Proteomics player SomaLogic pulls in $200M in financing round

Money
Proteomics player SomaLogic pulled in $200M in a financing round led by iCarbonX.

SomaLogic, a Colorado-based developer of a technology used for analyzing proteins for personalized medicine and proteomics, pulled in $200 million in a financing round led by iCarbonX. The money will be used to speed up the company’s target of becoming the global leader in precision digital health insights.

Other investors in the round included Nan Fung Life Sciences and Madryn Asset Management. Additional details of the funding weren’t disclosed.

SomaLogic’s SOMAscan is capable of measuring thousands of human proteins rather than genes. Currently, the technology has been used to successfully analyze more than 150,000 samples covering 50 diseases or conditions. The company says it plans for an additional 1 million samples by the end of 2020.

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“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,” Avinash Amin, managing partner at Madryn Asset Management, said in a statement.

The ability to understand how bodily proteins change over time is being recognized in the health industry as a new avenue to personalize the treatment and management of diseases. Proteins, unlike genes, respond to changes in the body and the environment, providing better health information in real-time.

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