Standard BioTools has sold SomaLogic to Illumina for up to $425 million, facilitating strategic growth and enhanced operational focus for Standard BioTools.

Information on the Target

Standard BioTools Inc. (NASDAQ: LAB), a prominent player in biomedical research technologies, has successfully completed the sale of its subsidiary SomaLogic to Illumina, Inc. (NASDAQ: ILMN) for a total consideration of up to $425 million. The transaction includes an immediate cash payment of $350 million along with potential future earnings from near-term performance targets. SomaLogic is recognized for its innovative SomaScan® Assay Services and associated technologies, which play a critical role in advancing biomedical research.

This divestiture allows Standard BioTools to streamline its operations while retaining cutting-edge capabilities through its co-exclusive license related to Single SOMAmer commercialization. The company reports a robust cash and cash equivalents balance of approximately $550 million post-transaction, setting the stage for future mergers and acquisitions aimed at growth and market expansion.

Industry Overview in the Target’s Specific Country

The biomedical research sector in the United States is highly dynamic and competitive, driven by substantial investments in innovative technologies. The country is home to several leading firms specializing in next-generation sequencing, proteomi