Quantum-Si Adds Distributor ELTA 90 as Demand for Platinum™ Grows

Rhea-AI Summary

Quantum-Si Incorporated (Nasdaq: QSI) has announced a distribution agreement with Elta 90 to distribute its Platinum™ instrument and consumables in Southeast Europe. This partnership aims to meet the growing demand for next-generation protein sequencing™ platform, which offers single-molecule amino acid resolution. The agreement is expected to accelerate scientific research and expand the field of proteomics, making the technology more accessible to scientists in every lab, everywhere.

BRANFORD, Conn.--(BUSINESS WIRE)-- Quantum-Si Incorporated (Nasdaq: QSI) (“Quantum-Si,” “QSI” or the “Company”), The Protein Sequencing Company™, today announced that it had entered into an agreement with Elta 90 to distribute Quantum-Si’s groundbreaking Platinum™ instrument and consumables in Southeast Europe as demand grows for the first of its kind next-generation protein sequencing™ platform.

This agreement between Quantum-Si and ELTA 90 holds immense promise for accelerating scientific research by delivering the game changing tool, Platinum, which interrogates proteins with single-molecule amino acid resolution.

“We are thrilled to partner with ELTA 90 in this venture. The synergy between Quantum-Si and ELTA 90 represents a major stride toward expanding the field of proteomics,” explained Quantum-Si Chief Executive Officer Jeff Hawkins. “This partnership will make our affordable, benchtop instrument even more accessible, putting Platinum’s unique technology within arm’s reach of scientists in every lab, everywhere.”

“ELTA 90 is once again on the threshold of an exciting, new journey. We look forward to working with Quantum-Si to unleash the power of next-generation protein sequencing™ in labs throughout Southeast Europe,” expressed Theodor Zamfirov, M.D., Chief Executive Officer of ELTA 90. “Together, we’re poised to redefine the boundaries of science and innovation, creating a brighter future for researchers.”

About Quantum-Si Incorporated

Quantum-Si, The Protein Sequencing Company™, is focused on revolutionizing the growing field of proteomics. The Company's suite of technologies is powered by a first-of-its-kind semiconductor chip designed to enable next-generation single-molecule protein sequencing and digitize proteomic research in order to advance drug discovery and diagnostics beyond what has been possible with DNA sequencing. Learn more at www.quantum-si.com

About ELTA 90

ELTA 90, a Bulgarian company establishment in 1999, has consistently proven its commitment to innovation and the advancement of science. ELTA 90 offers a wide range of high-quality laboratory equipment, reagents, consumables, specialized diagnostic and research tests, and laboratory furniture. ELTA 90’s unwavering dedication to providing complete solutions in immunology, clinical laboratory, microbiology, virology, and rapid diagnostics has made them a trusted partner in the industry. Learn more at: www.elta90.com

Forward Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. The actual results of the Company may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations with respect to future performance and development and commercialization of products and services. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the impact of COVID-19 on the Company's business; the inability to maintain the listing of the Company's Class A common stock on The Nasdaq Stock Market; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the Company to grow and manage growth profitably and retain its key employees; our ongoing leadership transition; changes in applicable laws or regulations; the ability of the Company to raise financing in the future; the success, cost and timing of the Company's product development and commercialization activities; the commercialization and adoption of the Company’s existing products and the success of any product the Company may offer in the future; the potential attributes and benefits of the Company’s commercialized Platinum™ protein sequencing instrument and the Company’s other products once commercialized; the Company's ability to obtain and maintain regulatory approval for its products, and any related restrictions and limitations of any approved product; the Company's ability to identify, in-license or acquire additional technology; the Company's ability to maintain its existing lease, license, manufacture and supply agreements; the Company's ability to compete with other companies currently marketing or engaged in the development or commercialization of products and services that serve customers engaged in proteomic analysis, many of which have greater financial and marketing resources than the Company; the size and growth potential of the markets for the Company's products and services, and its ability to serve those markets once commercialized, either alone or in partnership with others; the Company's estimates regarding future expenses, future revenue, capital requirements and needs for additional financing; the Company's financial performance; and other risks and uncertainties described under "Risk Factors" in the Company’s Annual Report for the fiscal year ended December 31, 2022, and in the Company's other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231115504371/en/

Investors

Jeff Keyes, CFO

ir@quantum-si.com

Media

Katherine Atkinson, SVP of Commercial Marketing

media@quantum-si.com

Source: Quantum-Si Incorporated

FAQ

What is the distribution agreement announced by Quantum-Si?

Quantum-Si has entered into an agreement with Elta 90 to distribute its Platinum™ instrument and consumables in Southeast Europe.

What does the partnership aim to achieve?

The partnership aims to meet the growing demand for the next-generation protein sequencing™ platform, offering single-molecule amino acid resolution, and to accelerate scientific research.

How will the agreement impact scientific research?

The agreement is expected to expand the field of proteomics and make the technology more accessible to scientists in every lab, everywhere.

Who are the key executives involved in the partnership?

Jeff Hawkins, CEO of Quantum-Si, and Theodor Zamfirov, M.D., CEO of ELTA 90, are the key executives involved in the partnership.