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Quanterix Ends IVD Agreement With BioMérieux

NEW YORK (360Dx) – Quanterix said after the close of markets on Wednesday that it has terminated its license agreement with BioMérieux.

The license had covered commercialization of Quanterix's Simoa immunoassay technology for in vitro diagnostic purposes. With its termination, Quanterix regains control of this portion of its intellectual property.

Financial and other terms of the termination agreement were not disclosed.

"While we have benefited from our six-year strategic relationship with BioMérieux for commercializing Simoa into IVD markets, this development unlocks our long-term value creation opportunity in the estimated $30B IVD market," Kevin Hrusovsky, president, chairman, and CEO of Quanterix, said in a statement.

Under the agreement, which the two companies inked in 2012, BioMérieux obtained worldwide exclusive rights to Quanterix's Simoa technology in clinical laboratories and for industrial applications. BioMérieux also took a $15 million stake in Quanterix as part of its $18.5 million Series C financing round.

In an investor note, Cowen analyst Doug Schenkel suggested ending the agreement would benefit Quanterix in the long term by allowing it "to accelerate its entrance into the IVD market at more attractive terms" while also letting it pursue partnerships with other IVD firms. It also makes the company "a more attractive target for a strategic acquirer," he noted.