Quanterix Expands in Diagnostics With $46M in New Cash

A quick update on a life sciences company we’ve been watching for years. Lexington, MA-based Quanterix has secured $46 million in Series D financing, led by new investors Arch Overage Fund, Cormorant Asset Management, and Trinitas Capital.

Some of the company’s previous investors—Arch Venture Partners, Bain Capital Ventures, Tufts University, and co-founder David Walt (a founder of Illumina)—also participated in the round. Quanterix says its post-money valuation is more than $200 million.

“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,” Quanterix CEO Kevin Hrusovsky said in a statement.

Quanterix has come a long way since its founding in 2007. The company was working on early detection of things like cancer and neurological diseases through its single-molecule testing system that measures trace quantities of proteins in the blood.

Quanterix has since expanded into other areas such as cardiology, inflammation, immunology, and infectious diseases. After several rounds of leadership changes, its technology seems to be gaining some traction in both research and diagnostic settings. Hrusovsky said the company has had “six consecutive quarters of 100 percent growth.”

Author: Gregory T. Huang

Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003. Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.