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Quanterix Raises $2.5M in Financing Round Targeting $5M

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Diagnostics firm Quanterix has raised $2.5 million in a financing round targeting $5 million, it disclosed in a document filed with the US Securities and Exchange Commission this week.

The offering, which dates its first sale to Sept. 28, is in the form of options, warrants, or rights to acquire another security and is expected to last no longer than one year. As of Oct. 11, nine investors had invested in the offering, the company said.

The company launched in 2007 and raised $15 million in venture capital over 2007 and 2008. Its primary technology is its Single Molecule Array – an array platform using femtoliter-sized reaction chambers designed to isolate single molecules, enabling each well to serve effectively as an independent assay for a single molecule. A detection system consisting of an optical fiber bundle to carry light in and out of each well, a proprietary image-capture device, and image-analysis software allow researchers to observe these assays on the single-molecule level.

According to the company, the SiMoA format enables significantly improved detection and measurement of low-concentration proteins, offering sensitivity 1,700 times greater than that offered by conventional ELISA-based immunoassays.

It is currently developing a test on the platform to detect prostate-specific antigen in the blood of radical prostatectomy patients, which it plans to launch as a laboratory-developed test in 2011. It is also working on a blood-based protein biomarker diagnostic for Alzheimer's disease that it plans to bring to market in 2012 (06/11/2010).

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