By Connor Hart
Illumina inked a deal with Standard BioTools to acquire SomaLogic for $350 million in cash.
The maker of gene-sequencing equipment and services said Monday that the deal includes an additional payout of up to $75 million, based on near-term performance-based milestones and performance-based royalties.
"Illumina and SomaLogic have partnered closely for more than three years, and this combination increases our ability to serve our customers and accelerate our technology roadmap towards advanced biomarker discovery and disease profiling," Illumina Chief Executive Jacob Thaysen said.
SomaLogic--which merged with Standard BioTools in January 2024--is a leader in data-driven proteomics technology, Illumina said.
Illumina's acquisition of SomaLogic will enhance its presence in the expanding proteomics market, which studies the structure, function, interaction and modification of proteins.
The purchase will also advance Illumina's strategy to integrate data from multiple levels of biology to gain a more comprehensive understanding of biological systems, the company said.
Shares of Standard BioTools jumped 17%, to $1.23, in pre-market trading. Illumina's stock price edged 0.4% lower to $90.11.
Illumina's acquisition of SomaLogic, which has approximately 250 employees, includes the company's lab, office and manufacturing facilities in Boulder, Colorado.
The deal is expected to close in the first half of 2026, subject to customary closing conditions.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
June 23, 2025 07:58 ET (11:58 GMT)
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