Masoud Toloue: Yes. I mean, Kyle, I think the way to think of this is that up until let’s say a year or 2 years ago, the need for testing just wasn’t there. There wasn’t a therapy on the market. There weren’t real solutions for folks suffering from Alzheimer’s disease. And now that there is a therapy and potentially hopefully soon, two options, two therapies for patients, there is going to be a real need for testing. And that’s kind of a wide range of tests, right. Picture yourself in an office and you have patients that are coming in that have family history, but aren’t exhibiting memory symptoms. They have actual memory issues or symptoms and they are asking, hey, is this – are these therapies right for me.
And so there, the need for a large infrastructure of testing for clinical trial work validation of which tests when, where, is it a diagnosis, prognosis, is it for monitoring, is it post-treatment monitoring. These are all important questions and it’s not going to be one test that answers all of them. And so we think that it’s dynamic. It’s a dynamic situation, dynamic market and we are excited to participate with, what is that leading test, when it comes to sensitivity. So, now I have no specific comments today with regard to the Adcom, other than, we are hopeful that there is more options for patients.
Kyle Mikson: Okay. Helpful. And then finally just on the brain derived p-Tau, interesting. Could you talk about which antibodies you are using for that? I think I saw [indiscernible] and thermal in the publication. And is that going, is this BD-tau marker going to be added to the multi-marker panel that’s due to come out I guess in the next 6 months to 12 months?
Masoud Toloue: Yes. So, on the BD-tau, I don’t recall if we have disclosed the antibodies that we are using. But really interesting marker, I mean if you look at just how in general, a large portion of that are peripheral sources, meaning, not from brain. And for as much as you can make it more brand specific, we believe that could improve the testing. And it could improve both accuracy of the test and sensitivity of the test. So, there, we are looking at BD-tau in combination in a multi-marker setting, one having it alone, but two, in a multi-marker setting potentially with some of them that we have talked about to see if looking the improvement there. Obviously, you want to be measuring the brain Tau specifically and not peripheral sources for Alzheimer’s.
Kyle Mikson: Perfect. Thanks guys.
Masoud Toloue: Thanks Kyle.
Operator: [Operator Instructions] Our next question comes from the line of Sung Ji Nam of Scotiabank. Your line is now open.
Sung Ji Nam: Hi. Thanks for taking the questions. Maybe on the five health network collaboration, you announced earlier this year, as well as the licensing – the non-exclusive licensing opportunities for laboratories, could you kind of give us an update? I know it’s early on, but kind of the progress you are making there or the traction you are getting currently and kind of any feedback there, early feedback from…
Masoud Toloue: Yes. Thank you. So the feedback has been very positive. I think each of the partnerships and collaborations that we have signed, they are very enthusiastic about the sensitivity of the platform. Very, I would say immaterial revenues in Q1 that will probably be paced by adoption, the adoption of the Lacombe therapy [ph] and future therapies that might come in the market. So, we are looking at that as the large largest pacer. But in the meantime, there has been a lot of interest to be able to adopt the similar platform. We announced five in the first quarter and we hope to continue those announcements as we go into the second quarter.
Sung Ji Nam: Got it. And then just on my follow-up is on the 85%, roughly 85% of the business or the growth drivers currently coming from neurology applications. Just kind of curious how much of that is driven by Alzheimer’s disease specifically and then within Alzheimer’s, also how much of it, do you have a sense of, how much of the growth is coming from truly novel mechanisms of action or biomarkers?
Masoud Toloue: Yes. That’s a very, let’s say, insightful question. I don’t – right now I would say that it’s a pretty even split, there is a large interest in Alzheimer’s. But just off the top of my head here, I wouldn’t say it’s the largest portion of the business. I think if you look at some of the other neuro markers that we have, just general neuro markers for neural health are extremely attractive in a lot of these tests and trials. You have to imagine these markers are ultimate proxies for brain health. And short of, doing surgery and going into the brain, you need some sort of proxy of, hey, is that therapy creating an issue in the brain, or is the patient improving. Were there other clinical attributes that might not be detectable today, but I will be able to measure something in blood that would give me a good proxy for that.
And so those tests, those trials are all ongoing and they are not necessarily the Taus that we have in the portfolio. So, good portion is not Alzheimer’s related. And I would say a growing portion are for future neuropathies, pathologies of the brain.
Sung Ji Nam: Got it. Thank you.
Masoud Toloue: Thanks Sung Ji.
Operator: Thank you for your question. Please standby for our next question. Our next question comes from the line of Dan Brennan of TD Cowen. Your line is now open.
Dan Brennan: Thank you. Thanks for the questions and congrats on the quarter. Maybe just if you couldn’t see just maybe zoom out. We spent a lot of time on Denosumab, and what impact that could have. But just, it’s still obviously very early patient volumes under therapies and obviously for blood based testing with regulatory reimbursement, still a lot of that to come. So, could you just give us a sense if for investors, if we are looking out over the next 6 months to 12 months, and we are trying to identify some of the key events that will give us more clarity on the initial uptake of your clinical business and maybe the competitors? Just what are those key events you think we should be looking at, that will give us some important guideposts for? How this market will begin to develop and the impact for Quanterix?
