Washington, DC 11/9/17—Quanterix, a provider of the Simoa (SIngle MOlecule Array) automated digital ELISA technology, has filed for a US IPO. Pricing has not yet been announced. For the nine month period ending September 30, revenues grew 49.3% to $16.3 million (see Bottom Line), with 161 Simoa HD-1 Analyzer systems sold to 110 customers. Products, Service, and Collaboration and License revenues accounted for 62%, 33% and 5% of sales, respectively. Adjusted operating loss was $18.3 million. As of September 30, the company had cash and cash equivalents of $18.7 million, and the company’s total accumulated deficit stood at $136.6 million. (For more on automated ELISA systems, see Market Profile).

By geography, Quanterix’s sales to North America, EMEA and Asia Pacific represented 54%, 31% and 15% of sales, respectively, for the nine month period. The Simoa system, and accompanying assays, were launched in 2014. The company now offers over 80 Simoa digital biomarker assays. Homebrew assays can also run on the system.  

Advantages of the Simoa system, according to the company, include higher sensitivity compared to conventional sandwich ELISA, multiplexing and the ability to detect nucleic acids. Although Quanterix’s current focus in the research market, it plans to expand into the diagnostics market and has signed a development agreement with bioMérieux. The company lists its competition as Bio-Techne, Gyros, Luminex, Meso Scale Discovery, NanoString Technologies and Singulex (sold by MilliporeSigma).