SomaLogic closes $200M financing round

Thursday January 4, 2018 0 comments Tags: Boulder, SomaLogic, SOMAscan, Al Reynolds

BOULDER -- SomaLogic today announced it capped its  $200 million  funding round, anchored by iCarbonX with substantial investments from Nan Fung Life Sciences and Madryn Asset Management.SomaLogic_logoUSE

The successful round will accelerate SoaLogic's goal of becoming the world's leading provider of precision digital health insights, the company said.

SomaLogic uniquely and precisely measures thousands of human proteins rather than genes, and turns those measurements into insights that empower people to purposefully and meaningfully manage their individual health and wellness.

SomaLogic said its "SOMAscan®" technology, which currently measures 5,000 proteins in a single sample, has successfully analyzed over 150,000 samples across more than 50 diseases or conditions, with plans for an additional 1 million more samples by the end of 2020.

The continuously growing power of the SOMAscan technology, the massive proprietary data sets being accumulated and analyzed, and the strategy for turning those assets into a successful health insight company have together caught the attention of leading investors in emerging digital health markets, the company said.

"We are delighted to expand our relationship with SomaLogic and continue to support the company's growth," said Avinash Amin, managing partner at Madryn Asset Management.

"We believe SomaLogic's proteomics technology provides the basis for unique and differentiated insights into human health and disease, with broad implications for diagnosis and treatment."

SomaLogic said understanding the changes over time in bodily proteins is being increasingly recognized by the medical community as essential to the effective personalized maintenance of health and management of disease.

Unlike genes, proteins respond dynamically to changes in the body and the environment, offering meaningful and actionable health information in real-time.

"These new investments by Nan Fung and Madryn, two elite, global healthcare investors, are yet another huge vote of confidence in our strategic direction and the deep intrinsic value of our technology," said Al Reynolds, SomaLogic's CEO.

"We are delighted that they recognize the huge potential of our technology to radically transform healthcare, and are joining us as valued partners to accelerate that goal."

Specific financial details were not disclosed.