Illumina announced today it has entered into a definitive agreement to acquire SomaLogic, a leader in data-driven proteomics technology, for $350 million in cash plus up to $75 million in near-term performance-based milestones and performance-based royalties. The acquisition represents a strategic expansion of Illumina's presence in the rapidly growing proteomics market and advances the company's multiomics strategy announced in 2024.
"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.
Building on Established Partnership
The 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.
"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," Thaysen continued.
Technology Integration and Capabilities
The acquisition brings SomaLogic's aptamer-based affinity proteomics platform into Illumina's portfolio, combining it with Illumina's scalable NGS ecosystem, DRAGEN™ software, and Illumina Connected Multiomics. This integration is expected to 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. Researchers can generate significant and pivotal insights with high sensitivity, high throughput, and thousands of protein markers in a single experiment.
"We are taking the scalability of NGS into proteomics," said 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."
Business Impact and Financial Projections
The kitted NGS-based panels business will add a high-margin consumables revenue stream to Illumina's portfolio. 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.
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.
Transaction Timeline and Regulatory Process
Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory clearance. The parties intend to make the necessary filing under the Hart-Scott-Rodino Act in the United States in due course. Illumina expects to close the transaction in the first half of 2026, with both companies continuing to operate as separate and independent entities until then.
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.
