Quanterix has signed a definitive agreement to acquire Swedish neurofilament light (NF-L) antibody supplier UmanDiagnostics in a deal valued at $22.5m.
Quanterix will pay $16m in cash and $6.5m in common stock to UmanDiagnostics. The acquisition is expected to strengthen the company’s assay development and supply capabilities.
Antibody and Elisa kits supplied by UmanDiagnostics are used by researchers and biopharmaceutical and diagnostics companies across the globe for the detection of Nf-L to further the development of therapeutics and diagnostics for neurodegenerative conditions.
Nf-L can be used in the diagnosis, prognosis, and monitoring of a range of conditions including Alzheimer’s disease, Multiple Sclerosis, Parkinson’s disease, traumatic brain injury (TBI), ALS, and Huntington’s disease.
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.
“The acquisition of Uman will allow Quanterix to better support growing research with Nf-L and ultimately has the potential to accelerate the availability of diagnostic tests, while delivering significant strategic and financial value to Quanterix.”
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The company noted that the acquisition will ensure that it can continue to supply Simoa Nf-L assays to researchers worldwide.
Furthermore, it can continue to develop new digital biomarkers to advance the field of research in diagnostics for neurology disorders.
The acquisition will also enable Quanterix to capitalise on various opportunities, either in partnership with diagnostic and biopharmaceutical companies or independently.