Illumina to Acquire SomaLogic from Standard BioTools for $425 Million

June 23,AddSouth San Francisco, CaliforniaJinshan,Standard BioTools Inc.（NASDAQ:LAB) AnnouncesSomaLogicStrategic Sale to Illumina, including SomaScan®Assay Services、Authorized SitesAnd KREX™, with a prepayment of $350 million in cash at closing and an additional $75 million in cash for recent milestone payments, bringing the total cash consideration to up to $425 million.Dollars, plus based onSOMAmerThe followingThe specified sales royalty for the first-generation sequencing (NGS) library preparation kit (Illumina Protein Prep). Standard BioTools will retain commercialization rights to certain Single SOMAmer reagents. This transaction significantly simplifies Standard BioTools' operational structure and achieves adjusted EBITDA break-even.

Standard BioTools will also receive a 2% royalty on the net sales revenue from SOMAmer-based NGS library preparation kits for 10 years following the completion of the transaction, along with an exclusive license to the intellectual property related to the commercialization of Single SOMAmer.

Michael Egholm, Ph.D., President and Chief Executive Officer of Standard BioTools, said:"Since acquiring SomaLogic 18 months ago, we have fundamentally transformed the business – repositioning the SomaScan technology, improving operations, investing in high-impact face-to-face research, and expanding strategic biobank activities – successfully establishing it as the category leader in high-complexity proteomics. As SomaScan is now poised to realize its long-term potential, the full integration of technology, applications, and commercial capabilities is crucial. We believe that Illumina is the right strategic partner to bring these capabilities under one roof and lead SomaScan into its next phase of growth. The value of this transaction reflects our fundamental improvements to the business while allowing Standard BioTools to continue participating in its long-term success and retaining the opportunity for single SOMAmer reagents."

The core argument behind Standard BioTools is that disciplined operations and focused execution bring meaningful value to the life sciences field. This strategic sale demonstratesStandard BioToolsThe advantages of the model, as well as the ability to identify high-potential but undervalued assets, apply lean principles through the Standard BioTools Business System (SBS), and generate returns aligned with shareholders' economic interests, thereby ensuring the balance sheet has at least $550 million in cash at closing. At the same time, this transaction will enableStandard BioToolsThis will greatly simplify operations and organizational infrastructure, paving the way to achieve adjusted EBITDA breakeven, which is a key priority. Overall,Standard BioToolsWith sufficient financial strength to continue building through strategic mergers and acquisitions, while maintaining a clear focus on profitability. Remains committed to continuous improvement, establishing an efficient and scalable business to meet the evolving needs of the life sciences industry and deliver long-term value to all stakeholders.

A Disciplined M&A Strategy Driving Long-Term Value Creation

Standard BioTools is implementing a focused and disciplined M&A strategy aimed at acquiring undervalued, high-potential assets with proven science and clear commercialization pathways. This strategy targets technologies with strong profit potential, recurring revenue models, and attractive end-market exposure in pharmaceuticals, bioprocessing, and clinical research.

Standard BioToolsThrough rigorous framework assessments for acquisitions and integration using SBS to drive execution, streamline operations, and accelerate value creation. In a capital-constrained but innovation-rich environment, Standard BioTools, with its experienced operator management team and strong balance sheet, is well-positioned to lead consolidation across the life science tools industry.

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