BILLERICA, Mass.– Quanterix Corporation has officially completed its acquisition of Akoya Biosciences, marking a major step in the company’s push to become a key player in the diagnostics space across neurology, oncology, and immunology.
The transaction, first announced in April, involved Quanterix issuing around 7.8 million shares and paying $20 million in cash to acquire all outstanding Akoya shares and equity awards. The deal brings together two companies focused on biomarker detection—Quanterix through ultra-sensitive blood-based assays and Akoya through tissue analysis platforms.
Quanterix CEO Masoud Toloue said the combined technologies will offer a broader approach to understanding disease progression by connecting insights from both blood and tissue samples. The company estimates that this merger expands its potential addressable market from $1 billion to $5 billion.
Alongside the merger, Akoya board members Scott Mendel and Dr. Myla Lai-Goldman have joined the Quanterix Board of Directors. Mendel, the former CEO of GenMark Diagnostics, brings decades of operational and financial experience. Dr. Lai-Goldman, a diagnostics industry veteran, previously held senior roles at Labcorp and Roche Biomedical Laboratories.
Their appointments come as two Quanterix board members, Martin D. Madaus and Sarah Hlavinka, stepped down. The company expressed gratitude for their service.
Following the acquisition and related financial moves, Quanterix reported holding approximately $163 million in cash after repaying Akoya’s debt and covering transaction costs. The company expects the combined entity to be on a path to profitability by 2026.
