On Tuesday, Boulder-based biotech company SomaLogic announced that it raised another $81 million in funding. This new funding was an extension of its Series A financing round, bringing its total capital raised to $214 million. Life science investor Casdin Capital led the Series A round.
There are countless people who are predisposed or at a heightened risk for a health condition, but seem perfectly healthy. Our medical system is designed to address conditions that are easy to diagnose or health issues once they manifest, but SomaLogic aims to help these people before they get sick, so they can ultimately experience better health outcomes.
To do this, SomaLogic looks at proteins in the human body — an area of study called proteomics. Proteins can give health experts and researchers a better idea of what’s going on in the body and are often directly correlated with specific health conditions. That’s why SomaLogic built its SomaScan platform and SomaSignal tests.
This technology allows the company to measure over 7,000 different proteins in a blood sample, and then run that data through its proprietary algorithms to provide people with information about their health, identify disease or give recommendations for how to stay healthy and avoid potential health issues. The SomaScan platform can also be used by pharmaceutical companies and academic researchers to identify new drug targets.
The company plans to use this new funding to build upon its proteomic products and invest in new commercialization efforts. Since its founding in 2000, SomaLogic has had over 700 patents issued or pending, and helped publish over 300 scientific papers.
“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,” CEO Roy Smythe, M.D., said in a statement. “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.”
