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The firm sold more than 4.9 million shares of common stock at $15 per share, raising $73.7 million to expand its commercial operations and grow its technology.

Quanterix Plans IPO

The firm plans to use the proceeds to expands its commercial operations, expand its existing technology, and support the launch of its new platform.

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. 

ImmunArray will use Quanterix's Simoa single-molecule array technology for biomarker analysis, with the potential to enrich its diagnostic panels.

The company will develop the assays for its single-molecule array technology and incorporate the markers into multiplex assays for research use in neurology.

Three new investors joined existing investors in leading the round, which will fund desktop instrument development, international sales, and assay menu expansion.

As Quanterix continues to grow its business, quantifying proteins in single cells could drive its sales in the academic market, CEO Kevin Hrusovsky said.

The firm has signed an exclusive agreement for China with Cold Spring Biotech and a deal for Singapore, Thailand, and Malaysia with Research Instruments.

The firm has re-engineered hardware and redesigned software to improve its single-molecule array platform and has increased its multiplexing capabilities.

Quanterix has won a second GE NFL Head Health Challenge I grant and will use it to develop diagnostics with biomarkers discovered under the first grant.

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The New York Times reports that researchers are combining tools to more quickly develop crops to feed a growing population and cope with shifting climates.

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