Illumina to acquire SomaLogic, accelerating its proteomics business and advancing the company's multiomics strategy
Illumina, Inc. announced today it has entered into a definitive agreement with Standard BioTools (NASDAQ: LAB) under which Illumina will acquire SomaLogic, a leader in data-driven proteomics technology, and other specified assets for $350 million in cash payable at closing, subject to customary adjustments, plus up to $75 million in near-term performance-based milestones and performance-based royalties.
• "The acquisition of SomaLogic will enhance Illumina's presence in the expanding proteomics market and advance the multiomics strategy we announced in 2024. This will strengthen the value of the NovaSeq X product today and unlock greater capabilities in the future,"" said Jacob Thaysen, chief executive officer of Illumina.
• "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.""
• This transaction builds on the co-development agreement established in December 2021 between Illumina and SomaLogic, aimed at integrating the SomaScan® Proteomics Assay with Illumina’s high-throughput next-generation sequencing (NGS) platforms.
• Illumina Protein Prep, a key part of the collaboration, is currently being used by nearly 40 early-access customers worldwide and is expected to be available to all customers in Q3 2025.
• The combined technologies—SomaLogic’s advanced proteomics, Illumina’s scalable NGS infrastructure, DRAGEN™ bioinformatics, and Illumina Connected Multiomics—are designed to:
- Accelerate the development of proteomic technologies
- Reduce time and cost associated with proteomics research
• This strategic collaboration marks a significant step toward mainstreaming proteomics in research and clinical applications.
"We are taking the scalability of NGS into proteomics,"" continued Thaysen. ""Illumina will remain an open, accessible, and enabling NGS platform. The Company is committed to maintaining and supporting its existing proteomics partnerships as well as continuing to develop the sequencing ecosystem and supporting a wide variety of multiomics solutions.""
• Scientific evidence* presented over the past year demonstrates the strength of SomaLogic's proteomics offerings in the areas of plexity, scalability, and technical reproducibility.
• In addition, researchers can generate significant and pivotal insights with high sensitivity, high throughput, and thousands of protein markers in a single experiment.
• SomaLogic has approximately 250 employees worldwide working in commercial, R&D, lab operations, manufacturing, and other roles.
• The company's Boulder, Colorado, facilities—including a CLIA- and CAP-certified lab, office, and manufacturing space—will be part of the purchase.
• SomaLogic has a global footprint serving customers.
Illumina Expands into High-Growth Proteomics with SomaLogic Acquisition
• This transaction integrates SomaLogic’s aptamer-based affinity proteomics platform into Illumina’s portfolio, significantly enhancing its footprint in the rapidly growing proteomics market.
• The addition of a kitted NGS-based panels business introduces a high-margin consumables revenue stream, strengthening Illumina’s business model.
• Illumina projects that:
- The acquired business will reach profitability by 2027 on a non-GAAP operating income basis.
- Non-GAAP operating margins are expected to align with Illumina's margins by 2028.
• Illumina for long-term growth in multiomics, with a strong emphasis on scalability and profitability.
Transaction Expected to Close in H1 2026 Pending Regulatory Approvals
• Completion of the transaction remains subject to customary closing conditions, including the receipt of necessary regulatory clearances.
• The parties intend to file under the Hart-Scott-Rodino Act in the United States in due course.
• Illumina anticipates closing the transaction in the first half of 2026.
• Until the transaction is finalized, Illumina and SomaLogic will continue to operate as separate and independent entities.
• Goldman Sachs and Co. LLC is serving as financial advisor and Cravath, Swaine & Moore LLP is serving as legal advisor to Illumina.
• Centerview Partners LLC is serving as financial advisor to Standard BioTools, and Freshfields LLP and Richards, Layton & Finger P.C. are serving as its legal counsel.
• UBS Investment Bank is serving as financial advisor to the Special Committee of the Standard BioTools Board of Directors.
• This release may contain forward-looking statements that are subject to various risks and uncertainties.
• Actual outcomes may differ materially from those anticipated due to several key factors, including:
- Completion of the proposed transaction — which may not occur as planned or at all, depending on the outcome of regulatory approvals (e.g., Hart-Scott-Rodino Act in the U.S. or international authorities) and other closing conditions.
- Business performance and market dynamics, including growth in the proteomics market.
- Competition from other products or services.
- Integration of SomaLogic, both operationally and technologically, into existing business lines.
- Ability to market and further develop SomaLogic’s technologies and products.
- Partner and customer relationship management within the proteomics space.
- Manufacturing capabilities, including reliability of SomaLogic instrumentation and consumables.
- Challenges in developing, producing, and launching new offerings, including supply chain dependencies.
- Customer adoption and satisfaction with new products and services.
• Additional risks are outlined in the company’s public filings with the Securities and Exchange Commission (SEC), including the most recent Forms 10-K and 10-Q.
• The company undertakes no obligation to update forward-looking statements or provide interim progress reports unless legally required.
• Illumina is improving human health by unlocking the power of the genome.
• Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets.
• Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.
• To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.
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