Quanterix Corp (NASDAQ:OTRX) has launched its Initial Public Offering (IPO) on Monday, offering a total of 3.34 million shares priced at US$14 to US$16 per share.
At the midpoint price range, the company will raise a total of US$50.1mln.
Company digitises biomarker analysis
J.P. Morgan, Leerink Partners and Cowen are joint bookrunners on the deal with BTIG and Evercore ISI acting as co-managers. The life sciences company is set to list on Nasdaq.
The Massachusetts-based company will use the proceeds from the IPO to expand its commercial operations, improve and update its Simoa technology, as well as support a 2018 product launch.
Part of the monies will also go towards moving to a larger corporate headquarters, seek regulatory approval to develop certain instruments, to pursue acquisitions and for general corporate purposes.
Quanterix digitises biomarker analysis with the aim of advancing the science of precision health. Its technology is aimed at enabling earlier detection of disease, better prognosis and enhanced treatment methods to improve the quality and longevity of life.
Its technology is currently being used for research applications in oncology, neurology, cardiology, inflammation and infectious disease.