By Fineline Cube 
US major Illumina (NASDAQ: ILMN) announced plans to acquire SomaLogic, a leader in data-driven proteomics technologies, and specific assets from Standard BioTools (NASDAQ: LAB) for USD 350 million in cash. The acquisition also includes provisions for up to USD 75 million in near-term performance milestone payments and performance-based royalties.
Transaction Background
This acquisition builds on a pre-existing co-development agreement between Illumina and SomaLogic, established in December 2021. The original collaboration aimed to integrate SomaLogic’s SomaScan proteomics assay into Illumina’s high-throughput next-generation sequencing (NGS) platform, enhancing the capabilities of both technologies.
SomaLogic’s Profile
SomaLogic employs approximately 250 people globally and operates laboratory, office, and production facilities in Boulder, Colorado, USA. These facilities are included in the acquisition, providing Illumina with additional infrastructure to support its expanded proteomics offerings.-Fineline Info & Tech