Business
Standard BioTools Completes Sale of SomaLogic to Illumina
Received $350 Million in upfront cash at closing; Up to $425 Million in total proceeds inclusive of near-term earnout payments Approximately $550 Million in cash & cash equivalents on balance sheet at close, excluding potential future earnouts, to fuel inorganic growth strategy Continuing Operations on track to achieve positive adjusted EBITDA in 2026 BOSTON, Mass., Jan. 30, 2026 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB) (the “Company” or “Standard BioTools”) today announced it ha
About this update from Standard Biotools Inc.
[{"type":"image","alt":"Standard BioTools Inc.","displaySize":"","headline":null,"caption":"Standard BioTools Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":214,"url":"https://media.zenfs.com/en/globenewswire.com/62bb817180017915a417644b36a1d053"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/fFQS13CdQZEX2RHrMp.CBg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTMwMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/62bb817180017915a417644b36a1d053","width":300,"height":214}},"lazy":false},{"type":"text","content":"Received $350 Million in upfront cash at closing; Up to $425 Million in total proceeds inclusive of near-term earnout payments","length":126,"tagName":"p"},{"type":"text","content":"Approximately $550 Million in cash & cash equivalents on balance sheet at close, excluding potential future earnouts, to fuel inorganic growth strategy ","length":155,"tagName":"p"},{"type":"text","content":"Continuing Operations on track to achieve positive adjusted EBITDA in 2026","length":74,"tagName":"p"},{"type":"text","content":"BOSTON, Mass., Jan. 30, 2026 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB) (the “Company” or “Standard BioTools”) today announced it has completed the previously announced sale of SomaLogic to Illumina, Inc. (NASDAQ: ILMN) (“Illumina”) for $350 million in upfront cash and up to $75 million in near-term earnout payments for aggregate cash consideration of up to $425 million plus specified royalties.","length":412,"tagName":"p"},{"type":"text","content":"“The closing of this transaction marks a major milestone in our strategic transformation. We are lean, focused and extremely well positioned, and emerge today far stronger than we were yesterday,” said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. “We are now financially resourced to pursue disciplined M&A that accelerates growth and scale like few similarly sized peers in our industry can.”","length":433,"tagName":"p"},{"type":"text","content":"Transaction Details","length":19,"tagName":"p"},{"type":"text","content":"With the sale of SomaLogic to Illumina, which includes SomaScan® Assay Services, Authorized Sites and KREX™, Standard BioTools received an upfront payment of $350 million, subject to customary adjustments, and is eligible to receive up to $75 million&nbs...