French in vitro diagnostics giant bioMérieux has taken a major stake in Massachusetts startup Quanterix. It led most of a $18.5 million Series C financing secured by the company, and both will partner to develop ultrasensitive and multilevel immunoassays.
Their deal calls for bioMérieux to develop specialized tests using the Quanterix's Simoa technology--an ultra-sensitive immunoassay tech that enables high definition diagnostics. Quanterix, in turn, stands to gain both upfront and milestone payments, plus royalties on sales generated by products stemming from the agreement. bioMérieux took a $15 million equity stake in Quanterix, but will invest in an even larger chunk of the company assuming their deal hits those milestones. Plus, bioMérieux also gains the right to designate a Quanterix director. (Is an outright acquisition in the future? Perhaps.)
bioMérieux, a long-running in vitro diagnostics giant, sells reagents, instruments and diagnostics-related software to detect disease, provide cancer and cardiovascular disease screening and test for microorganisms in everything from food to drugs and cosmetics.
Existing investors including ARCH Venture Partners, Bain Capital Ventures and Flagship Ventures participated in the round. In-Q-Tel also participated the round--a non-profit venture capital outfit based in Virginia that invests in technology that potentially benefits the CIA and other U.S. intelligence agencies.
- read the release