Illumina, Inc. announced today that it has signed a definitive agreement with Standard BioTools (NASDAQ: LAB) to acquire SomaLogic, a leader in data-driven proteomics, along with certain other assets, for a purchase price of $350 million in cash at closing, subject to customary adjustments. The agreement also includes up to $75 million in near-term performance-based milestone payments and performance-based royalties.
“The acquisition of SomaLogic strengthens Illumina’s position in the rapidly growing proteomics market and advances our multiomics strategy outlined earlier this year,” said Jacob Thaysen, CEO of Illumina. “This combination builds on our existing partnership, expands the value of our NovaSeq X platform today, and unlocks new capabilities for biomarker discovery and disease profiling going forward.”
The transaction builds on a collaborative agreement established between the two companies in December 2021 to integrate SomaLogic’s SomaScan® Proteomics Assay with Illumina’s high-throughput next-generation sequencing (NGS) platforms. Illumina Protein Prep, part of this collaboration, is already being used by nearly 40 early-access customers globally, with full availability expected in the third quarter of 2025.
By combining SomaLogic’s advanced proteomics technology with Illumina’s robust NGS infrastructure, including its DRAGEN™ software and Illumina Connected Multiomics platform, Illumina expects to accelerate innovation in proteomics, enabling higher efficiency, reduced costs, and faster timelines for proteomic research.
“We are bringing the scalability of NGS into proteomics,” Thaysen added. “Illumina remains committed to an open, accessible NGS ecosystem and will continue supporting its current proteomics partnerships while driving development across a range of multiomics solutions.”
Recent scientific evidence has demonstrated the strengths of SomaLogic’s proteomics platform in areas such as plexity, scalability, reproducibility, and sensitivity. The technology enables researchers to generate pivotal insights across thousands of protein markers with high throughput and precision.
SomaLogic employs approximately 250 people across commercial, R&D, laboratory, manufacturing, and operational roles. Its facilities in Boulder, Colorado — which include CLIA- and CAP-certified labs, office space, and manufacturing operations — will be included as part of the acquisition. SomaLogic currently serves a global customer base.
The addition of SomaLogic’s aptamer-based affinity proteomics platform enhances Illumina’s portfolio in a high-growth segment of the proteomics market. The integration of SomaLogic’s NGS-based panels is expected to contribute a high-margin consumables revenue stream. Illumina projects that the new business will become profitable on a non-GAAP operating income basis by 2027, with non-GAAP operating margins aligning with Illumina’s overall margins by 2028.
The acquisition remains subject to customary closing conditions, including regulatory approvals. The parties will make required filings under the Hart-Scott-Rodino Act in the United States. Illumina expects the transaction to close in the first half of 2026. Until then, both companies will continue to operate independently.
Goldman Sachs & Co. LLC is acting as financial advisor and Cravath, Swaine & Moore LLP as legal advisor to Illumina. Standard BioTools is being advised by Centerview Partners LLC, with legal counsel provided by Freshfields LLP and Richards, Layton & Finger P.C. UBS Investment Bank is serving as financial advisor to the Special Committee of the Standard BioTools Board of Directors.