Biotech firm Quanterix raised $18.5 million in a funding round joined by CIA venture capital wing In-Q-Tel, the company announced.
The firm is developing sensitive diagnostic technology that detects diseases and proteins at lower concentrations than other devices can.
French bioMérieux, which led the round, entered a licensing agreement with Quanterix and was granted exclusive rights to deploy its so-called Simoa technology in clinical laboratories. The technology could be applied in medical settings to measure recurrence of prostate cancer in patients, as well as used for security applications such as detecting toxins in the environment. All of the company’s existing venture capital backers, including ARCH Venture Partners, Bain Capital Ventures and Flagship Ventures, participated in the round.
Quanterix nabbed a $250,000 contract from the Homeland Security Department in 2011. The technology was touted by DHS for its potential to identify active agents of bioterrorism.
(Image via Sebastian Tomus/Shutterstock.com)
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