On June 23, 2025, Illumina, Inc. announced a definitive agreement to acquire SomaLogic, a leader in data-driven proteomics technology, from Standard BioTools for $350 million in cash, with potential additional payments of up to $75 million tied to performance milestones and royalties, totaling up to $425 million. At the time, this equated to approximately CAD 581 million upfront and up to CAD 125 million in additional payments, based on exchange rates.

The acquisition aims to enhance Illumina's presence in the expanding proteomics market and advance its multiomics strategy announced in 2024. By integrating SomaLogic's aptamer-based affinity proteomics platform, Illumina plans to strengthen the value of its NovaSeq X product and unlock greater capabilities in biomarker discovery and disease profiling.

This transaction builds upon a co-development agreement established in December 2021, which brought the SomaScan Proteomics Assay onto Illumina's high-throughput next-generation sequencing platforms. The combined technologies are expected to accelerate the development roadmap for proteomics and reduce the time and cost of proteomic research.

Illumina anticipates the acquired business to become profitable by 2027 on a non-GAAP operating income basis, with operating margins aligning with Illumina's by 2028. The transaction is expected to close in the first half of 2026, subject to customary closing conditions and regulatory approvals.

Goldman Sachs & Co. LLC is serving as Illumina's financial advisor, while Cravath, Swaine & Moore LLP is providing legal counsel for the transaction.