# EDGAR Filing Document

**Accession Number:** 0001711933
**File Stem:** 0001104659-23-029121
**Filing Date:** 2023-3
**Character Count:** 33780
**Document Hash:** 0d93861895e21b6ff81e33ebccb5d1cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-029121.hdr.sgml**: 20230307

**ACCESSION NUMBER**: 0001104659-23-029121

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230307

**DATE AS OF CHANGE**: 20230306

**EFFECTIVENESS DATE**: 20230307

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Akoya Biosciences, Inc.
- **CENTRAL INDEX KEY:** 0001711933
- **STANDARD INDUSTRIAL CLASSIFICATION:** LABORATORY ANALYTICAL INSTRUMENTS [3826]
- **IRS NUMBER:** 475586242
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270312
- **FILM NUMBER:** 23710163

**BUSINESS ADDRESS:**
- **STREET 1:** 100 CAMPUS DRIVE
- **STREET 2:** 6TH FLOOR
- **CITY:** MARLBOROUGH
- **STATE:** MA
- **ZIP:** 01762
- **BUSINESS PHONE:** 855.896.8401

**MAIL ADDRESS:**
- **STREET 1:** 100 CAMPUS DRIVE
- **STREET 2:** 6TH FLOOR
- **CITY:** MARLBOROUGH
- **STATE:** MA
- **ZIP:** 01762

**As filed with the Securities and Exchange Commission on March 6, 2023**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**Akoya Biosciences, Inc.**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Delaware** | **47-5586242** |
|  (State or other jurisdiction<br> of incorporation or organization) | (I.R.S. Employer<br> Identification No.) |
|  **100 Campus Drive, 6<sup>th</sup> Floor**<br> **Marlborough, MA**  | **01752** |
| (Address of principal executive offices) | (Zip code) |

---

**Akoya Biosciences, Inc. 2021 Equity Incentive Plan**

**Akoya Biosciences, Inc. 2021 Employee Stock Purchase Plan**

(Full title of the plan)

**Brian McKelligon**

**Chief Executive Officer**

**Akoya Biosciences, Inc.**

**100 Campus Drive, 6<sup>th</sup> Floor**

**Marlborough, MA 01752**

**(855) 896-8401**

(Name, address and telephone number, including area code, of agent for service)

***Copy to:***

**Patrick O'Malley, Esq.**

**DLA Piper LLP (US)**

**4365 Executive Drive, Suite 1100**

**San Diego, CA 92121**

**Tel: (858) 677-1400**

**Fax: (858) 677-1401**

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act:

---

| | | | |
|:---|:---|:---|:---|
| **Large accelerated filer** | ◻ | **Accelerated filer** | ◻ |
| **Non-accelerated filer** | x | **Smaller reporting company** | x |
|  |  | **Emerging growth company** | x |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act. ◻

**REGISTRATION OF ADDITIONAL SHARES PURSUANT TO GENERAL INSTRUCTION E**

Pursuant to General Instruction E to Form S-8, this Registration Statement is being filed for the purpose of registering an additional (i) 1,914,409 shares of the Registrant's common stock to be issued pursuant to the Registrant's 2021 Equity Incentive Plan; and (ii) 191,440 shares of the Registrant's common stock to be issued pursuant to the Registrant's 2021 Employee Stock Purchase Plan, which are the same class as those securities previously registered on effective Form S-8 filed with the Securities and Exchange Commission on April 23, 2021 (File No. [333-255468](https://www.sec.gov/Archives/edgar/data/1711933/000110465921054446/tm2113896d1_s8.htm)) (the "Original Registration Statement") and March 15, 2022 ([333-263548](https://www.sec.gov/Archives/edgar/data/1711933/000110465922033434/tm228769d1_s8.htm)). The contents of the Original Registration Statement, as amended, or as modified or superseded pursuant to Rule 412 under the Securities Act, are incorporated by reference into this Registration Statement.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Description</u>** |
| [4.1(1)](https://www.sec.gov/Archives/edgar/data/1711933/000110465921042408/tm212065d6_ex3-3.htm) | [Amended and Restated Certificate of Incorporation of the Registrant.](https://www.sec.gov/Archives/edgar/data/1711933/000110465921042408/tm212065d6_ex3-3.htm) |
| [4.2(2)](https://www.sec.gov/Archives/edgar/data/1711933/000110465921042408/tm212065d6_ex3-4.htm) | [Amended and Restated Bylaws of the Registrant.](https://www.sec.gov/Archives/edgar/data/1711933/000110465921042408/tm212065d6_ex3-4.htm) |
| [4.3](tm238085d1_ex4-3.htm) | [Description of Capital Stock.](tm238085d1_ex4-3.htm) |
| [5.1](tm238085d1_ex5-1.htm) | [Opinion of DLA Piper LLP (US).](tm238085d1_ex5-1.htm) |
| [23.1](tm238085d1_ex23-1.htm) | [Consent of RSM US LLP, an independent registered public accounting firm.](tm238085d1_ex23-1.htm) |
| [23.2](tm238085d1_ex5-1.htm) | [Consent of DLA Piper LLP (US) (filed as a part of Exhibit 5.1).](tm238085d1_ex5-1.htm) |
| [24.1](#a_001) | [Power of Attorney (contained on signature page).](#a_001) |
| [99.1(3)#](https://www.sec.gov/Archives/edgar/data/1711933/000110465921049062/tm212065d11_ex10-2.htm) | [2021 Equity Incentive Plan and forms of award agreements thereunder.](https://www.sec.gov/Archives/edgar/data/1711933/000110465921049062/tm212065d11_ex10-2.htm) |
| [99.2(4)#](https://www.sec.gov/Archives/edgar/data/1711933/000110465921049062/tm212065d11_ex10-3.htm) | [2021 Employee Stock Purchase Plan.](https://www.sec.gov/Archives/edgar/data/1711933/000110465921049062/tm212065d11_ex10-3.htm) |
| [107](tm238085d1_ex-filingfees.htm) | [Filing Fee Exhibit.](tm238085d1_ex-filingfees.htm) |

---

(1) Previously filed as Exhibit 3.3 to the Registrant's Registration Statement on Form S-1 (File No. 333-254760),
originally filed with the Commission on March 26, 2021, as amended, and incorporated herein by reference.

(2) Previously filed as Exhibit 3.4 to the Registrant's Registration Statement on Form S-1 (File No. 333-254760),
originally filed with the Commission on March 26, 2021, as amended, and incorporated herein by reference.

(3) Previously filed as Exhibit 10.2 to the Registrant's Registration Statement on Form S-1 (File No. 333-254760),
originally filed with the Commission on March 26, 2021, as amended, and incorporated herein by reference.

(4) Previously filed as Exhibit 10.3 to the Registrant's Registration Statement on Form S-1 (File No. 333-254760),
originally filed with the Commission on March 26, 2021, as amended, and incorporated herein by reference.

# Indicates a management contract or compensatory plan or arrangement.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned thereunto duly authorized in the City of Marlborough, State of Massachusetts, on March 6, 2023.

---

| | |
|:---|:---|
| AKOYA BIOSCIENCES, INC. | AKOYA BIOSCIENCES, INC. |
| By: | /s/ Brian McKelligon |
|  | Brian McKelligon |
|  | President and Chief Executive Officer |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose individual signature appears below hereby authorizes and appoints Brian McKelligon and Joseph Driscoll, and each of them, with full power of substitution and resubstitution and full power to act without the other, as his true and lawful attorney-in-fact and agent to act in his name, place and stead and to execute in the name and on behalf of each person, individually and in each capacity stated below, and to file any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing, ratifying and confirming all that said attorneys-in-fact and agents or any of them or their or his substitute or substitutes may lawfully do or cause to be done by virtue thereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Title** | **Date** |
| /s/ Brian McKelligon | President, Chief Executive Officer and Director | March 6, 2023 |
| Brian McKelligon<br>| (Principal Executive Officer)<br>|  |
| /s/ Joseph Driscoll | Chief Financial Officer | March 6, 2023 |
| Joseph Driscoll<br>| (Principal Financial and Accounting Officer)<br>|  |
| /s/ Robert Shepler | Chairman of the Board | March 6, 2023 |
| Robert Shepler |  |  |
| /s/ Garry Nolan, PhD | Director | March 6, 2023 |
|  Garry Nolan, PhD | Garry Nolan, PhD | Garry Nolan, PhD |
| /s/ Thomas Raffin, MD | Director | March 6, 2023 |
| Thomas Raffin, MD<br>|  |  |
| /s/ Thomas P. Schnettler | Director | March 6, 2023 |
| Thomas P. Schnettler<br>|  |  |
| /s/ Scott Mendel | Director | March 6, 2023 |
| Scott Mendel<br>/s/ Matthew Winkler, PhD | <br>Director  | March 6, 2023 |
| Matthew Winkler, PhD<br>/s/ Myla Lai-Goldman, MD | <br>Director  | March 6, 2023 |
| Myla Lai-Goldman, MD |  |  |

---

## Exhibit 4.3

**Exhibit 4.3**

**DESCRIPTION OF CAPITAL STOCK**

**REGISTERED PURSUANT TO SECTION 12**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

The following description of the common stock of Akoya Biosciences, Inc. ("we," "us" and "our") is a summary and does not purport to be complete. It is subject to, and qualified in its entirety by reference to, our Amended and Restated Certificate of Incorporation ("Certificate of Incorporation"), our Amended and Restated Bylaws ("Bylaws") and our Amended and Restated Investors' Rights Agreement ("Investors' Rights Agreement "). This description also summarizes relevant provisions of General Corporation Law of the State of Delaware (the "DGCL"). We encourage you to read these materials for additional information.

**General**

Our authorized capital stock consists of 500,000,000 shares of common stock, $0.00001 par value per share, and 10,000,000 shares of preferred stock, par value $0.00001 per share, all of which shares of preferred stock are undesignated.

**Common Stock**

The holders of our common stock are entitled to one vote per share on all matters to be voted upon by the stockholders. The holders of our common stock are entitled to receive ratably those dividends, if any, that may be declared from time to time by our board of directors out of funds legally available, subject to preferences that may be applicable to preferred stock, if any, then outstanding. In the event of a liquidation, dissolution or winding up of our company, the holders of common stock will be entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock, if any, then outstanding. Our common stock has no preemptive or conversion rights or other subscription rights or redemption or sinking fund provisions.

**Preferred Stock**

Our Certificate of Incorporation authorizes our board of directors to establish one or more series of preferred stock (including convertible preferred stock). Unless required by law or any stock exchange, the authorized shares of preferred stock will be available for issuance without further action by the holders of our common stock. Our board of directors will be able to determine, with respect to any series of preferred stock, the powers (including voting powers), preferences and relative, participating, optional or other special rights, and the qualifications, limitations, or restrictions thereof. No shares of preferred stock have been issued or are outstanding as of the date of the filing of the Annual Report on Form 10-K of which this Description forms a part, and we have no present plan to issue any shares of preferred stock.

**Anti-Takeover Matters in our Governing Documents and Under Delaware Law**

Our Certificate of Incorporation and our Bylaws contain, and the DGCL contains, provisions that are intended to enhance the likelihood of continuity and stability in the composition of our board of directors. These provisions are intended to avoid costly takeover battles, reduce our vulnerability to a hostile or abusive change of control, and enhance the ability of our board of directors to maximize stockholder value in connection with any unsolicited offer to acquire us. However, these provisions may have an antitakeover effect and may delay, deter, or prevent a merger or acquisition by means of a tender offer, a proxy contest, or other takeover attempt that a stockholder might consider in its best interest, including those attempts that might result in a premium over the prevailing market price for the shares of common stock held by stockholders.

**Authorized But Unissued Capital Stock**

The authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject to any limitations imposed by the listing standards of Nasdaq. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could make more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger, or otherwise.

**Classified Board of Directors**

Our Certificate of Incorporation provides that our board of directors be divided into three classes, with the classes as nearly equal in number as possible and each class serving three-year staggered terms. Directors may only be removed from our board of directors for cause by the affirmative vote of at least 66<sup>2∕3</sup>% of the voting power of all of our then-outstanding shares of capital stock entitled to vote generally in the election of directors, voting together as a single class. In addition, our Certificate of Incorporation provides that, subject to the rights granted to one or more series of preferred stock then outstanding, any newly created directorship on the board of directors that results from an increase in the number of directors and any vacancies on our board of directors will be filled only by the affirmative vote of a majority of the remaining directors, even if less than a quorum, or by a sole remaining director. A director chosen to fill a position resulting from an increase in the number of directors will hold office until the next election of the director's class and until the director's successor is duly elected and qualified, or until the director's earlier death, resignation or removal. These provisions may have the effect of deferring, delaying, or discouraging hostile takeovers, changes in control of us or changes in our management.

**Delaware Anti-Takeover Law**

We are subject to Section 203 of the DGCL, which is an anti-takeover law. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a business combination with an interested stockholder for a period of three years following the date that the person became an interested stockholder, unless the business combination or the transaction in which the person became an interested stockholder is approved in a prescribed manner. Generally, a business combination includes a merger, asset or stock sale, or another transaction resulting in a financial benefit to the interested stockholder. Generally, an interested stockholder is a person who, together with affiliates and associates, owns 15% or more of the corporation's outstanding voting stock or is the corporation's affiliate or associate and was the owner of 15% or more of the corporation's outstanding voting stock at any time within the three-year period immediately before the date of determination. The existence of this provision may have an anti-takeover effect with respect to transactions that are not approved in advance by our board, including discouraging attempts that might result in a premium over the market price for the shares of common stock held by stockholders.

**No Cumulative Voting**

Under Delaware law, the right to vote cumulatively does not exist unless the certificate of incorporation specifically authorizes cumulative voting. Our Certificate of Incorporation does not authorize cumulative voting. Therefore, stockholders holding a majority of the shares of our stock entitled to vote generally in the election of directors are able to elect all of our directors.

**Special Stockholder Meetings**

Our Certificate of Incorporation provides that special meetings of our stockholders may be called at any time only by or at the direction of the board of directors, the chair of the board of directors or our Chief Executive Officer. Our Bylaws prohibit the conduct of any business at a special meeting other than as specified in the notice for such meeting. These provisions may have the effect of deferring, delaying, or discouraging hostile takeovers or changes in control or management.

**Director Nominations and Stockholder Proposals**

Our Bylaws establish advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of the board of directors or a committee of the board of directors. In order for any matter to be "properly brought" before a meeting, a stockholder will have to comply with advance notice requirements and provide us with certain information. Generally, to be timely, a stockholder's notice must be received at our principal executive offices not less than 90 days nor more than 120 days prior to the first anniversary date of the immediately preceding annual meeting of stockholders. Our Bylaws also specify requirements as to the form and content of a stockholder's notice. Our Bylaws allow the chair of a meeting of the stockholders to adopt rules and regulations for the conduct of that meeting that may have the effect of precluding the conduct of certain business at that meeting if the rules and regulations are not followed. These provisions may also defer, delay, or discourage a potential acquirer from conducting a solicitation of proxies to elect the acquirer's own slate of directors or otherwise attempting to influence or obtain control.

**Stockholder Action by Written Consent**

Pursuant to Section 228 of the DGCL, any action required to be taken at any annual or special meeting of the stockholders may be taken without a meeting, without prior notice, and without a vote if a consent or consents in writing, setting forth the action so taken, is or are signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares of our stock entitled to vote thereon were present and voted, unless the certificate of incorporation provides otherwise. Our Certificate of Incorporation precludes stockholder action by written consent.

***Amendment of Certificate of Incorporation or Bylaws***

The DGCL provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation's certificate of incorporation or bylaws, unless a corporation's certificate of incorporation or bylaws, as the case may be, requires a greater percentage. Our Bylaws may be amended or repealed by a majority vote of our board of directors or by the affirmative vote of the holders of at least 662∕3% of the votes which all our stockholders would be entitled to cast in any annual election of directors. In addition, the affirmative vote of the holders of at least 662∕3% of the votes which all our stockholders would be entitled to cast in any election of directors will be required to amend or repeal or to adopt any provisions inconsistent with any of the provisions of our Certificate of Incorporation described above.

The foregoing provisions of our Certificate of Incorporation and our Bylaws could discourage potential acquisition proposals and could delay or prevent a change in control. These provisions are intended to enhance the likelihood of continuity and stability in the composition of our board of directors and in the policies formulated by our board of directors and to discourage certain types of transactions that may involve an actual or threatened change of control. These provisions are designed to reduce our vulnerability to an unsolicited acquisition proposal. The provisions also are intended to discourage certain tactics that may be used in proxy fights. However, such provisions could have the effect of discouraging others from making tender offers for our shares and, as a consequence, they also may inhibit fluctuations in the market price of our shares of common stock that could result from actual or rumored takeover attempts. Such provisions also may have the effect of preventing changes in our management or delaying or preventing a transaction that might benefit you or other minority stockholders.

***Exclusive Forum***

***Limitations of Liability and Indemnification***

The DGCL authorizes corporations to limit or eliminate the personal liability of directors to corporations and their stockholders for monetary damages for breaches of directors' fiduciary duties, subject to certain exceptions. Our Certificate of Incorporation includes a provision that eliminates the personal liability of directors for monetary damages to the corporation or its stockholders for any breach of fiduciary duty as a director, except to the extent such exemption from liability or limitation thereof is not permitted under the DGCL. The effect of these provisions is to eliminate the rights of us and our stockholders, through stockholders' derivative suits on our behalf, to recover monetary damages from a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior. However, exculpation does not apply to any breaches of the director's duty of loyalty, any acts or omissions not in good faith or that involve intentional misconduct or knowing violation of law, any authorization of dividends or stock redemptions or repurchases paid or made in violation of the DGCL, or for any transaction from which the director derived an improper personal benefit.

Our Bylaws generally rovide that we must indemnify and advance expenses to our directors and officers to the fullest extent authorized by the DGCL. We also are expressly authorized to carry directors' and officers' liability insurance providing indemnification for our directors, officers and certain employees for some liabilities. We believe these indemnification and advancement provisions and insurance are useful to attract and retain qualified directors and executive officers.

The limitation of liability, indemnification and advancement provisions in our Certificate of Incorporation and our Bylaws may discourage stockholders from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our stockholders. In addition, your investment may be adversely affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.

There is currently no pending material litigation or proceeding involving any of our directors, officers or employees for which indemnification is sought.

We have entered into indemnification agreements with each of our directors and executive officers. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors or executive officers, we have been informed that in the opinion of the SEC such indemnification is against public policy and is therefore unenforceable.

**Transfer Agent and Registrar**

The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC. The transfer agent's address is 6201 15th Avenue Brooklyn, New York 11219.

**Listing**

Our common stock is listed on Nasdaq under the symbol "AKYA."

## Exhibit 5.1

**Exhibit 5.1**

DLA Piper LLP (US)

4365 Executive Drive, Suite 1100

San Diego, California 92121-2133

T: (858) 677-1400

F: (858) 677-1401

www.dlapiper.com

March 6, 2023

Akoya Biosciences, Inc.

100 Campus Drive, 6<sup>th</sup> Floor

Marlborough, MA 01752

Ladies and Gentlemen:

We have acted as legal counsel for Akoya Biosciences, Inc., a Delaware corporation (the " <u>Company</u> "), in connection with a Registration Statement on Form S-8 (the " <u>Registration Statement</u> ") under the Securities Act of 1933, as amended (the "<u>Securities Act</u> "), for the registration of an aggregate of 2,105,849 shares of common stock, $0.0001 par value, of the Company (the " <u>Common Stock</u>") , including (i) 1,914,409 shares of Common Stock (the "<u>EIP Shares</u>") pursuant to the Company's 2021 Equity Incentive Plan (the "<u>2021 EIP</u>") and (ii) 191,440 shares of Common Stock (the "<u>ESPP Shares</u>" and, together with the EIP Shares, the "<u>Shares</u>") pursuant to the Company's 2021 Employee Stock Purchase Plan (the "<u>ESPP</u>" and, together with the 2021 EIP, the "<u>Plans</u>").

In connection herewith, we have examined and relied without independent investigation as to matters of fact upon such certificates of public officials, such statements and certificates of officers of the Company and originals or copies certified to our satisfaction of the Registration Statement, the Plans, the Amended and Restated Certificate of Incorporation of the Company, and the Amended and Restated Bylaws of the Company as currently in effect and minutes of all pertinent meetings and actions of the Board of Directors of the Company.

In rendering this opinion, we have assumed the genuineness of all signatures on all documents examined by us, the due authority of the parties signing such documents, the authenticity of all documents submitted to us as originals, the conformity to the originals of all documents submitted to us as copies and that the offer and sale of the Shares complies in all respects with the terms, conditions and restrictions set forth in the Registration Statement and the Plans. The Company has represented to us and we have also assumed that the Company has reserved from its duly authorized capital stock a sufficient number of shares of common stock for issuance under the Plans. We have also assumed that it will at all times reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved common stock, solely for the purpose of enabling it to issue the Shares in accordance with the Plans, as applicable, the number of Shares which are then issuable and deliverable upon the settlement of awards under the Plans.

We do not express any opinion herein concerning any law other than the laws of the State of Delaware General Corporation Law and the federal law of the United States. No opinion is expressed herein with respect to the qualification of the Shares under the securities or blue sky laws of any state or any foreign jurisdiction.

This opinion speaks only at and as of its date and is based solely on the facts and circumstances known to us and as of such date. In addition, in rendering this opinion, we assume no obligation to revise, update or supplement this opinion (i) should the present aforementioned laws be changed by legislative action, judicial decision or otherwise, or (ii) to reflect any facts or circumstances which may hereafter come to our attention.

Based upon, subject to and limited by the foregoing, we are of the opinion and so advise you that the issuance of the Shares has been duly authorized and, when issued, delivered and fully paid for in accordance with the terms of the Registration Statement and the Plans, such Shares will be validly issued, fully paid and nonassessable.

We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.

Very truly yours,

/s/ DLA PIPER LLP (US)

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of Akoya Biosciences, Inc. of our report dated March 6, 2023, relating to the consolidated financial statements of Akoya Biosciences, Inc. and its subsidiary, appearing in the Annual Report on Form 10-K of Akoya Biosciences, Inc. for the year ended December 31, 2022.

/s/ RSM US LLP

Boston, Massachusetts

March 6, 2023

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

<u>Form S-8</u>

(Form Type)

<u>Akoya Biosciences, Inc.</u>

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security <br> Type** | **Security Class<br> Title** | **Fee <br> Calculation<br> Rule** | **Amount<br> Registered(1)** |  | **Proposed<br> Maximum<br> Offering <br> Price Per<br> Unit** |  | **Maximum<br> Aggregate<br> Offering Price** | **Fee Rate** | **Amount of<br> Registration<br> Fee** |
| Equity | Common Stock, $0.00001 par value per share | Other | 1914409 | (2) | $11.17 | (4) | $21383948.53 | $110.20 per<br> $1,000,000 | $2356.51 |
| Equity | Common Stock, $0.00001 par value per share | Other | 191440 | (3) | $9.49 | (5) | $1817627.08 | $110.20 per<br> $1,000,000 | $200.30 |
| **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  |  |  | $23201575.61 |  | $2556.81 |
| **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  |  |  | - |
| **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  |  |  | $2556.81 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant to Rule 416(a) under
 the Securities Act of 1933, as amended (the "Securities Act"), this Registration
 Statement shall also cover any additional shares of the Registrant's Common Stock (the
 "Common Stock") that become issuable under the 2021 Equity Incentive Plan (the
 "2021 Plan") and the 2021 Employee Stock Purchase Plan (the "2021 ESPP")
 by reason of any stock dividend, stock split, recapitalization or other similar transaction.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Represents 1,914,409 shares of Common
 Stock that became available for issuance on January 1, 2023 under the 2021 Plan pursuant
 to an evergreen provision of the 2021 Plan. Pursuant to such provision, an additional number
 of shares will automatically be added to the shares authorized for issuance under the 2021
 Plan on January 1 of each calendar year, from January 1, 2022 through January 1,
 2030. The number of shares added each year will be equal to: (a) 5% of the total number
 of shares of common stock issued and outstanding on December 31 of the preceding calendar
 year; or (b) such lesser number of shares of Common Stock as is determined by the Registrant's
 board of directors (the "Board") for the applicable year.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Represents 191,440 shares of Common
 Stock that became available for issuance on January 1, 2023 under the 2021 ESPP pursuant
 to an evergreen provision of the 2021 ESPP. The 2021 ESPP provides that an additional number
 of shares will automatically be added to the shares authorized for issuance under the 2021
 ESPP on January 1 of each calendar year, from January 1, 2022 through January 1,
 2030. The number of shares of Common Stock added each year will be equal to the lesser of:
 (a) 0.5% of the total number of shares of common stock issued and outstanding on December 31
 of the preceding calendar year; or (b) a lesser number of shares of Common Stock as
 is determined by the Board for the applicable year.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Estimated solely for the purpose of
 computing the registration fee pursuant to Rule 457 under the Securities Act and based
 on the average of the high and low prices per share of the Registrant's common stock
 on March 1, 2023 as reported on the NASDAQ Global Select Market.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Estimated solely for the purpose of
 computing the registration fee pursuant to Rule 457 under the Securities Act and based
 on the average of the high and low sales prices per share of the Registrant's common
 stock on March 1, 2023 as reported on the NASDAQ Global Select Market, multiplied by
 85%. Pursuant to the 2021 ESPP, the purchase price of a share is 85% of the fair market value
 of the lower of the Registrant's common stock on the Offering Date or the Purchase
 Date (as such terms are defined in the 2021 ESPP).