Quanterix to Acquire Akoya Biosciences, Creating the First Integrated Solution for Ultra-Sensitive Detection of Blood- and Tissue-Based Protein Biomarkers
Quanterix (NASDAQ: QTRX) has announced a definitive merger agreement to acquire Akoya Biosciences (NASDAQ: AKYA) in an all-stock transaction, creating the first integrated platform for detecting blood- and tissue-based protein biomarkers. Under the agreement, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each Akoya share, representing a 19% premium.
The combined entity expects to generate $40 million in annual cost synergies by 2026, with $20 million realized within the first year post-closing. The merged company will have approximately $175 million in cash at closing with no debt, and a combined trailing 12-month revenue of about $220 million as of September 2024.
The transaction is expected to close in Q2 2025, with Quanterix shareholders owning 70% and Akoya shareholders 30% of the combined company. The merger aims to accelerate biomarker translation from research to clinic and expand technology offerings across neurology, oncology, and immunology markets.
Quanterix (NASDAQ: QTRX) ha annunciato un accordo di fusione definitivo per acquisire Akoya Biosciences (NASDAQ: AKYA) in una transazione completamente in azioni, creando la prima piattaforma integrata per la rilevazione di biomarcatori proteici nel sangue e nei tessuti. Sotto l'accordo, gli azionisti di Akoya riceveranno 0,318 azioni ordinarie di Quanterix per ogni azione Akoya, rappresentando un premio del 19%.
L'entità combinata prevede di generare 40 milioni di dollari in sinergie annuali costi entro il 2026, con 20 milioni realizzati nel primo anno dopo la chiusura. La società fusa avrà circa 175 milioni di dollari in contante al momento della chiusura senza debiti, e un fatturato combinato degli ultimi 12 mesi di circa 220 milioni di dollari a settembre 2024.
La transazione dovrebbe concludersi nel Q2 2025, con gli azionisti di Quanterix che possederanno il 70% e gli azionisti di Akoya il 30% della società combinata. La fusione mira ad accelerare la traduzione dei biomarcatori dalla ricerca alla clinica e ad ampliare l'offerta tecnologica nei mercati della neurologia, oncologia e immunologia.
Quanterix (NASDAQ: QTRX) ha anunciado un acuerdo de fusión definitivo para adquirir Akoya Biosciences (NASDAQ: AKYA) en una transacción totalmente en acciones, creando la primera plataforma integrada para la detección de biomarcadores proteicos en sangre y tejidos. Según el acuerdo, los accionistas de Akoya recibirán 0.318 acciones ordinarias de Quanterix por cada acción de Akoya, lo que representa una prima del 19%.
La entidad combinada espera generar 40 millones de dólares en sinergias de costos anuales para 2026, con 20 millones realizados en el primer año posterior al cierre. La empresa fusionada tendrá aproximadamente 175 millones de dólares en efectivo al cierre sin deudas, y unos ingresos combinados de los últimos 12 meses de aproximadamente 220 millones de dólares a partir de septiembre de 2024.
Se espera que la transacción se cierre en el segundo trimestre de 2025, con los accionistas de Quanterix poseyendo el 70% y los accionistas de Akoya el 30% de la empresa combinada. La fusión tiene como objetivo acelerar la traducción de biomarcadores de la investigación a la clínica y ampliar la oferta tecnológica en los mercados de neurología, oncología e inmunología.
Quanterix (NASDAQ: QTRX)는 Akoya Biosciences (NASDAQ: AKYA)를 전량 주식 거래로 인수하기 위한 최종 합병 계약을 발표하며, 혈액 및 조직 기반 단백질 바이오마커를 검출하기 위한 최초의 통합 플랫폼을 만듭니다. 계약에 따라 Akoya 주주들은 Akoya 주식 1주당 Quanterix 보통주 0.318주를 받게 되며, 이는 19%의 프리미엄을 나타냅니다.
합병된 회사는 2026년까지 연간 4천만 달러의 비용 시너지를 창출할 것으로 예상하며, 첫 해에 2천만 달러가 실현될 것입니다. 합병 회사는 마감 시점에 약 1억 7천 5백만 달러의 현금을 보유하고 있으며, 부채는 없고, 2024년 9월 기준으로 약 2억 2천만 달러의 매출이 예상됩니다.
이 거래는 2025년 2분기에 종료될 것으로 예상되며, Quanterix 주주들이 결합된 회사의 70%를 소유하고 Akoya 주주들이 30%를 보유하게 됩니다. 이번 합병은 바이오마커 연구 결과를 클리닉으로의 번역을 가속화하고 신경학, 종양학 및 면역학 시장에서의 기술 제공을 확장하는 것을 목표로 합니다.
Quanterix (NASDAQ: QTRX) a annoncé un accord de fusion définitif pour acquérir Akoya Biosciences (NASDAQ: AKYA) dans le cadre d'une transaction entièrement en actions, créant ainsi la première plateforme intégrée pour la détection des biomarqueurs protéiques d'origine sanguine et tissulaire. Selon l'accord, les actionnaires d'Akoya recevront 0,318 action ordinaire de Quanterix pour chaque action d'Akoya, représentant une prime de 19%.
L'entité combinée prévoit de générer 40 millions de dollars de synergies annuelles de coûts d'ici 2026, avec 20 millions réalisés au cours de la première année après la clôture. La société fusionnée disposera d'environ 175 millions de dollars en liquide lors de la clôture, sans dettes, et d'un chiffre d'affaires combiné des douze derniers mois d'environ 220 millions de dollars en septembre 2024.
La transaction devrait être finalisée au cours du deuxième trimestre 2025, avec les actionnaires de Quanterix détenant 70% et ceux d'Akoya 30% de la société combinée. La fusion vise à accélérer la traduction des biomarqueurs de la recherche à la clinique et à élargir l'offre technologique dans les marchés de la neurologie, de l'oncologie et de l'immunologie.
Quanterix (NASDAQ: QTRX) hat eine endgültige Fusionsvereinbarung bekannt gegeben, um Akoya Biosciences (NASDAQ: AKYA) in einer vollwertigen Aktienübernahme zu erwerben, wodurch die erste integrierte Plattform zur Erkennung von blut- und gewebe-basierten Proteinbiomarkern geschaffen wird. Laut der Vereinbarung erhalten die Akoya-Aktionäre 0,318 Aktien von Quanterix für jede Akoya-Aktie, was einer Prämie von 19% entspricht.
Die fusionierte Gesellschaft erwartet, bis 2026 40 Millionen Dollar an jährlichen Kostensynergien zu erzielen, wobei in den ersten Jahr nach dem Abschluss 20 Millionen Dollar realisiert werden. Das fusionierte Unternehmen wird zum Zeitpunkt des Abschlusses etwa 175 Millionen Dollar in bar ohne Schulden haben und einen kombinierten Umsatz von etwa 220 Millionen Dollar für die letzten 12 Monate bis September 2024 erwirtschaften.
Die Transaktion wird voraussichtlich im 2. Quartal 2025 abgeschlossen, wobei die Aktionäre von Quanterix 70% und die Aktionäre von Akoya 30% des kombinierten Unternehmens besitzen werden. Die Fusion zielt darauf ab, die Übersetzung von Biomarkern von der Forschung in die Klinik zu beschleunigen und das Technologieangebot in der Neurologie, Onkologie und Immunologie zu erweitern.
- Expected $40M annual cost synergies by 2026
- Combined trailing 12-month revenue of $220M
- Strong cash position of $175M with no debt at closing
- Access to $5B serviceable addressable market
- Combined 2,300 instrument install-base
- Path to positive free cash flow in 2026
- Integration risks and execution challenges
- No immediate profitability until 2026
- Shareholder dilution for existing Quanterix stockholders
Insights
This strategic merger marks a pivotal transformation in the biomarker detection space. The all-stock transaction values Akoya at a 19% premium, with Quanterix shareholders retaining 70% ownership of the combined entity. The deal's financial structure is particularly compelling with
Key financial metrics showcase the deal's strength: $220 million in trailing 12-month revenue, projected
The merger positions Quanterix to tap into a
This merger represents a groundbreaking integration of complementary diagnostic technologies. Quanterix's ultra-sensitive SIMOA platform for blood biomarker detection combined with Akoya's spatial biology expertise creates an unprecedented capability to track disease progression from tissue to blood - essentially building a bridge between traditional tissue biopsies and the emerging field of liquid biopsies.
The technological synergy is particularly valuable in three key areas:
- Early disease detection through non-invasive methods
- Enhanced diagnostic accuracy through multi-modal biomarker analysis
- Improved treatment monitoring capabilities across various diseases
The integration of spatial biology with ultra-sensitive protein detection could revolutionize how we approach disease diagnosis and monitoring, particularly in complex areas like neurodegeneration and cancer. This combined platform could significantly accelerate biomarker translation from research to clinical applications.
The merger strategically positions the combined entity at the forefront of the rapidly evolving liquid biopsy market, which is projected to surpass traditional diagnostics in size. The deal's timing is particularly astute given the growing demand for integrated diagnostic solutions and the increasing importance of early disease detection.
Market advantages include:
- Expanded presence in both research and clinical diagnostics markets
- Enhanced competitive positioning through complementary technology offerings
- Strengthened market penetration in key therapeutic areas
The CLIA-certified lab services expansion and entry into companion diagnostics represent significant growth vectors. With established clinical partnerships and an extensive customer base, the combined entity is well-positioned to capture market share in both research and clinical segments, particularly in high-value areas like Alzheimer's disease diagnostics.
Complementary offerings will accelerate translation of biomarkers from research to the clinic driving new growth
Expanded customer relationships and continuum of solution offerings maximize cross-selling opportunities across translational, academic and pharma applications
Expects to generate approximately
Combined cash position of approximately
“Liquid biopsy will eventually surpass the market size of all other diagnostics testing combined. Enabling early disease detection, before symptoms appear, using non-invasive methods is our mission and will be the majority of Quanterix's long-term value," said Masoud Toloue, PhD, Chief Executive Officer of Quanterix. “This transaction accelerates our progress by creating the first platform that lets researchers and clinicians track disease progression from tissue to blood. By starting with tissue and detecting early signs of complementary proteins in blood using leading ultra-sensitive SIMOA technology, we are uniquely positioned to speed up market development of new liquid biopsy tests.”
Brian McKelligon, Chief Executive Officer of Akoya, said, “Joining forces with Quanterix marks a pivotal step in our journey to revolutionize the way we understand and treat disease. We are thrilled to be part of an established leader in the life science tools and diagnostics market that not only strengthens our presence in critical markets but also accelerates our ability to scale, innovate and ultimately bring to market products that impact human health. With the capital structure and significant synergies facilitated through this transaction, the combined company is well-positioned for future growth and profitability. We look forward to being part of the Quanterix team to better serve the needs of researchers and clinicians and bring substantial value to our customers and shareholders.”
Strategic and Financial Benefits of the Combination
- Creates first integrated solution for liquid and tissue proteomic biomarkers: The integration of Akoya’s spatial biology capabilities in tissue with Quanterix’s advanced tools for the ultra-sensitive detection of biomarkers in blood will establish the first fully integrated technology ecosystem to identify and measure biomarkers across tissue and blood. Quanterix will be better positioned to serve research customers and ultimately clinicians with a broader set of technologies to improve diagnostic relevance and accuracy and enhance patient outcomes through biomarker-driven treatment decisions.
-
Expands technology offering across high growth markets in neurology, oncology and immunology: With Quanterix’s industry-leading position in neurology and Akoya’s focus within oncology and immunology, Quanterix will expand its technology offerings across these high-growth markets. The addition of Akoya’s cutting-edge spatial biology capabilities will enable Quanterix to capitalize on growth opportunities in a
$5 billion - Expanded lab services and clinical diagnostic market opportunity: Leveraging Akoya’s established clinical partnerships and CLIA-certified lab services, Quanterix is now strategically positioned to drive significant value creation through an expanded portfolio of lab service offerings. This collaboration establishes a clear path for Quanterix to participate in the rapidly emerging spatial biology clinical market, particularly in oncology.
- Increases commercial reach and maximizes cross-selling opportunities: Quanterix and Akoya have complementary offerings and deep customer relationships across discovery, translational, and clinical research. When offered as an integrated solution, Quanterix expects significant cross-selling opportunities to a combined 2,300 instrument install-base driving strong double-digit organic revenue growth in 2026.
-
Accelerates path to profitability through realization of substantial cost savings: The transaction is expected to generate approximately
$40 million $20 million -
Significant combined cash balance: For the trailing 12 months ending September 30, 2024, the combined company generated revenue of approximately
$220 million $300 million $175 million $20 million
Transaction Terms
Under the terms of the agreement, which was approved by the Boards of Directors of both companies, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each share of Akoya common stock owned. This represents a
Following the close of the transaction, Quanterix shareholders will own approximately
Timing, Approvals and Governance
The transaction is expected to close in the second quarter of 2025, subject to approval by both companies’ shareholders, expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and satisfaction of other customary closing conditions.
Quanterix has entered into voting agreements supporting the transaction with certain shareholders owning more than
Following close, Masoud Toloue will serve as Chief Executive Officer and Vandana Sriram will serve as Chief Financial Officer. The combined company will continue to operate under the Quanterix name.
Upon closing, the Quanterix Board will consist of nine members. Two current Quanterix directors will resign, and Quanterix will appoint two directors designated by Akoya from their current Board.
Conference Call and Webcast
Quanterix will host a conference call and webcast today at 8:30 a.m. E.T. to discuss the transaction. For audio, use the following dial-in number and passcode:
Advisors
Goldman Sachs & Co. LLC is serving as financial advisor to Quanterix and Covington & Burling LLP is serving as its legal counsel. Perella Weinberg Partners LP is serving as financial advisor to Akoya and DLA Piper LLP is serving as its legal counsel.
About Quanterix
From discovery to diagnostics, Quanterix’s ultrasensitive biomarker detection is fueling breakthroughs only made possible through its unparalleled sensitivity and flexibility. The Company’s Simoa® technology has delivered the gold standard for earlier biomarker detection in blood, serum or plasma, with the ability to quantify proteins that are far lower than the Level of Quantification (LoQ). Its industry-leading precision instruments, digital immunoassay technology and CLIA-certified Accelerator laboratory have supported research that advances disease understanding and management in neurology, oncology, immunology, cardiology and infectious disease. Quanterix has been a trusted partner of the scientific community for nearly two decades, powering research published in more than 3,100 peer-reviewed journals.
About Akoya Biosciences
As The Spatial Biology Company®, Akoya Biosciences’ mission is to bring context to the world of biology and human health through the power of spatial phenotyping. The Company offers comprehensive single-cell imaging solutions that allow researchers to phenotype cells with spatial context and visualize how they organize and interact to influence disease progression and response to therapy. Akoya offers a full continuum of spatial phenotyping solutions to serve the diverse needs of researchers across discovery, translational and clinical research: PhenoCode™ Panels and PhenoCycler®, PhenoImager® Fusion and PhenoImager® HT Instruments. To learn more about Akoya, visit www.akoyabio.com.
IMPORTANT ADDITIONAL INFORMATION
In connection with the proposed transaction, Quanterix will file with the
PARTICIPANTS IN THE SOLICITATION
Quanterix and Akoya and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Quanterix or Akoya in respect of the proposed transaction. Information about Quanterix’s directors and executive officers is available in Quanterix’s proxy statement dated April 15, 2024, for its 2024 Annual Meeting of Stockholders, and other documents filed by Quanterix with the SEC. Information about Akoya’s directors and executive officers is available in Akoya’s proxy statement dated April 23, 2024, for its 2024 Annual Meeting of Stockholders, and other documents filed by Akoya with the SEC. Other information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when they become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from Quanterix or Akoya as indicated above.
NO OFFER OR SOLICITATION
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the proposed merger of Quanterix and Akoya, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Statements included in this communication which are not historical in nature or do not relate to current facts are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on, among other things, projections as to the anticipated benefits of the proposed transaction as well as statements regarding the impact of the proposed transaction on Quanterix’s and Akoya’s business and future financial and operating results, the amount and timing of synergies from the proposed transaction and the closing date for the proposed transaction. Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. Quanterix and Akoya caution readers that forward-looking statements are subject to certain risks and uncertainties that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks and uncertainties include, among others, the following possibilities: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement entered into between Quanterix and Akoya; the outcome of any legal proceedings that may be instituted against Quanterix or Akoya; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction) and stockholder approvals or to satisfy any of the other conditions to the proposed transaction on a timely basis or at all; the possibility that the anticipated benefits and synergies of the proposed transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Quanterix and Akoya do business; the possibility that the proposed transaction may be more expensive to complete than anticipated; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; changes in Quanterix’s share price before the closing of the proposed transaction; risks relating to the potential dilutive effect of shares of Quanterix common stock to be issued in the proposed transaction; and other factors that may affect future results of Quanterix, Akoya and the combined company. Additional factors that could cause results to differ materially from those described above can be found in Quanterix’s Annual Report on Form 10-K for the year ended December 31, 2023, as amended, Akoya’s Annual Report on Form 10-K for the year ended December 31, 2023, and in other documents Quanterix and Akoya file with the SEC, which are available on the SEC’s website at www.sec.gov.
All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by the cautionary statements contained or referred to herein. If one or more events related to these or other risks or uncertainties materialize, or if Quanterix’s or Akoya’s underlying assumptions prove to be incorrect, actual results may differ materially from what Quanterix and Akoya anticipate. Quanterix and Akoya caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and are based on information available at that time. Neither Quanterix nor Akoya assumes any obligation to update or otherwise revise any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250110529120/en/
Quanterix Contacts
Media
Marissa Klaassen
media@quanterix.com
Or
Jim Golden / Tali Epstein
Collected Strategies
QTRX-CS@collectedstrategies.com
Investor Relations
Joshua Young
ir@quanterix.com
Akoya Contacts
Media
Christine Quern
media@akoyabio.com
Investors
Priyam Shah
investors@akoyabio.com
Source: Quanterix Corporation
FAQ
What is the exchange ratio for Akoya shares in the QTRX acquisition?
How much cost synergy does Quanterix expect from the Akoya acquisition?
When will the QTRX-Akoya merger close?
What will be the ownership structure after the QTRX-Akoya merger?
What is the combined revenue of QTRX and Akoya?
