Disrupting The Ultimate Healthcare Symposium
By Kevin Hrusovsky, President, Chairman And CEO Quanterix
The 36th annual J.P Morgan Healthcare conference took over San Francisco earlier this month. With more than 10,000 attendees, representing more than 450 private and public companies, the event is the largest healthcare investment symposium in the industry. This year’s event was keynoted by leading industry executives, including Bill Gates. Bill inspired the attendees as he showcased some of the accomplishments that the Bill & Melinda Gates Foundation has achieved this year, including progress lowering child mortality rates and combating diseases that disproportionately affect people in developing and third world countries. He specifically called out Bob Nelsen from Arch (one of our founding owners) as being one of the most prolific venture capital leaders in the world, which I whole heartedly agree with.
What stood out most prominently were Bill’s comments around the challenges that still exist when it comes to reducing health inequity. Bill noted that while there is a long way to go, he’s optimistic about the potential of the private sector and the global health field to work together, and that innovation in areas like immunotherapy, neurodevelopment, and microbiome science will offer compelling solutions for diseases around the world.
The idea of collaboration to increase innovation is something that we work to fuel with our Powering Precision Health (PPH) summit and movement, which Quanterix is a lead sponsor of. The summit showcases some of the world’s most disruptive technologies, such as Quanterix’ digital biomarker technology, and brings all key stakeholders together to discuss how we can transform today’s “sick care” into tomorrow’s precision healthcare. Quanterix’ technology is disruptive, but its development and applications would not be possible without the great minds that we have assembled.
Our belief that precision health is the next iteration of precision medicine was a key component of my presentation at J.P Morgan this year. This was my third year presenting on behalf of Quanterix, but it felt different, as it was the first time presenting as a public company. The groundswell of excitement that surrounded the event carried into the ballroom where hundreds gathered to hear about the incredible value proposition of Quanterix, and the opportunity we have to transform precision health.
Over the past three years our value proposition has grown considerably. We have been fortunate to assemble a passionate team with a track record for value creation. Worth noting is the wealth of experience our team has with research tools, which is exactly the market position we want to capitalize on. By focusing on the research market, we’ve overcome the regulatory risks that often plague companies in our industry. In fact, we’ve not only overcome them, but we’ve prospered, and our technology is now being used by some of the top research organizations in the world. Our ability to do this has been instrumental in securing top investor interest and achieving a successful IPO.
We have BIG plans for 2018 and are already ahead of schedule. We had planned to launch our SR-X benchtop instrument in Q1 of 2018, but sold five instruments before 2017 even ended. It’s important to us to not only meet our projections, but exceed them – and we’ve done so in spades.
Ahead for us this year is also increased globalization, as we see great opportunity in global markets, particularly the APAC region. Moreover, we plan to expand our assay menu with 30 new assays and offer 6-plex capabilities. These advancements will allow us to create reduced cost structures for researchers, enabling them to get more information from fewer samples.
Our roadmap also includes expanding into pharmaceutical services to reinvent drug development and expanding our biomarker menu. Biomarkers in research applications alone can evolve and address an $8B market and, ultimately, can be used to disrupt a far larger $38B global market, which also includes applications in diagnostics and health screens. We are committed to ultimately participating in the larger diagnostics market, but want to take our evolution methodically and systematically, creating value with each step in our journey.
Right now, there are nearly 200 different biomarkers being studied worldwide using our technology, which are not only offering the potential to see disease, but also to see health. By measuring these critical biomarkers, we can track the continuum from health to disease. This capability, which makes it possible to detect diseases before there are symptoms, is the most foolproof way to improve treatment options for patients, and one of the most powerful and promising paths to reaching our ultimate goal of true preventative healthcare.
I feel blessed to have a chance to work with such incredible thought leaders, who are determined to achieve the greater purpose of transforming the world we live in. It is extremely rare to have an opportunity like this – to work with such disruptive technology and the pioneers that are shaping the future of healthcare. Quanterix and its revolutionary technology are an integral part of our PPH movement, and present an incredible opportunity for our team, our investors and our pioneering collaborators, who are all working tirelessly to change the healthcare industry and save lives. Our collective futures are very bright given all we have accomplished and all that lay ahead.
To view the webcast of my full presentation, click here.
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