Investment in new products, menu and globalization coupled with 60 percent revenue growth positions Quanterix for a “breakout” 2017; CEO wins Healthcare Innovation All-Star Award
LEXINGTON, Mass., January 9, 2017 -- Quanterix Corporation, a company digitizing biomarker analysis to advance the science of precision health, today announced significant milestones that are shaping the future of the company’s technology, driving global expansion of its customer and partner portfolio, and fueling research that advances the science of precision health.
Driven by a $46 million capital raise in 2016 with a post-money valuation of over $200M, Quanterix has made material progress in commercializing its disruptive digital biomarker platform. Key to the rapid global adoption was increasing its application reach by doubling the number of assays available in 2016, including 31 new assay kits focused on several therapeutic areas, such as oncology, neurology, cardiology, infectious disease and inflammation. Oncology, inflammation and neurology will remain a key focus for menu expansion in 2017.
Quanterix continues to experience rapid growth, with a 60 percent increase in revenue this past year, and a 300 percent increase over the past three years. In 2016, the company's consumables revenue increased by 70 percent and its Simoa Accelerator Lab services grew by over 100 percent. In 2017, Quanterix will launch a new benchtop reader to complement its floor standing instrument and will introduce several updates to its current instruments to enhance research versatility and drug discovery innovation and pre-clinical and clinical development.
“Our rapid growth, coupled with the addition of several seasoned veterans to our management team and over 90 third-party scientific publications, highlights our progress in Research markets,” said Kevin Hrusovsky, CEO and Executive Chairman, Quanterix. “We look forward to continuing this momentum in Research markets as we reconfigure and reinvigorate our compelling diagnostics opportunity in 2017.”
At the helm of Quanterix, Hrusovsky was recently named the 2017 Healthcare Innovation All-Star by The Boston Business Journal as a result of his leadership and industry vision. Hrusovsky teamed up with leading authorities in medicine to form the Powering Precision Health (PPH) Summit, dedicated to transforming today’s healthcare into tomorrow’s precision health paradigm of early detection and disease prevention. The Summit attracted top innovators in medicine, including leading physicians, researchers, scientists, innovators, investors, policymakers and patient advocates. The inaugural Summit was held this past Fall, and representatives from Pfizer, Takeda Pharmaceuticals, Merck,Biogen, Dana-Farber, Boston Children’s Hospital, Massachusetts General Hospital, Foundation Medicine, Boston University, Harvard, NFL, Susan Komen Foundation and the National Institutes of Health (NIH) participated with numerous presentations leveraging Quanterix’ technology. Quanterix was the lead sponsor of the event.
Quanterix is a company that’s digitizing biomarker analysis to advance the science of precision health. The company’s digital health solution, Simoa, is changing the way in which healthcare is provided today by giving researchers the ability to closely examine the continuum from health to disease. In doing so, Quanterix enables much earlier disease detection, better prognoses and enhanced treatment methods to improve the quality of life and longevity of the population for generations to come. The technology is currently being used for applications in a majority of therapeutic areas, including oncology, neurology, cardiology, inflammation and infectious disease. The company was established in 2007 and is located in Lexington, Massachusetts.