Akoya Biosciences Opens Operations and Manufacturing Center of Excellence in Marlborough, Massachusetts

MARLBOROUGH, Mass., May 06, 2024 (GLOBE NEWSWIRE) -- Akoya Biosciences, Inc., (Nasdaq: AKYA), The Spatial Biology Company^®, has opened its Operations and Manufacturing Center of Excellence in Marlborough, Massachusetts to meet the accelerating demand for its spatial biology solutions and the increased utilization of the company’s PhenoCycler^®-Fusion and the PhenoImager^® HT platforms.

“Spatial biology is transforming drug discovery, translational sciences, and clinical research, and advancing our ability to understand biology, disease progression, and patients’ response to therapy,” said Brian McKelligon, CEO of Akoya Biosciences. “The vast potential of spatial biology, combined with the higher throughput and plex capabilities of our systems, are driving increased demand for our reagents. We expect our investment in the Manufacturing Center of Excellence will drive operational efficiencies, allowing us to better serve our customers, deliver reagents at increasing scale, and further broaden our portfolio of reagents to unlock new market opportunities.”

The 32,000 square foot facility includes R&D, manufacturing, quality control, warehouse space, and distribution. Co-location of these functional areas enables a more rapid response to growing demand, simplifies manufacturing and supply chains, and facilitates gross margin improvement initiatives. Now fully operational, the primary focus will be the manufacturing and QC of Akoya’s molecular barcoded antibodies and accompanying reagents.

“One of the main advantages of our investment in this facility is the cross-functional collaboration and flexibility it affords,” said Anthony Catalano, Akoya’s Vice President of Operations. “By bringing together our R&D and operational teams, we expect to prototype, test, and deliver new reagents and applications with greater efficiency at a much faster pace.”

Forward-Looking Statements

This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements concerning our expectations about the potential of spatial biology, the demand for spatial biology solutions, our ability to achieve operational efficiencies, our ability to develop, commercialize, meet the demand for, deliver and achieve market acceptance of our current and planned products and services and other statements regarding our products and services, business strategies, future performance, gross margin improvement initiatives and plans and objectives for future operations.

In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.

About Akoya Biosciences

As The Spatial Biology Company^®, Akoya Biosciences’ mission is to bring context to the world of biology and human health through the power of spatial phenotyping. The Company offers comprehensive single-cell imaging solutions that allow researchers to phenotype cells with spatial context and visualize how they organize and interact to influence disease progression and response to therapy. Akoya offers a full continuum of spatial phenotyping solutions to serve the diverse needs of researchers across discovery, translational and clinical research: PhenoCode™ Panels and PhenoCycler^®, PhenoImager^® Fusion and PhenoImager HT Instruments. To learn more about Akoya, visit www.akoyabio.com.

Investor Contact:

Priyam Shah
Sr. Director, Investor Relations
Akoya Biosciences
investors@akoyabio.com

Media Contact:

Christine Quern
617-650-8497
media@akoyabio.com