Illumina has entered into a definitive agreement with Standard BioTools under which Illumina will acquire SomaLogic, a provider of 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.
This transaction builds on a co-development agreement Illumina established with SomaLogic in December 2021 to bring the SomaScan Proteomics Assay onto Illumina's high-throughput next-generation-sequencing (NGS) platforms. Illumina Protein Prep is currently in use with nearly 40 early-access customers globally and will become available to all customers starting in the third quarter of 2025. Combining SomaLogic's proteomics technology with Illumina's scalable NGS ecosystem, DRAGEN software, and Illumina Connected Multiomics will accelerate the technology development roadmap for proteomics and reduce time and cost of proteomic research.
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.
This transaction brings SomaLogic's aptamer-based affinity proteomics platform into Illumina's portfolio, enhancing Illumina's presence in a high-growth area within the proteomics market. The kitted NGS-based panels business will add a high-margin consumables revenue stream. Based on the projected closing date, Illumina expects this business to become profitable in 2027 on a non-GAAP operating income basis, and for non-GAAP operating margins to be in line with Illumina in 2028.
