private financing

The company is preparing to launch its first product, an application for DNA sequencing alignment based on its high-performance computing processor technology.

The financing follows Cofactor's launch of Pinnacle, an RNA-based oncology assay and the company's first product since a strategic refocusing.

The firm plans to use the funding to expand commercial sales efforts, advance CDx partnerships, build its regulatory infrastructure, and explore new R&D avenues.

The company said that the funds will allow it to take its ReadyPlex rapid blood group genotyping assays into clinical trials and commercialization.

The funding was led by T. Rowe Price and will be used by Quanterix to develop new instruments, expand the firm's assay menu, and other things. 

The company is expecting $14.3 million in Q2 revenues, a 157 percent increase over the same quarter last year.

The financing will go toward efforts by the German firm to bring its point-of-care screening system for drug-resistant bacteria to hospitals. 

The company expects to offer the shares in the US through a syndicate of agents led by Haywood Securities and including Industrial Alliance Securities.

The new funding brings the total that the firm has raised in its history to €23 million, including €16 million in equity, and €7 million in debt instruments.

The clinical diagnostics company will use the funds to invest in a new UK-based manufacturing facility and to accelerate global growth.