Quanterix, a Lexington company specializing in technology designed for the early detection of diseases, raises $18.5m
Quanterix, a Lexington company specializing in technology designed for the early detection of diseases, said Thursday that it has closed an $18.5 million Series C financing.
Quanterix added that it has also entered a strategic agreement with bioMerieux, a French company that plans to use Quanterix’s Simoa technology to develop specialized tests that focus on infectious diseases.
As part of the financing, bioMerieux has taken an initial $15 million equity stake in Quanterix.
Participants in the Series C round include existing investors ARCH Venture Partners, Bain Capital Ventures, and Flagship Ventures as well as In-Q-Tel, Quanterix said.
Quanterix said it has raised $46.5 million to date.
The company added that its strategic agreement with bioMerieux gives its worldwide exclusive rights to Quanterix’s Simoa technology in clinical laboratories and for industrial applications.
Under the agreement, Quanterix is eligible to receive upfront and milestone payments as well as royalties on future sales. The agreement calls for bioMerieux to take an additional equity stake, contingent upon the achievement of the agreement’s milestones.Chris Reidy can be reached at email@example.com.