Quanterix To Buy Akoya Biosciences In All Stock Deal; QTRX Up In Pre-Market

(RTTNews) - Quanterix Corp. (QTRX), a company focused on digitizing biomarker analysis, said on Friday that it has inked a deal to buy Akoya Biosciences, Inc. (AKYA), a spatial biology company, in an all stock transaction.

Under the terms, Akoya shareholders will receive 0.318 shares of Quanterix for each share of Akoya share owned. This represents a 19 percent premium to Akoya's unaffected stock price on November 14, 2024.

The transaction, to close in the second quarter, will create the first integrated solution for ultra-sensitive detection of blood- and tissue-based protein biomarkers.

Masoud Toloue, CEO of Quanterix, said: "This transaction accelerates our progress by creating the first platform that lets researchers and clinicians track disease progression from tissue to blood."

Post transaction, Quanterix will own around 70 percent of the combined company, while Akoya will own approximately 30 percent.

The transaction is expected to generate around $40 million in annual cost synergies by the end of 2026, with $20 million to be realized within the first year following close.

For the trailing 12 months to September 30, 2024, the combined company posted revenue of around $220 million.

The combined company will continue to operate under the Quanterix name.

In pre-market trade on the Nasdaq, QTRX is up 9.80 percent at $12.88 and AKYA is up 45.11 percent at $3.860.