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Kevin HrusovskyChairman & CEOJanuary, 2018
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Safe Harbor
Forward-Looking StatementsThis presentation and the accompanying oral commentary contain “forward-looking” statements that are based on our beliefs and assumptions andon information available to us as of the date of this presentation. Forward-looking statements include information concerning our possible orassumed future results of operations, business strategies, development plans, regulatory activities, competitive position, potential growthopportunities, addressable markets, use of proceeds and the effects of competition. Forward- looking statements include all statements that are nothistorical facts and can be identified by terms such as “anticipate,” “believe,” “can,” “continue,” “could,” “enable”, “estimate,” “expect,” “intend,”“may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” “will,” or “would,” or the negative of these terms, or othercomparable terminology intended to identify statements about the future.
We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements. Forward-looking statements involveknown and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to bematerially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Except asrequired by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons why actual results coulddiffer materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.
The Company has filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement (including a prospectus) for the offering to which this presentation relates, but such registration statement has not been declared effective. Before you invest, you should read the prospectus in that registration statement, including the Risk Factors set forth therein, and the documents incorporated by reference or filed as exhibits to the registration statement for more complete information about the Company and this offering. You may access these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204; Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132 or by email [email protected]; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or by calling (631) 274-2806 or by faxing (631) 254-7140.
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Marquis Management, Board and Investors
Kevin Hrusovsky Chairman & CEO
Martin Madaus, PhD Chairman & CEO Ortho Clinical Diagnostics
Douglas Cole, MD Managing Partner Flagship Pioneering
Keith L. Crandell Co-Founder & Managing Director ARCH Venture
John M. Connolly Senior Advisor Bain Capital Ventures
David Walt, PhD Founder Quanterix & Illumina, Harvard
Paul Meister Co-founder Liberty Lane Partners
Marijn Dekkers, PhD Chairman, Unilever, General Electric BOD
Board
Value Creation – Strong Track Record
Kevin HrusovskyChairman & CEO
Mark Roskey, PhDCommercial
David Duffy, PhDCTO
Bruce BalOperations
Ernie OrticerioCD & Finance
Elisabeth ColunioHR
Joe DriscollCFO
Brian KeaneGeneral Counsel
Management
Dan Sikkema, PhDOncology
Andreas Jermone, PhDNeurology
• IPO 7.5x’s over subscribed; $80 million in bank• Raised $150 million past three years
• Rapid Success in Research: 0 - $23M Revenue• 2020 - Diagnostics: New Deals; 750 Trials, PPH Validation
44
Disruptive Biomarker Technology Enabling Precision Health
Core Simoa Technology
Multiple Target Markets
Research Diagnostics1
Clinical trials1 Precision health1
Therapeutic Area Focus
Scientific and Customer Validation
Digital Sensitivity
See Health and Disease Processes Earlier
Less Invasive Sample Types
All Relevant Biomarkers
vs.BiopsyBlood draw
Inflammation Infectious DiseaseOncology
Analog Digital
Neurology
DNA ProteinsRNA
1 Subject to receipt of regulatory approvals or clearances which the company has not applied for to date.
Cardiology
Competition
Multiple Instrument Formats Possible
5
Convergence of Technology and Healthcare
digital
analog
digital biomarkers
Measuring Life’s Variables
6
20,000genes
100,000+ proteinsRNA
Molecules of Life; Genotype to Phenotype
Molecules of Life
Environmental Factors Affect Health
Drugs RadiationLifestyle Infections
Diet Sleep Exercise
PollutionStress Concussions
Cancer Diabetes
~1975-1990’s
~2000-2013
~2013-present
pg/mL
ng/mL
fg/mL
ELISA
ECL
Quanterix
900xsensitivityincrease
Measuring What Could Not Be Seen Before
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INVA
SIVE
NESS
symptomsPreventative Healthcare
Biopsy,spinal tap
or other invasive
procedures
bloodsalivaurine
healthy I II III IV death
STAGE OF DETECTION
sickness begins
biomarkerconcentration
cancer
neuro
sick, asymptomatic
cardio
infectious disease
HEALTHCARE SICK CAREbiomarkerconcentration
GOAL
Placement of disease categories is for illustration purposes only
8
INVA
SIVE
NESS
sickness begins
sick, asymptomatic
symptomsPreventative Healthcare
biopsyspinal tap
bloodsalivaurine
healthy I II III IV death
STAGE OF DETECTION
biomarkerconcentration
biomarkerconcentration
Current detection
limit
Current detection limit
New detection
limit
New detection limit
HEALTHCARE
9.0 pg/ml*0.01 pg/ml*
* Represents limit of detection for the leading commercially available IL-2 assay and SIMOA’s limit of detection of IL-2 for illustrative purposes
SICK CARE
Quanterix
>100,000Proteins expressed in the human body expressed by
20,000 coding human genes
~10,500Secreted proteins in
circulation in human blood
<1,300Proteins consistently detected
by conventional IA tech
~205FDA-approved IA diagnostic tests
Today
9
Illuminating the Continuum from Health to Disease
OncologyPotential to be highly
predictive of early stage cancer recurrence
NeuroPotential for diagnosing Alzheimer’s dementia in
line with current CSF biomarkers
Infectious DiseaseSignificant potential toreduce the spread of
infectious disease
InflammationTNF-α at LoD levels
>100x below traditional IAs
20 pubs36 markers
89 pubs49 markers
75 pubs95 markers
Sensitivity enables researchers to expand into diseases associated with previously undetectable proteins
10
Unprecedented Protein Detection Sensitivity
1
Provider Protein
Innotest Ab 42
Innotest Tau
Techne IL‐6
Techne TNF‐α
ALPCO C‐peptide
Techne IL‐10
Millipore INF‐α
Genentech IL‐17A
Roche/Siemens PSA
Ortho p24
Techne IL-5
Normal clinical range (median)Leading ELISA LoD (2.5 SD)Quanterix LoD (2.5 SD)
LoD comparison
Concentration, pg/mL
Assa
y
Quanterix
Concentration, pg/mL Average 3000xConcentration, pg/ml
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WW COST
Oncology
$350B
DEATHS / YR 9MM
Neurology
$270B
18MM
$6B
Cardiology
$470B
ID, InflammationOther*
$140B
TOTALS:
$1.3T
7MM 15MM ~50MM
$38B$9B
Applications
* Other includes validation related to inflammation, technology, immunology and others Source: Health Advances analysis, ASCO, NIH, Kaiser Family Foundation, Miller 2011 J Am Coll Cardiol, O’Donoghue 2014 Ann Intern Med, WHO
$25BBIOMARKERMARKET
12
Our Product Portfolio
Instruments Assay kits Services
HD-1 Analyzer - $175k list
Launched 2014 Fully-automated 400 samples / shift HD-X Trade in Q4’18
SR-X - $75k list
Launch 1H’18, Now Q1’18 Reader only Academic, Int’l, Assay Dev’l Multiplexing, smaller samples Nucleic Acids w/o PCR
Consumables and Ab’s
80 assays kits including homebrew / multiplex
Proprietary disk with 24 arrays 30+ new assays in 2018 Portable between instruments
In-house and field based
Sample testing and Assay Dev’l Maintenance, warranties, training CLIA Certification 2H’18 Drug Trials for efficacy, toxicity
and companion diagnostics
13
SR-X Pre-Launch Traction
14
Long Term (>3 yrs)Near Term (1-3 yrs)Immediate
Strategic Roadmap to $38B Market
*$8B Future Life Science research is inclusive of $3B Life Science Research Today, not net. Also includes pharma services and clinical trials.Note:IA= Immunoassay, IHC = immunohistochemistry, mass spec = mass spectrometry; MS = multiple sclerosis, PSA = prostate-specific antigen, TBI = traumatic brain injury.Source:Health Advances analysis.
Research Today
$3B
Pharma Services & Future Research
$8B*
Diagnostics and Health
Screens
$30B
Ris
k/R
ewar
d
Quanterix today
$6B
POC IA & Molecular
$11B
Core Lab IA$4B Mammography
MS Monitoring
$1B
$2B
$1B
PSA Monitoring
TBI Monitoring
Companion Diagnostics$2B
$1B Alzheimer’s Diagnosis$1B Pancreatic Cancer Screening and Monitoring
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Pharma Services, LDT, CDx
Reinvent drug developmentResearch
Discover and validate digital biomarkers
IVD Diagnostics, LDTand Health Screens
Disrupt healthcare
Global sales channelMenu expansion
Benchtop SR-X - Revamped HD-X
Phase I, II and III Drug Trials
Diagnostics PartnersAbbott and BioMerieux
$38B
$3B
Clia Lab, Menu
16
Current Landscape Dominated by Few Companies
41%
13%
5%
3%
2%
1%
Other 15%Manual 20%
*Immunoassay Research, including partners and excluding Diagnostic
IA Research market:
$1B(7% CAGR)
*
Complementary:MASS SPECTROMETRY
Indirect Competition:IMAGING
IA + Nucleic Acid Y/E 2016 Installed Base:
14,500Nucleic Acid
$2B+
Pharma Services$2B
+Future Expansion
$3B
17
Rapid Growth with Compelling Consumable Pull-through
Three-year Growth($ in millions)
Grew from 0 instruments Jan’14
72
121
53
98
185
58
126
180
2015 2016 2017 est.
InstrumentsPublicationsMarkers
(cumulative)
2018 Milestones• Q1: Launch SR-X benchtop• Q4: Launch HD-X: Trade in• Expand menu by 30+ assays• Multiplexing, cost and sensitivity• Globalize and enter Pharma Services • CLIA certification and LDT licensing• Explore Point-of-Care relationships• Blood screening license – Top Dx Co • Bolster Ab engineering capability
176
$2.9 $4.4$7.6
2015 2016 2017E
$12.2
$17.6
Revenue
$22.5-$22.9
= Consumables
Q4 represents a preliminary, unaudited est. of financial information. We have not finalized the audit of our results of operations for the 3 months and year ended 12/31/17, which may identify items requiring adjustment to these unaudited financial results.
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• Cash $80M ($9M debt) - Sufficient to crossover• 65%+ GM at scale: C 75%+, I 55%, S 65%• M&A can accelerate pace to scale• Head count today 125, projected at 150 at ’18 year end
‒ 55 Commercial, 35 R&D/Eng, 25 Mfg / Operations
Business Profile
NA61%
Asia9%
Eur30%
Instruments34%
Assays40%
Accelerator26%
Pharma/Biotech/CRO
61%
Academia39%
Oncology16%
Neurology72%
Cardiology5%
Infect. Disease
6%
Product Revenue Allocation(2017 estimate)
$1.6
$3.1
$4.9
2015 2016 2017E
Accelerator Revenue(millions)
Q4 represents a preliminary, unaudited est. of financial information. We have not finalized the audit of our results of operations for the 3 months and year ended 12/31/17, which may identify items requiring
adjustment to these unaudited financial results.
• Promotion cost center to 65% g.m. growth catalyst business• Mood Study, pharma utilization, drug trials pipeline• CLIA certification for pharma services enables LDT entry
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Biomarkers Clinical Utility is Transforming Drug Development
Cancer, auto immune and inflammation and neurology
75 300
750500
2015 2016 2017 Pipeline
Cumulative Trials using QTRX:
2
20
2015 2017
CRO’s using QTRX
0
7
2015 2017
Trials at QTRX
26.1%
19.1%
15.3% 15.1%
11.1% 9.6%8.4%
6.6%5.1%
210% increase in
probability of drug approval
4th Leading Cause of Death in USA
25%
30%
47%
48%
57%
60%
60%
60%
62%
EfficacyDepression
Schizophrenia
Cardiac arrhythmia
Asthma
Diabetes
Osteoporosis
Hepatitis C
AD
Cancer
Toxicity
20
Blue Chip Customers
Research Institutions Biopharma Other
21
Rapid Adoption with Early Evidence of High Utilization
# of Instruments
Consumable avg. $/yr./instr.1
$117,00070% Neuro
$117,00070% Infl. & Onco.
$200,00095% Homebrew
Applications
# of Instruments
Consumable avg. $/yr./instr.1
$175,00095% Homebrew
$135,00070% Neuro
$100,00030% Homebrew
Applications
1. Based on revenue through June 30, 2017, annualized for full year
Today avg. is$52K per instr, up from $40K
Homebrew revenue per
test is 1/3 kits
22
Rapid growth of Clinical Trials in Oncology and Auto Immune
Oncology: ImmunotherapyAutoimmune DiseasesCardiovascular Disease
Type 2 Diabetes Pulmonary
Neurological
“75% of 500+ clinical trialsrequire Quanterix data w/ Luminex”
Ralph McDade, CEO RBM Myriad Genetics(45 Luminex Readers SR-X)
Predictive use of efficacy & safety biomarkers
Candidates attrition & refinement
Dose selection, PK/PD modeling
Efficacy & safety “valid” & putative markers
PoM, protocol design
Patient stratification
Other indications
Market differentiation
Post approval surveillance
IL-15IL-17AIL-17fIL-18 IL-23IFN-αIFN-β CP3B
IFN-γIP-10 MCP-1 TGF-αTNF-αTNF-β TRAILHomebrew
EotaxinGM-CSF IL-1α IL-1βIL-2IL-4 IL-5 IL-6
IL-7 IL-8 IL-10 IL-12p40IL-12p70IL-13CP3AVariaplex
Ultrasensitive Digital Biomarkers 20 Inst in Pharma Services
Companion Dx
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2011 2012 20132014
2015
2016
2017
Sports/military/concussionTBIAlzheimer's Disease Multiple sclerosisNeurodegeneration (other)Other
JAMA Neurol. 2014;71(6):684-692.
Tau predicts return-to-play following concussion
Tau28 concussed hockey players
AUC 0.91
JAMA Neurol. 2015; Aug 3
Tau (chronic)70 ex-deployed
military personnel
Tau predicts TBI history, and long-term symptoms
(25)
(36) JAMA Neurol2017; May 1
NF-L570 patients & HCs
cross-sectional
Plasma NF-L exhibits high diagnostic
accuracy for Alzheimer’s
disease(AUC 0.87)
Neurology Publications – Catalyze Disruption
2x winner
“Concussion”Starring Will Smith &
Alec Baldwin
J Neurotraum Neurol. 2016; Oct 1
NF-L19 collegiate
players (TCU)
NF-L reflects extent of football hit exposure over a season
Neurol Neuroinfl2016; Aug 2
NF-L12 patients,
longitudinal study
NF-L reflects MS progression
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Multiple sclerosis
Alzheimer's Disease
Frontotemporal Dementia
Amyotrophic Lateral Sclerosis (ALS)
Delirium
Traumatic brain injury
Concussion
Chronic Traumatic Encephalopathy (CTE)
Parkinson’s disease
Creutzfeldt-Jakob (prion) disease
Huntington’s disease
Guillain-Barre syndrome
Brain hypoxia
Stroke
Subarachnoid hemorrhage
Neurology Opportunity
Digital biomarkers impacting all areas of brain health:
TauP-TauAmyloid β 40Amyloid β 42Nf-LBDNFGFAPUCH-L1NSETNFaaSynucleinTDP43Inflammatory CytokinesMultiplex combinations
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Neurology Customers
1.92.8
4.3
2015 2016 2017E
Instrument Sales ($)
1.61.9
4.8
2015 2016 2017E
Consumables Sales ($)
0.3 1.1
2.5
2015 2016 2017E
Accelerator Sales ($K)
17
35
48
2015 2016 2017E
Number of Instruments (units)
3 6
22
2015 2016 2017E
Consumable Markers Added
1775
158
2015 2016 2017E
Accelerator Projects
14
41
85
2015 2016 2017E
Number of 3rd Party Pubs
1 3
8
2015 2016 2017E
Neuro Projects in Trials
26
Neurology Customers
PIPELINE(inc. installed base)
1.92.8
4.3
2015 2016 2017E
Instrument Sales ($)
1.61.9
4.8
2015 2016 2017E
Consumables Sales ($)
0.3 1.1
2.5
2015 2016 2017E
Accelerator Sales ($K)
17
35
48
2015 2016 2017E
Number of Instruments (units)
3 6
22
2015 2016 2017E
Consumable Markers Added
1775
158
2015 2016 2017E
Accelerator Projects
14
41
85
2015 2016 2017E
Number of 3rd Party Pubs
1 3
8
2015 2016 2017E
Neuro Projects in Trials
Note: 2017 figures are estimates
Q4 represents a preliminary, unaudited est. of financial information. We have not finalized the audit of our results of operations for the 3 months and year ended 12/31/17, which may identify items requiring adjustment to these unaudited financial results.
“40% lower cost, 60% more accessible, and live 8 years longer productive lives.”
Kevin HrusovskyFounder & Chair, Powering Precision Health Summit
606attendees
54luminary speakers
18corporate sponsors
Speakers from:Harvard Medical, MD Anderson Cancer
Center, Merck, Eli Lilly, NYU, UPenn, NIH, DanaFarber, Yale Medical, Biogen, Cedars
Sinai, Myriad RBM,Boston Univ.
Massachusetts Governor Issues Proclamation for
Precision Health Awareness Week
12PPH news
articles
402tweets
about PPH
154live streams on Periscope
133,000,000social media impressions
Revolutionary opportunities to detect earlier and improve treatment of:
• Pancreatic Cancer• Breast Cancer• Prostate Cancer• Lung Cancer• Alzheimer's• CTE
• Concussions• Diabetes• Multiple Sclerosis• Parkinson• HIV• C-Difficile
6,500 Peer-Reviewed Publications
28
Lynchpin
Disrupt
Holy Grail
Proven
Product Launches
New Answers
Retail
Best in Class
$3B to $38Bn1
170+ pubsAll Areas
$150MInvested
4
2
6
3
5
Proven Management, Bod, Investors and Founder
1
7
Category-defining; Unrivaled Sensitivity
Validation: 17/20 top pharma, PPH, 700+ trials
Growth & Value; Razor – razor blade, M&A
Genotype to phenotype; Drug Development to Dx
Methodical market penetration strategy to reward investors
Research value backstop with dx / digital disruption potential
ValueDifferentiator
Poised to Disrupt Healthcare and Create Significant Value
market
execution
1. $30bn subject to receipt of regulatory approvals or clearances, which the company has not applied for to date.
29
Empowering Personal Health Management Paradigm
* Subject to any required regulatory approvals and clearances, which the company has not applied for to date