Standard BioTools Completes SomaLogic Sale to Illumina for $350 Million in Upfront Cash

Standard BioTools completed the sale of SomaLogic to Illumina for $350 million in upfront cash and up to $75 million in near-term earnout payments. The company will receive up to $425 million in total proceeds, including royalties. With the sale, Standard BioTools estimates a cash and cash equivalents balance of approximately $550 million. The company plans to use this funding to pursue its inorganic growth strategy and achieve positive adjusted EBITDA in 2026.