SomaLogic adds $81M to Series A totaling $214M

Tuesday December 22, 2020 0 comments Tags: Boulder, SomaLogic, Roy Smythe

BOULDER -- SomaLogic, Inc.  today announced it added $81M to its current funding round with investments from a number of additional investors, for a total Series A raise of $214M.SomaLogic_logoUSE 

The funds raised in this round will facilitate improving, expanding and commercializing SomaLogic’s world-leading proteomic products in both the clinical and life science markets, the company said.

The Series A financing round was led by life science investor Casdin Capital, with participation in the first November close from Farallon Capital Management, Foresite Capital, funds and accounts advised by T. Rowe Price Associates, Inc., Blue Water Life Science Advisors, Madryn Asset Management, Fiscus Ventures and Reimagined Ventures (affiliates of Magnetar Capital), Monashee Investment Management, Mossrock Capital, Soleus Capital and others.

In this second close, additional financial investors include Janus Henderson Investors, Redmile Group, Logos Capital, Revelation Partners, Ziff Capital Healthcare Ventures, Boston Millennia Partners and Millennium Management.

Strategic investors from a number of premier organizations that span the current and future proteomics market include Novartis, Amgen, Intermountain Ventures and NEC Solution Innovators, Ltd. Cowen was an advisor in this effort.

“We are very excited to have these financing partners for the next phase of our strategic growth – a syndicate that unequivocally represents the best of those involved in supporting and growing life sciences tools and leading edge diagnostics companies, and several that represent the growing market for our products as well,” said SomaLogic CEO Roy Smythe.

“Proteomics will increasingly transform life sciences research and clinical care in ways previously unimagined and we are now positioned at the very forefront of that endeavor.”

Cowen served as sole placement agent to SomaLogic for the private placement, and Reed Smith LLP served as legal counsel for the transaction.