Akoya Biosciences Acquired by Quanterix in $20M Deal
Deal News | Jul 08, 2025 | EIN
In a significant transaction within the biotechnology sector, Marlborough-based Akoya Biosciences has been acquired by Quanterix Corp., a biotech firm headquartered in Billerica, for $20 million in cash. The acquisition, finalized on Tuesday, resulted in Akoya becoming a wholly owned subsidiary of Quanterix, which has led to Akoya's delisting from Nasdaq. The merger was initially proposed in January, with an expectation to form a $220 million combined entity by the second quarter. Complications arose in May when Akoya received an unsolicited buyout offer of $69.83 million from an anonymous party, but this was withdrawn after the terms did not meet Akoya's requests. Post-acquisition, Quanterix aims to expand its market presence from $1 billion to $5 billion, driving synergies and enhancing profitability by 2026. Leading the newly formed subsidiary, Quanterix CEO Masoud Toloue will serve as president, while Akoya's former executives have stepped down. Financial and legal advisory roles involved Perella Weinberg Partners, Goldman Sachs, DLA Piper, Covington & Burling, and Sidley Austin.
Sectors
- Biotechnology
- Financial Advisory
- Legal Services
Geography
- United States – The article focuses on companies based in Massachusetts (Marlborough and Billerica), underscoring the U.S. context of this biotech acquisition.
Industry
- Biotechnology – The article details a significant acquisition in the biotech sector, focusing on the strategic expansion and enhancement of biomarker solutions.
- Financial Advisory – Both target and acquiring companies employed financial advisors to navigate the acquisition, underscoring the financial complexity involved in such transactions.
- Legal Services – Legal counsel was employed by both parties to address the regulatory and compliance aspects of the acquisition process.
Financials
- $20,000,000 – Cash paid by Quanterix to acquire Akoya Biosciences.
- $69,830,000 – Unsolicited buyout offer received by Akoya from an anonymous party.
- $5,000,000,000 – The anticipated expansion of the addressable market post-acquisition, as stated by Quanterix.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Akoya Biosciences | Target Company | Company | A biotech firm based in Marlborough, ultimately acquired by Quanterix. |
| Quanterix | Bidding Company | Company | The acquiring biotech firm based in Billerica. |
| Perella Weinberg Partners | Financial Advisor for Akoya | Company | New York City-based firm advising Akoya in the transaction. |
| DLA Piper | Legal Counsel for Akoya | Company | Boston-based law firm providing legal services to Akoya. |
| Goldman Sachs | Financial Advisor for Quanterix | Company | Provided financial advisory services to Quanterix. |
| Covington & Burling | Legal Counsel for Quanterix | Company | Provided legal counsel to Quanterix, headquartered in Washington, D.C. |
| Sidley Austin | Legal Counsel for Quanterix | Company | Provided legal counsel to Quanterix, headquartered in Chicago. |
| Brian McKelligon | Former CEO of Akoya | Person | Led Akoya during the process of the acquisition. |
| Masoud Toloue | CEO, stepping in as President of the subsidiary | Person | CEO of Quanterix who will lead Akoya as a subsidiary. |
| Mica Kanner-Mascolo | Journalist | Person | Staff writer at Worcester Business Journal covering healthcare and diversity. |