH Venture Partners, Bain Capital Ventures, Tufts University and Dr. David Walt. Hercules Capital, Inc. also participated in the round. The introduction of these marquis crossover investors, in addition to participation from current investors in a material valuation “up-round,” reinforces the potential for Quanterix to expand its product portfolio.

“Quanterix has experienced six consecutive quarters of 100 percent growth, validating the important impact our technology is making in life science research and centralized or distributed diagnostics,” said Kevin Hrusovsky, executive chairman and CEO, Quanterix. “Our growth has been across all fields of medicine, including oncology, neurology, inflammation, immunology, cardiac, and infectious diseases. With the proceeds from this raise, we will launch desktop instruments in 2017, develop 60 new assays by the end of 2016 and further expand our global reach. Also, based on recent impressive publications from industry researchers, we are increasing our focus on oncology and the field of liquid biopsies.”

“Quanterix is transforming both research and diagnostics for brain injuries, heart disease, cancer and other diseases with its ultra-sensitive technology that helps researchers access information otherwise not reliably attainable,” said Bihua Chen, managing member and CEO of Cormorant Asset Management. “We are excited to invest in Quanterix and its mission to advance personalized medicine and ultimately help patients directly manage their diseases.”