US-based Quanterix has signed an agreement to acquire Swedish firm UmanDiagnostics in a deal valued at around $22.5m (£17.7m).
The deal is comprised of $16m (£12.6m) in cash, as well as $6.5m (£5.1m) in Quanterix common stock.
Based in Umeå, UmanDiagnostics is involved in supplying of neurofilament light (Nf-L) antibodies and ELISA kits to the researchers and biopharmaceutical and diagnostics companies across the world.
The company’s solution will help detect Nf-L to advance the development of therapeutics and diagnostics for neurodegenerative conditions.
UmanDiagnostics president and CEO Niklas Norgren said: “Quanterix has been one of our strongest partners for several years now and its Simoa technology holds the greatest promise for truly unlocking the value of Nf-L.
“We are proud that our focus on Nf-L has made possible such promising discoveries in neurodegeneration and greatly look forward to further advancing the field as part of Quanterix.”
Quanterix developed the first assay using Uman’s antibodies, which holds capacity to measure Nf-L in blood.
According to Quanterix, the Nf-L has demonstrated utility in the diagnosis, prognosis, and monitoring of a wide range of conditions including Alzheimer’s disease, multiple sclerosis, Parkinson’s disease, traumatic brain injury (TBI), ALS, Huntington’s disease and others.
The acquisition will enable Quanterix to supply advanced Simoa Nf-L assays to the researchers across the globe, as well as continue to innovate new digital biomarkers to advance the field of research in diagnostics for neurology disorders.
Serum Nf-L (sNf-L) is presently used in 46 active key clinical trials, of which 16 are major industry sponsored trials.
Quanterix CEO, president and chairman Kevin Hrusovsky said: “We believe that the ability to measure Nf-L in blood is one of the most significant advances in diagnosis and monitoring of a wide range of neurodegenerative conditions and has the potential to dramatically improve the lives of people suffering from some of the most debilitating diseases impacting society.”
Based in Billerica of Massachusetts, Quanterix has developed Simoa digital health solution, which will enable closely assess the continuum from health to disease. At present, the technology is being used for research applications in various therapeutic areas, including oncology, neurology, cardiology, inflammation and infectious disease.