Illumina to acquire SomaLogic for $350M cash plus up to $75M milestones

ILLUMINA, INC.

Illumina will acquire SomaLogic's aptamer-based proteomics business from Standard BioTools for $350M cash at closing, plus up to $75M in milestones and royalties.
Transaction includes SomaLogic's SomaScan assay, CLIA/CAP lab in Boulder, CO, and ~250 employees; builds on co-development since 2021.
Illumina expects the business to become profitable on a non-GAAP basis in 2027, with operating margins in line with Illumina by 2028.
Closing expected in first half of 2026, subject to HSR and other customary conditions; termination fee of $14.5M under certain circumstances.
Illumina Protein Prep (SomaScan on NGS) already has ~40 early-access customers, full availability in Q3 2025.

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