NEW YORK (GenomeWeb) – Quanterix on Thursday announced the completion of an $8.5 million private placement led by T. Rowe Price.
The funding is a follow-on to the firm's Series D financing round, which raised $46 million in March 2016, and will be used to develop new instruments, expand Quanterix's assay menu, and "meet global demand for the company's proprietary platform across therapeutic markets," it said.
"We believe the company is well-positioned to transform medical diagnostics and that it has the technology and management team to build a much larger company," Ziad Bakri, portfolio manager of T. Rowe Price Health Sciences Fund, said in a statement.
Quanterix also named Marijn Dekkers to its board. He is currently a board member at General Electric and is chairman of Unilever. He has also been CEO of Bayer and of Thermo Fisher Scientific.