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Akoya Biosciences Inks Spatial Bio Pact With Thermo Fisher, Reports Prelim Q4 Revenue Bump

NEW YORK – Akoya Biosciences said on Sunday that it has entered into a license and distribution agreement with Thermo Fisher Scientific for spatial biology systems and reagents.

The agreement enables Marlborough, Massachusetts-based Akoya to market a combination of its spatial biology products, including its PhenoImager systems and PhenoCode reagents, with Thermo Fisher's ViewRNA in situ hybridization assays.

The combined products will provide customers with a streamlined workflow for whole-slide, multiomic imaging of protein and RNA biomarkers in tissue samples, thus providing a more comprehensive understanding of tumor progression and enabling the development of more accurate biomarker signatures, Akoya said.

Separately, Akoya said that its revenues for the fourth quarter ended Dec. 31 are expected to be between $25.5 million and $26.5 million compared to $21.2 million for the prior-year quarter.

Akoya expects full-year 2023 revenue to be in the range of $95.6 million and $96.6 million compared to $74.9 million in 2022.

"The fourth quarter of 2023 is expected to be another record revenue quarter for Akoya, demonstrating our continued business momentum and commercial execution in the rapidly growing spatial biology market," Akoya CEO Brian McKelligon said in a statement.

Akoya said it expects full-year 2024 revenue to grow approximately 20 percent year over year.

As of Dec. 31, Akoya had an estimated $83 million to $85 million in cash, cash equivalents, and restricted cash.