Quanterix Corporation Raises $15 Million In Series A Financing
Leader in single molecule detection will utilize funds to advance SiMoA™ technology
Cambridge, MA – August 25, 2008 – Quanterix Corporation, the leader in single molecule detection, announced today that it has closed the second tranche of its Series A round, bringing the total Series A financing amount to $15 million. Proceeds from the financing will be used to validate the platform and accelerate development of ultrasensitive assays targeting a variety of biological analytes. Quanterix’s Single Molecule Array (SiMoA™) technology will bring an unprecedented level of sensitivity, precision, and assay robustness to clinical diagnostics, drug development, and life science research.
ARCH Venture Partners, Bain Capital Ventures, and Flagship Ventures co-led the round. Quanterix Corporation was founded in 2007 by successful entrepreneurs Dr. David Walt and Dr. Nicholas Naclerio. The company is the exclusive licensee of a broad intellectual property portfolio from the Walt laboratory at Tufts University.
Dr. Naclerio, Chairman and interim CEO of Quanterix, said “We are very excited to have such an outstanding syndicate of investors that appreciate the potential of our technology. The financial support that we have received will allow us to expand our efforts to develop innovative diagnostic solutions and commercialize products that address unmet medical needs.”
Keith L. Crandell, a member of Quanterix’s Board, Co-founder and Managing Director of ARCH Venture Partners noted, “We see tremendous value and promise for this technology. The ability to quantify biomarkers present at low concentrations in blood could provide critical information to clinicians and help guide health care decisions. Quanterix has made considerable progress throughout the last year developing leading edge assays that offer significant improvements in analytical sensitivity over the standard ELISA. ARCH, Bain and Flagship are all very excited about the company.”
Quanterix is developing a revolutionary Single Molecule Array (SiMoA™) technology that allows the behavior ofthousands of individual molecules to be observed simultaneously, rather than an ensemble average of many molecules as with existing technologies. The first application that Quanterix is pursuing with the SiMoA™ technology is the detection and quantification of proteins present in blood and other body fluids at very low, previously undetectable, concentrations. Diagnostic assays targeting proteins that have been implicated in a variety of human diseases, including cancer, chronic inflammatory disease and cardiovascular disease are under development. Quanterix is a privately held company located in Cambridge, Massachusetts. For additional information, please visit www.quanterix.com.
About ARCH Venture Partners
ARCH Venture Partners invests in the development of seed and early stage technology companies that have the potential to grow rapidly into successful businesses. ARCH invests primarily in companies co-founded with leading scientists and entrepreneurs, concentrating on bringing to market innovations in life sciences, physical sciences, and information technology. ARCH Ventures enjoys special recognition as a leader in the successful commercialization of technologies developed at academic research institutions and national laboratories. ARCH currently manages seven funds totaling nearly $1.5 billion and has invested in the earliest venture capital rounds for more than 120 companies. ARCH investors include major corporations, pension funds, endowment funds, financial institutions, and private investors. For more information visit www.archventure.com.
About Bain Capital Ventures
Bain Capital Ventures is the Boston based venture capital arm of Bain Capital, whose affiliates manage over $50 billion of assets. Founded in 1984, Bain Capital and its affiliates have invested in over 230 companies with such notable successes as Doubleclick, Gartner Group and Staples. Bain’s history of investing in early stage companies also dates back to 1984, having made over 120 venture-stage investments since inception. In 2001, Bain Capital Ventures was formed as a separate arm of Bain Capital to focus exclusively on seed through late-stage growth investments in software, hardware, information, healthcare, and technology-driven business service companies. For more information visit www.baincapital.com.
About Flagship Ventures
Flagship Ventures is an early-stage venture capital firm focused on creating, financing and building innovative companies. Headquartered in Cambridge, MA, Flagship was founded in 1999 and manages over $700 million in capital. With an active portfolio of over 40 companies, the firm’s strategy is to balance its investments across three principal business sectors: Therapeutics, Life Science Tools & Diagnostics, and BioEnergy/Cleantech. During the past two decades Flagship’s principals have been involved as founders or investors in many highly successful ventures including: Adnexus Therapeutics, Alere Medical, Aspect Medical, Celera Genomics, ChemGenics Pharmaceuticals, Color Kinetics, Cytyc, DataSage, Exact Sciences, Helicos Biosciences, Hypnion, IDEXX, Morphotek, PerSeptive Biosystems and TripAdvisor. For more information visit www.flagshipventures.com.
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